Lafayette Investments Inc. Buys Shares of 20,100 ALERUS FINL COR/SH (OTCMKTS:ALRS)

Lafayette Investments Inc. bought a new stake in shares of ALERUS FINL COR/SH (OTCMKTS:ALRS) in the third quarter, Holdings Channel reports. The fund bought 20,100 shares of the company’s stock, valued at approximately $438,000.

Shares of ALRS traded down $0.02 on Thursday, hitting $21.45. 1,961 shares of the stock traded hands, compared to its average volume of 8,139. The business has a 50 day simple moving average of $21.67 and a 200 day simple moving average of $19.74. ALERUS FINL COR/SH has a one year low of $18.70 and a one year high of $24.00.

The firm also recently declared a — dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, September 20th were paid a dividend of $0.14 per share. This represents a dividend yield of 2.5%. The ex-dividend date was Thursday, September 19th.

In other news, CFO Katie A. Lorenson bought 5,500 shares of the stock in a transaction that occurred on Tuesday, September 17th. The shares were bought at an average price of $21.00 per share, for a total transaction of $115,500.00. Also, Director Lloyd G. Case bought 2,000 shares of the stock in a transaction that occurred on Tuesday, September 17th. The shares were purchased at an average price of $21.00 per share, for a total transaction of $42,000.00. Insiders have bought a total of 13,071 shares of company stock worth $274,491 in the last quarter.

ALRS has been the subject of a number of analyst reports. DA Davidson initiated coverage on shares of ALERUS FINL COR/SH in a research note on Tuesday, October 8th. They set a “neutral” rating for the company. Raymond James started coverage on shares of ALERUS FINL COR/SH in a research report on Tuesday, October 8th. They set an “outperform” rating and a $25.00 price target for the company. Finally, Piper Jaffray Companies started coverage on shares of ALERUS FINL COR/SH in a research report on Tuesday, October 8th. They set a “neutral” rating and a $23.00 price target for the company.

About ALERUS FINL COR/SH

Alerus Financial Corporation, through its subsidiaries, provides various financial services for individuals, families, and businesses. It offers checking and savings accounts, certificates of deposit, personal loans, lines of credit, debit and credit cards, deposit and payment solutions, and mobile wallet, as well as online banking and bill pay, mobile banking, and private banking services.

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