Alerus Financial (ALRS) To Go Ex-Dividend on December 26th

Alerus Financial (NASDAQ:ALRS) announced a quarterly dividend on Thursday, December 4th. Investors of record on Friday, December 26th will be given a dividend of 0.21 per share on Friday, January 9th. This represents a c) annualized dividend and a yield of 3.8%. The ex-dividend date is Friday, December 26th.

Alerus Financial has raised its dividend by an average of 0.1%per year over the last three years and has increased its dividend every year for the last 25 years. Alerus Financial has a payout ratio of 35.6% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Alerus Financial to earn $2.43 per share next year, which means the company should continue to be able to cover its $0.84 annual dividend with an expected future payout ratio of 34.6%.

Alerus Financial Trading Down 0.3%

NASDAQ:ALRS traded down $0.07 during trading hours on Wednesday, reaching $22.04. 7,565 shares of the stock were exchanged, compared to its average volume of 77,670. Alerus Financial has a twelve month low of $15.78 and a twelve month high of $24.33. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.11. The business has a 50-day moving average of $21.81 and a two-hundred day moving average of $21.93. The company has a market capitalization of $559.69 million, a price-to-earnings ratio of 10.63 and a beta of 0.70.

Alerus Financial (NASDAQ:ALRS) last posted its quarterly earnings data on Thursday, October 30th. The company reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.07. Alerus Financial had a return on equity of 11.63% and a net margin of 13.45%.The firm had revenue of $72.57 million for the quarter, compared to the consensus estimate of $71.41 million. On average, equities analysts predict that Alerus Financial will post 2.14 EPS for the current year.

Institutional Investors Weigh In On Alerus Financial

Several institutional investors have recently modified their holdings of the company. Wellington Management Group LLP purchased a new position in Alerus Financial in the first quarter valued at $6,040,000. CSM Advisors LLC purchased a new stake in Alerus Financial during the 2nd quarter worth about $4,123,000. Nuveen LLC acquired a new position in shares of Alerus Financial during the 1st quarter worth about $3,185,000. AQR Capital Management LLC increased its holdings in shares of Alerus Financial by 265.7% in the 2nd quarter. AQR Capital Management LLC now owns 236,720 shares of the company’s stock valued at $5,123,000 after acquiring an additional 171,984 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in shares of Alerus Financial by 13.2% during the 1st quarter. Vanguard Group Inc. now owns 1,194,264 shares of the company’s stock worth $22,046,000 after acquiring an additional 139,435 shares in the last quarter. 51.25% of the stock is owned by hedge funds and other institutional investors.

About Alerus Financial

Alerus Financial Corporation (NASDAQ: ALRS) is a diversified financial services company headquartered in Grand Forks, North Dakota. The firm provides a full range of commercial and consumer banking products, including deposit accounts, lending solutions and treasury management services for individuals, small businesses and larger corporate clients. Through its community banking network, Alerus emphasizes local decision-making and personalized service to meet the needs of its varied client base.

In addition to traditional banking offerings, Alerus operates a national mortgage origination and servicing platform that delivers home purchase and refinance loans.