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

Alerus Financial Co. (NASDAQ:ALRS) saw a large decline in short interest during the month of October. As of October 15th, there was short interest totalling 286,600 shares, a decline of 55.4% from the September 30th total of 642,600 shares. Based on an average daily trading volume, of 69,500 shares, the days-to-cover ratio is currently 4.1 days.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on ALRS shares. Keefe, Bruyette & Woods boosted their target price on shares of Alerus Financial from $22.00 to $23.00 and gave the company a “market perform” rating in a research note on Monday, July 29th. Piper Sandler upped their price objective on Alerus Financial from $22.50 to $24.00 and gave the company a “neutral” rating in a research note on Monday, July 29th. DA Davidson raised their target price on Alerus Financial from $20.00 to $23.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. Finally, Raymond James upgraded Alerus Financial from a “market perform” rating to an “outperform” rating and set a $24.00 target price on the stock in a research note on Tuesday, September 17th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $23.40.

Alerus Financial Stock Down 1.5 %

Alerus Financial stock opened at $23.22 on Monday. The firm has a 50 day simple moving average of $22.37 and a 200 day simple moving average of $20.86. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 0.16. Alerus Financial has a 1-year low of $17.07 and a 1-year high of $25.85. The firm has a market capitalization of $459.22 million, a price-to-earnings ratio of 47.39 and a beta of 0.66.

Alerus Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Friday, September 13th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.45%. Alerus Financial’s payout ratio is 163.27%.

Institutional Trading of Alerus Financial

A number of institutional investors have recently added to or reduced their stakes in ALRS. Endeavour Capital Advisors Inc. grew its stake in Alerus Financial by 34.0% during the second quarter. Endeavour Capital Advisors Inc. now owns 288,876 shares of the company’s stock valued at $5,665,000 after acquiring an additional 73,342 shares in the last quarter. CWM LLC grew its position in shares of Alerus Financial by 85,625.0% during the 2nd quarter. CWM LLC now owns 58,293 shares of the company’s stock valued at $1,143,000 after purchasing an additional 58,225 shares in the last quarter. Squarepoint Ops LLC raised its position in shares of Alerus Financial by 191.1% in the second quarter. Squarepoint Ops LLC now owns 46,839 shares of the company’s stock worth $919,000 after buying an additional 30,750 shares in the last quarter. Cetera Advisors LLC purchased a new stake in shares of Alerus Financial in the first quarter worth $638,000. Finally, Acadian Asset Management LLC boosted its stake in Alerus Financial by 4,147.8% during the first quarter. Acadian Asset Management LLC now owns 26,294 shares of the company’s stock valued at $573,000 after buying an additional 25,675 shares during the period. Hedge funds and other institutional investors own 51.25% of the company’s stock.

Alerus Financial Company 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.