Alerus Financial Co. (NASDAQ:ALRS - Get Free Report) saw a significant decrease in short interest in January. As of January 31st, there was short interest totalling 200,200 shares, a decrease of 9.2% from the January 15th total of 220,500 shares. Based on an average daily volume of 84,900 shares, the days-to-cover ratio is presently 2.4 days.
Institutional Trading of Alerus Financial
Several hedge funds and other institutional investors have recently made changes to their positions in ALRS. Tower Research Capital LLC TRC lifted its holdings in shares of Alerus Financial by 457.6% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,277 shares of the company's stock valued at $25,000 after purchasing an additional 1,048 shares during the last quarter. Legal & General Group Plc lifted its holdings in shares of Alerus Financial by 32.7% during the 4th quarter. Legal & General Group Plc now owns 2,025 shares of the company's stock valued at $39,000 after purchasing an additional 499 shares during the last quarter. Summit Investment Advisors Inc. lifted its holdings in shares of Alerus Financial by 31.9% during the 4th quarter. Summit Investment Advisors Inc. now owns 2,349 shares of the company's stock valued at $45,000 after purchasing an additional 568 shares during the last quarter. BNP Paribas Financial Markets purchased a new stake in shares of Alerus Financial during the 4th quarter valued at $56,000. Finally, New York State Common Retirement Fund raised its stake in Alerus Financial by 41.7% in the 4th quarter. New York State Common Retirement Fund now owns 6,451 shares of the company's stock worth $124,000 after acquiring an additional 1,900 shares during the last quarter. Hedge funds and other institutional investors own 51.25% of the company's stock.
Alerus Financial Stock Down 2.4 %
NASDAQ ALRS traded down $0.52 during midday trading on Wednesday, hitting $21.30. 40,039 shares of the company traded hands, compared to its average volume of 82,954. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.85 and a quick ratio of 0.85. The company has a market cap of $539.74 million, a PE ratio of 20.88 and a beta of 0.71. The company's 50-day simple moving average is $20.33 and its 200-day simple moving average is $21.45. Alerus Financial has a 52 week low of $17.99 and a 52 week high of $24.41.
Alerus Financial (NASDAQ:ALRS - Get Free Report) last announced its earnings results on Tuesday, January 28th. The company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.16. Alerus Financial had a return on equity of 7.66% and a net margin of 6.26%. As a group, equities research analysts forecast that Alerus Financial will post 2.14 earnings per share for the current year.
Alerus Financial Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 17th. Stockholders of record on Friday, December 27th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Friday, December 27th. This represents a $0.80 annualized dividend and a dividend yield of 3.76%. Alerus Financial's dividend payout ratio is presently 78.43%.
Wall Street Analyst Weigh In
Several brokerages recently issued reports on ALRS. DA Davidson reissued a "neutral" rating and issued a $23.00 price objective on shares of Alerus Financial in a research note on Thursday, January 30th. Keefe, Bruyette & Woods increased their price objective on Alerus Financial from $22.00 to $23.00 and gave the stock a "market perform" rating in a research note on Wednesday, December 4th. Raymond James reissued an "outperform" rating and issued a $24.00 price objective (up previously from $22.00) on shares of Alerus Financial in a research note on Thursday, January 30th. Finally, Piper Sandler increased their price objective on Alerus Financial from $21.00 to $24.00 and gave the stock a "neutral" rating in a research note on Thursday, January 30th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $23.40.
Read Our Latest Research Report on Alerus Financial
Alerus Financial Company Profile
(
Get Free Report)
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.
Recommended Stories
Before you consider Alerus Financial, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Alerus Financial wasn't on the list.
While Alerus Financial currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
