Odyssean LLC Purchases Shares of 18,781 Alerus Financial $ALRS

Odyssean LLC acquired a new stake in shares of Alerus Financial (NASDAQ:ALRS) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 18,781 shares of the company’s stock, valued at approximately $584,000. Odyssean LLC owned 0.08% of Alerus Financial at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. BlackRock Inc. bought a new stake in Alerus Financial in the 2nd quarter valued at about $56,672,000. Vanguard Group Inc. boosted its holdings in Alerus Financial by 1.3% in the third quarter. Vanguard Group Inc. now owns 1,269,253 shares of the company’s stock worth $28,101,000 after acquiring an additional 16,779 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Alerus Financial by 6.8% in the first quarter. Dimensional Fund Advisors LP now owns 886,815 shares of the company’s stock valued at $21,027,000 after acquiring an additional 56,763 shares during the period. Geode Capital Management LLC grew its stake in Alerus Financial by 4.0% in the fourth quarter. Geode Capital Management LLC now owns 603,392 shares of the company’s stock valued at $13,591,000 after acquiring an additional 23,403 shares during the period. Finally, Endeavour Capital Advisors Inc. increased its holdings in shares of Alerus Financial by 0.5% during the fourth quarter. Endeavour Capital Advisors Inc. now owns 516,532 shares of the company’s stock valued at $11,632,000 after acquiring an additional 2,597 shares in the last quarter. Institutional investors own 51.25% of the company’s stock.

Insider Transactions at Alerus Financial

In other news, Director Jeffrey Bolton bought 1,000 shares of Alerus Financial stock in a transaction dated Tuesday, September 1st. The stock was purchased at an average price of $32.45 per share, for a total transaction of $32,450.00. Following the purchase, the director directly owned 15,163 shares in the company, valued at $492,039.35. The trade was a 7.06% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 4.30% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

ALRS has been the topic of a number of research reports. Piper Sandler upped their target price on Alerus Financial from $32.00 to $37.00 and gave the stock a “neutral” rating in a research report on Friday, July 31st. Keefe, Bruyette & Woods boosted their price target on shares of Alerus Financial from $29.00 to $32.00 and gave the company a “market perform” rating in a research note on Friday, July 31st. Weiss Ratings downgraded shares of Alerus Financial from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, August 17th. Zacks Research downgraded shares of Alerus Financial from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 20th. Finally, Raymond James Financial reiterated an “outperform” rating and set a $37.00 price objective on shares of Alerus Financial in a report on Monday, August 3rd. One analyst has rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $35.50.

Alerus Financial Stock Performance

Shares of Alerus Financial stock opened at $33.79 on Friday. Alerus Financial has a 52 week low of $20.31 and a 52 week high of $34.40. The company has a quick ratio of 0.89, a current ratio of 0.90 and a debt-to-equity ratio of 0.10. The business has a 50 day moving average price of $32.60 and a 200-day moving average price of $28.48. The company has a market cap of $842.38 million, a PE ratio of 31.88 and a beta of 0.67.

Alerus Financial (NASDAQ:ALRS) last announced its earnings results on Wednesday, July 29th. The company reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.03. Alerus Financial had a return on equity of 14.41% and a net margin of 6.87%.The company had revenue of $80.00 million for the quarter, compared to analysts’ expectations of $76.99 million. Equities analysts anticipate that Alerus Financial will post 3.03 earnings per share for the current fiscal year.

Alerus Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 9th. Shareholders of record on Friday, September 25th will be issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend is Friday, September 25th. Alerus Financial’s payout ratio is currently 83.02%.

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.