Jane Street Group LLC Has $235,000 Stake in Alerus Financial Co. (NASDAQ:ALRS)

Jane Street Group LLC trimmed its position in shares of Alerus Financial Co. (NASDAQ:ALRS) by 49.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,261 shares of the company’s stock after selling 10,057 shares during the quarter. Jane Street Group LLC’s holdings in Alerus Financial were worth $235,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. Federated Hermes Inc. lifted its holdings in shares of Alerus Financial by 380.7% during the 2nd quarter. Federated Hermes Inc. now owns 1,519 shares of the company’s stock valued at $30,000 after buying an additional 1,203 shares during the last quarter. SG Americas Securities LLC bought a new position in shares of Alerus Financial in the 3rd quarter valued at approximately $142,000. Harbor Advisors LLC bought a new position in shares of Alerus Financial in the 3rd quarter valued at approximately $226,000. Inspire Investing LLC bought a new position in shares of Alerus Financial in the 3rd quarter valued at approximately $417,000. Finally, Walleye Capital LLC bought a new position in shares of Alerus Financial in the 3rd quarter valued at approximately $424,000. 51.25% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently weighed in on ALRS. Keefe, Bruyette & Woods raised their price objective on Alerus Financial from $22.00 to $23.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. Raymond James raised Alerus Financial from a “market perform” rating to an “outperform” rating and set a $24.00 price objective on the stock in a research note on Tuesday, September 17th. Finally, Piper Sandler cut their price objective on Alerus Financial from $24.00 to $23.00 and set a “neutral” rating on the stock in a research note on Thursday, October 31st. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $23.20.

Alerus Financial Stock Performance

Shares of NASDAQ ALRS opened at $18.50 on Friday. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.15. The business’s 50 day moving average is $21.03 and its two-hundred day moving average is $21.43. The company has a market cap of $468.75 million, a P/E ratio of 115.63 and a beta of 0.71. Alerus Financial Co. has a 12 month low of $17.99 and a 12 month high of $25.85.

Alerus Financial (NASDAQ:ALRS) last issued its quarterly earnings results on Tuesday, October 29th. The company reported $0.26 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.18). The business had revenue of $80.58 million during the quarter, compared to the consensus estimate of $52.30 million. Alerus Financial had a return on equity of 6.02% and a net margin of 1.01%. During the same period in the prior year, the firm earned $0.45 earnings per share. On average, equities analysts expect that Alerus Financial Co. will post 0.97 EPS for the current year.

Alerus Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Friday, December 27th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.32%. The ex-dividend date of this dividend is Friday, December 27th. Alerus Financial’s dividend payout ratio is presently 500.00%.

Alerus Financial Profile

Alerus Financial Corporation operates as the bank holding company for Alerus Financial, National Association that engages in the provision of various financial services to businesses and consumers. The company operates in four segments: Banking, Mortgage, Retirement and Benefit Services, and Wealth Management.