JPMorgan Chase & Co. Has $1.62 Million Stake in Alerus Financial $ALRS

JPMorgan Chase & Co. boosted its holdings in Alerus Financial (NASDAQ:ALRS) by 83.4% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 73,019 shares of the company’s stock after purchasing an additional 33,205 shares during the quarter. JPMorgan Chase & Co. owned 0.29% of Alerus Financial worth $1,617,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. NewEdge Advisors LLC raised its stake in Alerus Financial by 90.1% in the 2nd quarter. NewEdge Advisors LLC now owns 1,544 shares of the company’s stock worth $33,000 after purchasing an additional 732 shares in the last quarter. CIBC Private Wealth Group LLC acquired a new position in shares of Alerus Financial in the 3rd quarter valued at approximately $52,000. AlphaQuest LLC acquired a new position in shares of Alerus Financial in the 3rd quarter valued at approximately $59,000. Tower Research Capital LLC TRC raised its position in shares of Alerus Financial by 172.7% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,371 shares of the company’s stock valued at $73,000 after buying an additional 2,135 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its position in shares of Alerus Financial by 259.2% in the 2nd quarter. BNP Paribas Financial Markets now owns 4,350 shares of the company’s stock valued at $94,000 after buying an additional 3,139 shares in the last quarter. Institutional investors and hedge funds own 51.25% of the company’s stock.

Analysts Set New Price Targets

ALRS has been the subject of several analyst reports. Keefe, Bruyette & Woods boosted their target price on shares of Alerus Financial from $24.00 to $25.00 and gave the company a “market perform” rating in a research report on Friday, January 30th. Hovde Group cut shares of Alerus Financial from an “outperform” rating to a “market perform” rating in a research report on Wednesday, January 7th. Wall Street Zen cut shares of Alerus Financial from a “buy” rating to a “hold” rating in a research report on Saturday, March 7th. Weiss Ratings cut shares of Alerus Financial from a “buy (b-)” rating to a “hold (c)” rating in a research report on Thursday, March 5th. Finally, Raymond James Financial set a $29.00 target price on shares of Alerus Financial and gave the company a “strong-buy” rating in a research report on Friday, January 30th. One analyst has rated the stock with a Strong Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $26.00.

Alerus Financial Trading Up 1.8%

Shares of Alerus Financial stock opened at $24.81 on Thursday. The firm has a market capitalization of $634.14 million, a PE ratio of 37.59 and a beta of 0.59. The company has a current ratio of 0.90, a quick ratio of 0.89 and a debt-to-equity ratio of 0.10. The firm’s 50 day moving average is $24.42 and its 200 day moving average is $23.03. Alerus Financial has a 1 year low of $15.78 and a 1 year high of $26.32.

Alerus Financial (NASDAQ:ALRS) last announced its quarterly earnings results on Wednesday, January 28th. The company reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.28. The company had revenue of $77.07 million for the quarter, compared to analyst estimates of $71.43 million. Alerus Financial had a net margin of 4.36% and a return on equity of 13.18%. Equities research analysts forecast that Alerus Financial will post 2.14 earnings per share for the current fiscal year.

Alerus Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, April 10th. Investors of record on Friday, March 27th will be issued a dividend of $0.21 per share. The ex-dividend date of this dividend is Friday, March 27th. This represents a $0.84 annualized dividend and a dividend yield of 3.4%. Alerus Financial’s payout ratio is 127.27%.

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.