Short Interest in Alerus Financial Co. (NASDAQ:ALRS) Drops By 26.5%

Alerus Financial Co. (NASDAQ:ALRS) was the target of a significant drop in short interest during the month of November. As of November 30th, there was short interest totalling 186,500 shares, a drop of 26.5% from the November 15th total of 253,900 shares. Based on an average trading volume of 84,400 shares, the short-interest ratio is presently 2.2 days.

Institutional Investors Weigh In On Alerus Financial

Several hedge funds have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp raised its position in shares of Alerus Financial by 4.5% in the second quarter. Bank of New York Mellon Corp now owns 123,512 shares of the company’s stock valued at $2,422,000 after purchasing an additional 5,323 shares during the period. Bailard Inc. acquired a new stake in Alerus Financial during the second quarter worth approximately $265,000. Federated Hermes Inc. lifted 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 worth $30,000 after acquiring an additional 1,203 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Alerus Financial by 2.7% during the second quarter. Dimensional Fund Advisors LP now owns 274,615 shares of the company’s stock worth $5,384,000 after acquiring an additional 7,300 shares during the period. Finally, Hsbc Holdings PLC grew its position in shares of Alerus Financial by 58.8% in the second quarter. Hsbc Holdings PLC now owns 38,564 shares of the company’s stock valued at $727,000 after purchasing an additional 14,273 shares during the last quarter. Institutional investors and hedge funds own 51.25% of the company’s stock.

Alerus Financial Stock Performance

Shares of Alerus Financial stock traded up $0.20 during trading on Friday, hitting $22.04. 67,554 shares of the stock were exchanged, compared to its average volume of 60,786. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.15. The company has a fifty day moving average price of $22.38 and a 200-day moving average price of $21.32. The stock has a market capitalization of $558.45 million, a price-to-earnings ratio of 137.75 and a beta of 0.69. Alerus Financial has a 1-year low of $18.09 and a 1-year high of $25.85.

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

Alerus Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 17th. Investors of record on Friday, December 27th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 3.63%. The ex-dividend date is Friday, December 27th. Alerus Financial’s dividend payout ratio (DPR) is presently 500.00%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on ALRS. Keefe, Bruyette & Woods lifted 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 report on Wednesday, December 4th. Piper Sandler reduced their price objective on shares of Alerus Financial from $24.00 to $23.00 and set a “neutral” rating on the stock in a research note on Thursday, October 31st. Finally, Raymond James raised shares of Alerus Financial from a “market perform” rating to an “outperform” rating and set a $24.00 target price for the company in a research note on Tuesday, September 17th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $23.20.

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.