Short Interest in Alerus Financial Co. (NASDAQ:ALRS) Decreases By 15.0%

Alerus Financial Co. (NASDAQ:ALRS) saw a significant decline in short interest during the month of October. As of October 31st, there was short interest totalling 243,500 shares, a decline of 15.0% from the October 15th total of 286,600 shares. Based on an average trading volume of 74,700 shares, the days-to-cover ratio is currently 3.3 days.

Alerus Financial Trading Down 0.3 %

NASDAQ:ALRS opened at $22.09 on Friday. The stock has a market capitalization of $559.76 million, a price-to-earnings ratio of 138.07 and a beta of 0.68. Alerus Financial has a 1 year low of $18.05 and a 1 year high of $25.85. The stock has a fifty day moving average price of $22.39 and a two-hundred day moving average price of $21.03. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.85 and a current ratio of 0.85.

Alerus Financial (NASDAQ:ALRS) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.18). The company had revenue of $80.58 million during the quarter, compared to analysts’ expectations of $52.30 million. Alerus Financial had a net margin of 1.01% and a return on equity of 6.02%. During the same quarter in the prior year, the business earned $0.45 EPS. As a group, sell-side analysts anticipate that Alerus Financial will post 0.97 earnings per share for the current fiscal year.

Alerus Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, September 13th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 3.62%. The ex-dividend date of this dividend was Friday, September 13th. Alerus Financial’s dividend payout ratio (DPR) is 500.03%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Piper Sandler decreased their price objective on shares of Alerus Financial from $24.00 to $23.00 and set a “neutral” rating for the company in a research report on Thursday, October 31st. Raymond James raised Alerus Financial from a “market perform” rating to an “outperform” rating and set a $24.00 price objective for the company in a research report on Tuesday, September 17th. DA Davidson lifted their target price on shares of Alerus Financial from $20.00 to $23.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. Finally, Keefe, Bruyette & Woods boosted their price target on shares of Alerus Financial from $22.00 to $23.00 and gave the stock a “market perform” rating in a research note on Monday, July 29th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $23.20.

Hedge Funds Weigh In On Alerus Financial

Several hedge funds have recently bought and sold shares of the company. Federated Hermes Inc. grew its holdings in Alerus Financial by 380.7% in the second quarter. Federated Hermes Inc. now owns 1,519 shares of the company’s stock valued at $30,000 after purchasing an additional 1,203 shares during the last quarter. SG Americas Securities LLC acquired a new position in Alerus Financial during the third quarter worth about $142,000. Harbor Advisors LLC purchased a new stake in shares of Alerus Financial in the third quarter valued at about $226,000. Bailard Inc. acquired a new stake in shares of Alerus Financial in the second quarter valued at approximately $265,000. Finally, Inspire Investing LLC purchased a new position in shares of Alerus Financial during the 3rd quarter worth approximately $417,000. 51.25% of the stock is owned by hedge funds and other institutional investors.

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.