Alerus Financial Co. (NASDAQ:ALRS) Short Interest Update

Alerus Financial Co. (NASDAQ:ALRS) was the recipient of a significant increase in short interest in the month of January. As of January 15th, there was short interest totalling 218,800 shares, an increase of 13.8% from the December 31st total of 192,300 shares. Based on an average trading volume of 101,000 shares, the short-interest ratio is presently 2.2 days.

Alerus Financial Stock Down 1.1 %

Shares of Alerus Financial stock traded down $0.23 during trading hours on Friday, hitting $21.14. 83,975 shares of the company’s stock traded hands, compared to its average volume of 82,796. Alerus Financial has a twelve month low of $17.99 and a twelve month high of $24.69. The company has a market cap of $535.69 million, a PE ratio of 20.73 and a beta of 0.71. 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 stock has a 50 day simple moving average of $20.42 and a 200-day simple moving average of $21.48.

Alerus Financial (NASDAQ:ALRS) last issued its quarterly earnings data on Tuesday, January 28th. The company reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.16. Alerus Financial had a return on equity of 7.66% and a net margin of 6.26%. Equities research analysts anticipate that Alerus Financial will post 1.96 earnings per share for the current fiscal year.

Alerus Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 17th. Shareholders of record on Friday, December 27th were paid a dividend of $0.20 per share. The ex-dividend date was Friday, December 27th. This represents a $0.80 dividend on an annualized basis and a yield of 3.78%. Alerus Financial’s dividend payout ratio (DPR) is 78.43%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on ALRS shares. Keefe, Bruyette & Woods raised their price target on shares of Alerus Financial from $22.00 to $23.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. Raymond James restated an “outperform” rating and set a $24.00 target price (up previously from $22.00) on shares of Alerus Financial in a report on Thursday. Piper Sandler increased their price target on Alerus Financial from $21.00 to $24.00 and gave the company a “neutral” rating in a report on Thursday. Finally, DA Davidson restated a “neutral” rating and set a $23.00 price objective on shares of Alerus Financial in a research note on Thursday. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, Alerus Financial currently has an average rating of “Hold” and an average target price of $23.40.

Institutional Investors Weigh In On Alerus Financial

Several hedge funds and other institutional investors have recently modified their holdings of the stock. New York State Common Retirement Fund boosted its holdings in Alerus Financial by 41.7% in the fourth quarter. New York State Common Retirement Fund now owns 6,451 shares of the company’s stock worth $124,000 after purchasing an additional 1,900 shares during the period. SG Americas Securities LLC acquired a new position in shares of Alerus Financial in the 3rd quarter valued at about $142,000. Harbor Advisors LLC bought a new stake in shares of Alerus Financial during the 3rd quarter valued at about $226,000. Inspire Investing LLC grew its position in shares of Alerus Financial by 14.9% during the 4th quarter. Inspire Investing LLC now owns 20,947 shares of the company’s stock valued at $403,000 after buying an additional 2,717 shares during the last quarter. Finally, Walleye Capital LLC acquired a new stake in Alerus Financial during the third quarter worth about $424,000. Institutional investors own 51.25% of the company’s stock.

About Alerus Financial

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.