Alerus Financial (NASDAQ:ALRS) Short Interest Up 30.6% in August

Key Points

• Alerus Financial's short interest surged by 30.6% in August, rising from 179,400 shares at the end of July to 234,300 shares.
• Analysts upgraded their price targets for Alerus Financial, with estimates now ranging from $25.00 to $27.00, although the stock has a consensus rating of "Hold."
• The company recently declared a quarterly dividend of $0.21, with a dividend yield of 3.7% and a payout ratio of approximately 49.70%.

Alerus Financial (NASDAQ:ALRS - Get Free Report) was the recipient of a large increase in short interest during the month of August. As of August 15th, there was short interest totaling 234,300 shares, an increase of 30.6% from the July 31st total of 179,400 shares. Based on an average trading volume of 76,200 shares, the days-to-cover ratio is currently 3.1 days. Based on an average trading volume of 76,200 shares, the days-to-cover ratio is currently 3.1 days.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC raised its holdings in Alerus Financial by 457.6% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,277 shares of the company's stock worth $25,000 after purchasing an additional 1,048 shares in the last quarter. Thompson Investment Management Inc. bought a new position in Alerus Financial in the 2nd quarter worth $32,000. NewEdge Advisors LLC raised its holdings in Alerus Financial by 90.1% in the 2nd quarter. NewEdge Advisors LLC now owns 1,544 shares of the company's stock worth $33,000 after purchasing an additional 732 shares in the last quarter. State of Wyoming purchased a new stake in shares of Alerus Financial in the 1st quarter worth about $49,000. Finally, BNP Paribas Financial Markets purchased a new stake in shares of Alerus Financial in the 4th quarter worth about $56,000. 51.25% of the stock is currently owned by institutional investors.

Alerus Financial Trading Down 0.4%

NASDAQ ALRS traded down $0.10 during trading on Friday, hitting $22.71. The company had a trading volume of 60,736 shares, compared to its average volume of 68,302. The company has a current ratio of 0.88, a quick ratio of 0.87 and a debt-to-equity ratio of 0.11. Alerus Financial has a one year low of $15.78 and a one year high of $24.41. The company has a market cap of $576.74 million, a price-to-earnings ratio of 13.44 and a beta of 0.71. The company's fifty day moving average is $22.01 and its 200-day moving average is $20.54.

Alerus Financial (NASDAQ:ALRS - Get Free Report) last issued its quarterly earnings data on Monday, July 28th. The company reported $0.72 EPS for the quarter, topping the consensus estimate of $0.56 by $0.16. Alerus Financial had a net margin of 11.06% and a return on equity of 10.21%. The business had revenue of $74.80 million during the quarter, compared to analyst estimates of $69.96 million. On average, sell-side analysts predict that Alerus Financial will post 2.14 earnings per share for the current year.

Alerus Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Friday, September 26th will be issued a $0.21 dividend. The ex-dividend date is Friday, September 26th. This represents a $0.84 annualized dividend and a yield of 3.7%. Alerus Financial's dividend payout ratio is 49.70%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on ALRS. DA Davidson boosted their price objective on shares of Alerus Financial from $20.00 to $25.00 and gave the stock a "neutral" rating in a report on Tuesday, July 29th. Raymond James Financial reiterated an "outperform" rating and set a $27.00 price target (up from $24.00) on shares of Alerus Financial in a report on Tuesday, July 29th. Piper Sandler upped their price target on shares of Alerus Financial from $24.00 to $25.50 and gave the company a "neutral" rating in a report on Wednesday, July 30th. Keefe, Bruyette & Woods upped their price target on shares of Alerus Financial from $22.00 to $25.00 and gave the company a "market perform" rating in a report on Tuesday, July 29th. Finally, Wall Street Zen lowered shares of Alerus Financial from a "buy" rating to a "hold" rating in a report on Sunday, August 17th. One research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $25.63.

Alerus Financial Company Profile

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.