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

Alerus Financial Co. (NASDAQ:ALRSGet Rating) was the target of a significant drop in short interest in July. As of July 15th, there was short interest totalling 247,800 shares, a drop of 36.4% from the June 30th total of 389,400 shares. Approximately 1.7% of the company’s stock are short sold. Based on an average daily trading volume, of 30,500 shares, the days-to-cover ratio is currently 8.1 days.

Analysts Set New Price Targets

Separately, Hovde Group raised shares of Alerus Financial from a “market perform” rating to an “outperform” rating and raised their target price for the company from $27.00 to $28.00 in a research note on Friday.

Alerus Financial Trading Up 4.5 %

Shares of Alerus Financial stock opened at $24.64 on Friday. The business has a fifty day simple moving average of $23.95 and a two-hundred day simple moving average of $26.43. Alerus Financial has a 1 year low of $20.20 and a 1 year high of $38.31. The company has a market capitalization of $426.00 million, a price-to-earnings ratio of 9.16 and a beta of 0.74. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.66 and a quick ratio of 0.65.

Alerus Financial (NASDAQ:ALRSGet Rating) last announced its quarterly earnings results on Wednesday, July 27th. The company reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.60 by ($0.08). Alerus Financial had a net margin of 20.86% and a return on equity of 13.52%. During the same period last year, the company posted $0.66 EPS. Research analysts forecast that Alerus Financial will post 2.47 EPS for the current year.

Alerus Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 8th. Shareholders of record on Friday, June 17th were issued a dividend of $0.18 per share. This is an increase from Alerus Financial’s previous quarterly dividend of $0.16. The ex-dividend date was Thursday, June 16th. This represents a $0.72 annualized dividend and a yield of 2.92%. Alerus Financial’s dividend payout ratio (DPR) is currently 26.77%.

Institutional Investors Weigh In On Alerus Financial

Hedge funds and other institutional investors have recently modified their holdings of the company. Lazard Asset Management LLC lifted its holdings in shares of Alerus Financial by 71.1% during the first quarter. Lazard Asset Management LLC now owns 1,194 shares of the company’s stock worth $33,000 after buying an additional 496 shares in the last quarter. Amalgamated Bank acquired a new stake in shares of Alerus Financial during the first quarter worth $50,000. SG Americas Securities LLC acquired a new stake in shares of Alerus Financial during the second quarter worth $144,000. Acadian Asset Management LLC lifted its holdings in shares of Alerus Financial by 164.2% during the first quarter. Acadian Asset Management LLC now owns 6,726 shares of the company’s stock worth $185,000 after buying an additional 4,180 shares in the last quarter. Finally, MetLife Investment Management LLC lifted its holdings in shares of Alerus Financial by 50.7% during the first quarter. MetLife Investment Management LLC now owns 7,325 shares of the company’s stock worth $202,000 after buying an additional 2,463 shares in the last quarter. Institutional investors and hedge funds own 39.47% of the company’s stock.

About Alerus Financial

(Get Rating)

Alerus Financial Corporation, through its subsidiary, Alerus Financial, National Association, provides various financial services to businesses and consumers. The company operates in four segments: Banking, Retirement and Benefit Services, Wealth Management, and Mortgage. It offers various deposit products, including demand deposits, interest-bearing transaction accounts, money market accounts, time and savings deposits, checking accounts, and certificates of deposit; and treasury management products, including electronic receivables management, remote deposit capture, cash vault services, merchant services, and other cash management services.

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