Alerus Financial Co. (NASDAQ:ALRS - Get Free Report) was the recipient of a large increase in short interest in January. As of January 15th, there was short interest totalling 218,800 shares, an increase of 13.8% from the December 31st total of 192,300 shares. Based on an average daily trading volume, of 101,000 shares, the short-interest ratio is currently 2.2 days.
Analysts Set New Price Targets
A number of brokerages have recently commented on ALRS. Raymond James restated an "outperform" rating and set a $24.00 target price (up previously from $22.00) on shares of Alerus Financial in a report on Thursday, January 30th. Keefe, Bruyette & Woods lifted their price target on 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 lifted their price target on Alerus Financial from $21.00 to $24.00 and gave the stock a "neutral" rating in a research report on Thursday, January 30th. Finally, DA Davidson reaffirmed a "neutral" rating and issued a $23.00 price target on shares of Alerus Financial in a research report on Thursday, January 30th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $23.40.
Check Out Our Latest Stock Analysis on Alerus Financial
Alerus Financial Stock Performance
NASDAQ:ALRS traded up $0.06 during mid-day trading on Wednesday, reaching $21.78. The company's stock had a trading volume of 36,851 shares, compared to its average volume of 90,137. Alerus Financial has a 12-month low of $17.99 and a 12-month high of $24.41. The firm's fifty day moving average price is $20.40 and its two-hundred day moving average price is $21.48. 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 stock has a market cap of $551.78 million, a P/E ratio of 21.34 and a beta of 0.71.
Alerus Financial (NASDAQ:ALRS - Get Free Report) last released its earnings results on Tuesday, January 28th. The company reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.16. Alerus Financial had a net margin of 6.26% and a return on equity of 7.66%. On average, equities analysts forecast that Alerus Financial will post 2.14 EPS for the current fiscal year.
Alerus Financial Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, January 17th. Investors of record on Friday, December 27th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.67%. The ex-dividend date of this dividend was Friday, December 27th. Alerus Financial's dividend payout ratio (DPR) is presently 78.43%.
Institutional Trading of Alerus Financial
Institutional investors have recently bought and sold shares of the stock. Stieven Capital Advisors L.P. bought a new stake in shares of Alerus Financial during the third quarter worth $5,966,000. Grace & White Inc. NY bought a new stake in shares of Alerus Financial in the fourth quarter valued at about $4,930,000. Choreo LLC bought a new stake in shares of Alerus Financial in the fourth quarter valued at about $2,620,000. Fortress Financial Group LLC bought a new stake in shares of Alerus Financial in the fourth quarter valued at about $1,638,000. Finally, Empowered Funds LLC raised its holdings in shares of Alerus Financial by 70.8% in the fourth quarter. Empowered Funds LLC now owns 80,184 shares of the company's stock valued at $1,543,000 after acquiring an additional 33,247 shares in the last quarter. 51.25% of the stock is currently owned by institutional investors.
Alerus Financial Company Profile
(
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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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