Short Interest in Alerus Financial Co. (NASDAQ:ALRS) Declines By 10.2%

Alerus Financial Co. (NASDAQ:ALRSGet Rating) was the target of a significant decline in short interest in the month of October. As of October 31st, there was short interest totalling 240,700 shares, a decline of 10.2% from the October 15th total of 268,100 shares. Based on an average daily volume of 34,900 shares, the short-interest ratio is presently 6.9 days.

Alerus Financial Trading Up 0.7 %

NASDAQ:ALRS opened at $23.16 on Friday. The company has a current ratio of 0.73, a quick ratio of 0.72 and a debt-to-equity ratio of 0.17. Alerus Financial has a 12-month low of $20.20 and a 12-month high of $33.55. The firm has a market cap of $462.90 million, a P/E ratio of 10.16 and a beta of 0.69. The stock’s 50 day simple moving average is $22.53 and its 200-day simple moving average is $23.68.

Alerus Financial (NASDAQ:ALRSGet Rating) last posted its quarterly earnings results on Wednesday, October 26th. The company reported $0.54 earnings per share for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.03). Alerus Financial had a net margin of 18.71% and a return on equity of 13.16%. The business had revenue of $55.33 million during the quarter, compared to analysts’ expectations of $56.40 million. Equities analysts anticipate that Alerus Financial will post 2.26 EPS for the current year.

Alerus Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 13th. Investors of record on Friday, December 23rd will be paid a $0.18 dividend. The ex-dividend date is Thursday, December 22nd. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.11%. Alerus Financial’s dividend payout ratio (DPR) is presently 31.58%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on ALRS. Piper Sandler boosted their target price on Alerus Financial to $25.00 in a report on Tuesday, November 1st. Hovde Group dropped their target price on Alerus Financial to $27.00 in a report on Tuesday, November 1st.

Institutional Trading of Alerus Financial

A number of institutional investors have recently modified their holdings of ALRS. Riverwater Partners LLC purchased a new stake in shares of Alerus Financial in the first quarter valued at approximately $227,000. American Century Companies Inc. lifted its position in shares of Alerus Financial by 28.1% in the first quarter. American Century Companies Inc. now owns 40,030 shares of the company’s stock valued at $1,106,000 after acquiring an additional 8,780 shares in the last quarter. Acadian Asset Management LLC lifted its position in shares of Alerus Financial by 164.2% in the first quarter. Acadian Asset Management LLC now owns 6,726 shares of the company’s stock valued at $185,000 after acquiring an additional 4,180 shares in the last quarter. Martingale Asset Management L P lifted its position in shares of Alerus Financial by 19.4% in the first quarter. Martingale Asset Management L P now owns 22,121 shares of the company’s stock valued at $612,000 after acquiring an additional 3,601 shares in the last quarter. Finally, MetLife Investment Management LLC lifted its position in shares of Alerus Financial by 50.7% in the first quarter. MetLife Investment Management LLC now owns 7,325 shares of the company’s stock valued at $202,000 after acquiring an additional 2,463 shares in the last quarter. 37.95% of the stock is currently owned by hedge funds and other institutional investors.

Alerus Financial Company Profile

(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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