Alerus Financial Co. (NASDAQ:ALRS) Sees Significant Increase in Short Interest

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

Alerus Financial Trading Up 1.2 %

Alerus Financial stock opened at $19.62 on Friday. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.15. Alerus Financial has a 52 week low of $17.99 and a 52 week high of $25.85. The company has a market capitalization of $497.13 million, a price-to-earnings ratio of 122.63 and a beta of 0.71. The stock has a 50-day moving average price of $20.80 and a 200 day moving average price of $21.43.

Alerus Financial (NASDAQ:ALRS) last released its earnings results on Tuesday, October 29th. The company reported $0.26 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.18). Alerus Financial had a return on equity of 6.02% and a net margin of 1.01%. The firm had revenue of $80.58 million for the quarter, compared to analyst estimates of $52.30 million. During the same period last year, the firm earned $0.45 EPS. Sell-side analysts anticipate that Alerus Financial will post 0.92 EPS for the current year.

Alerus Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, January 17th. Investors of record on Friday, December 27th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 4.08%. The ex-dividend date was Friday, December 27th. Alerus Financial’s dividend payout ratio is currently 500.00%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Federated Hermes Inc. raised its position in Alerus Financial by 380.7% during the second quarter. Federated Hermes Inc. now owns 1,519 shares of the company’s stock valued at $30,000 after acquiring an additional 1,203 shares in the last quarter. SG Americas Securities LLC purchased a new position in Alerus Financial during the third quarter valued at approximately $142,000. Harbor Advisors LLC purchased a new position in Alerus Financial during the third quarter valued at approximately $226,000. Inspire Investing LLC raised its position in Alerus Financial by 14.9% during the fourth quarter. Inspire Investing LLC now owns 20,947 shares of the company’s stock valued at $403,000 after acquiring an additional 2,717 shares in the last quarter. Finally, Walleye Capital LLC purchased a new position in Alerus Financial during the third quarter valued at approximately $424,000. 51.25% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have weighed in on ALRS shares. Raymond James started coverage on Alerus Financial in a report on Tuesday. They issued an “outperform” rating and a $22.00 price target for the company. Keefe, Bruyette & Woods raised their price target on Alerus Financial from $22.00 to $23.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. Finally, Piper Sandler lowered their price target on Alerus Financial from $24.00 to $23.00 and set a “neutral” rating for the company in a report on Thursday, October 31st. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Alerus Financial currently has an average rating of “Hold” and an average target price of $22.80.

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.