Alerus Financial Co. (NASDAQ:ALRS - Get Free Report) was the recipient of a significant drop in short interest in 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 daily volume of 84,400 shares, the days-to-cover ratio is currently 2.2 days.
Institutional Inflows and Outflows
A number of institutional investors have recently bought and sold shares of the stock. Bank of New York Mellon Corp grew its holdings in shares of Alerus Financial by 4.5% during the second quarter. Bank of New York Mellon Corp now owns 123,512 shares of the company's stock worth $2,422,000 after buying an additional 5,323 shares in the last quarter. Bailard Inc. bought a new position in shares of Alerus Financial during the 2nd quarter worth approximately $265,000. Federated Hermes Inc. raised its holdings in shares of 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. Dimensional Fund Advisors LP lifted its position in shares of Alerus Financial by 2.7% in the second quarter. Dimensional Fund Advisors LP now owns 274,615 shares of the company's stock worth $5,384,000 after purchasing an additional 7,300 shares in the last quarter. Finally, Hsbc Holdings PLC boosted its holdings in Alerus Financial by 58.8% during the second quarter. Hsbc Holdings PLC now owns 38,564 shares of the company's stock worth $727,000 after purchasing an additional 14,273 shares during the last quarter. Institutional investors own 51.25% of the company's stock.
Analyst Ratings Changes
A number of equities research analysts recently weighed in on ALRS shares. 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 Wednesday, December 4th. Raymond James raised Alerus Financial from a "market perform" rating to an "outperform" rating and set a $24.00 price target on the stock in a research note on Tuesday, September 17th. Finally, Piper Sandler reduced their price target on Alerus Financial from $24.00 to $23.00 and set a "neutral" rating on the stock in a research report on Thursday, October 31st. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $23.20.
View Our Latest Analysis on Alerus Financial
Alerus Financial Trading Up 0.9 %
NASDAQ:ALRS traded up $0.20 during trading hours on Friday, hitting $22.04. The stock had a trading volume of 67,554 shares, compared to its average volume of 60,786. The business's 50 day moving average is $22.38 and its 200-day moving average is $21.32. The company has a market cap of $558.45 million, a price-to-earnings ratio of 137.75 and a beta of 0.69. Alerus Financial has a one year low of $18.09 and a one year high of $25.85. 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 - Get Free Report) last issued its quarterly earnings data on Tuesday, October 29th. The company reported $0.26 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.18). Alerus Financial had a return on equity of 6.02% and a net margin of 1.01%. The business had revenue of $80.58 million for the quarter, compared to analyst estimates of $52.30 million. During the same period in the previous year, the business posted $0.45 EPS. Sell-side analysts anticipate that Alerus Financial will post 0.97 EPS for the current fiscal year.
Alerus Financial Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Investors of record on Friday, December 27th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, December 27th. This represents a $0.80 dividend on an annualized basis and a yield of 3.63%. Alerus Financial's payout ratio is 500.00%.
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.
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