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

Alerus Financial Co. (NASDAQ:ALRS) was the target of a large drop in short interest in March. As of March 31st, there was short interest totalling 399,500 shares, a drop of 5.8% from the March 15th total of 424,100 shares. Based on an average daily volume of 41,200 shares, the days-to-cover ratio is currently 9.7 days.

Analysts Set New Price Targets

A number of research firms have commented on ALRS. DA Davidson raised their target price on Alerus Financial from $23.00 to $24.00 and gave the company a “neutral” rating in a report on Tuesday, January 30th. Piper Sandler increased their price target on shares of Alerus Financial from $20.00 to $23.00 and gave the company a “neutral” rating in a research report on Wednesday, December 20th. Finally, TheStreet downgraded Alerus Financial from a “b-” rating to a “c+” rating in a research report on Wednesday, March 13th.

Institutional Investors Weigh In On Alerus Financial

Large investors have recently made changes to their positions in the company. Lazard Asset Management LLC increased its stake in shares of Alerus Financial by 71.1% in the first quarter. Lazard Asset Management LLC now owns 1,194 shares of the company’s stock worth $33,000 after acquiring an additional 496 shares during the last quarter. Tower Research Capital LLC TRC lifted its stake in Alerus Financial by 68.3% in the third quarter. Tower Research Capital LLC TRC now owns 1,510 shares of the company’s stock valued at $34,000 after acquiring an additional 613 shares during the last quarter. Royal Bank of Canada grew its position in Alerus Financial by 248.1% in the second quarter. Royal Bank of Canada now owns 2,994 shares of the company’s stock worth $54,000 after acquiring an additional 2,134 shares in the last quarter. Osaic Holdings Inc. boosted its position in Alerus Financial by 67.3% during the second quarter. Osaic Holdings Inc. now owns 3,658 shares of the company’s stock worth $66,000 after purchasing an additional 1,471 shares during the period. Finally, ICA Group Wealth Management LLC acquired a new stake in shares of Alerus Financial in the fourth quarter valued at about $81,000. Institutional investors and hedge funds own 51.25% of the company’s stock.

Alerus Financial Stock Down 1.0 %

Shares of NASDAQ ALRS traded down $0.20 during midday trading on Tuesday, reaching $19.74. 1,629 shares of the company’s stock were exchanged, compared to its average volume of 40,551. Alerus Financial has a 52-week low of $13.11 and a 52-week high of $25.85. The business’s fifty day moving average price is $21.64 and its two-hundred day moving average price is $20.44. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.83 and a current ratio of 0.83. The stock has a market capitalization of $389.67 million, a PE ratio of 34.98 and a beta of 0.65.

Alerus Financial (NASDAQ:ALRS) last posted its quarterly earnings results on Wednesday, January 24th. The company reported $0.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.05). Alerus Financial had a net margin of 4.34% and a return on equity of 8.69%. The company had revenue of $46.99 million during the quarter, compared to analyst estimates of $45.00 million. Analysts forecast that Alerus Financial will post 1.53 EPS for the current year.

Alerus Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Friday, March 15th were given a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 3.85%. The ex-dividend date was Thursday, March 14th. Alerus Financial’s dividend payout ratio (DPR) is presently 133.34%.

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.