<div id="readability-page-1"><p>Alerus Financial Co. (NASDAQ:ALRS - Get Free Report) saw a significant drop in short interest in October. As of October 15th, there was short interest totalling 286,600 shares,  a drop of 55.4% from the September 30th total of 642,600 shares. Based on an average trading volume of 69,500 shares, the days-to-cover ratio is currently 4.1 days.</p><div><p><span></span><span>Get <strong>Alerus Financial</strong> alerts:</span></p></div><h2>Alerus Financial Price Performance</h2><p>ALRS stock opened at $23.22 on Friday. The company has a market capitalization of $459.22 million, a PE ratio of 47.39 and a beta of 0.66. Alerus Financial has a 12-month low of $17.07 and a 12-month high of $25.85. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 0.16. The business's fifty day moving average price is $22.37 and its 200 day moving average price is $20.85. </p><p>Alerus Financial (NASDAQ:ALRS - Get Free Report) last issued its quarterly earnings results on Wednesday, July 24th. The company reported $0.31 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.37 by ($0.06). The firm had revenue of $80.39 million during the quarter, compared to analysts' expectations of $49.20 million. Alerus Financial had a return on equity of 7.25% and a net margin of 2.39%. During the same quarter in the prior year, the firm earned $0.45 EPS.  On average, sell-side analysts anticipate that  Alerus Financial will post 1.21 EPS for the current year. </p><h2>Alerus Financial Announces Dividend</h2><p>The business also recently declared a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Friday, September 13th were paid a $0.20 dividend. The ex-dividend date  was Friday, September 13th. This represents a $0.80 annualized dividend and a yield of 3.45%. Alerus Financial's dividend payout ratio  is currently 163.27%. </p><h2>Wall Street Analyst Weigh In</h2><p>ALRS has been the subject of several recent research reports. DA Davidson lifted their target price on shares of Alerus Financial from $20.00 to $23.00 and gave the company a &#34;neutral&#34; rating in a report on Thursday, August 1st. Raymond James raised shares of Alerus Financial from a &#34;market perform&#34; rating to an &#34;outperform&#34; rating and set a $24.00 price target on the stock in a research note on Tuesday, September 17th. Keefe, Bruyette &amp; Woods upped their target price on Alerus Financial from $22.00 to $23.00 and gave the company a &#34;market perform&#34; rating in a report on Monday, July 29th. Finally, Piper Sandler increased their price target on shares of Alerus Financial from $22.50 to $24.00 and gave the company a &#34;neutral&#34; rating in a research note on Monday, July 29th. Three equities 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, the stock presently has a consensus rating of &#34;Hold&#34; and an average price target of $23.40.</p><p><b>View Our Latest Report on ALRS</b></p><h2>Institutional Investors Weigh In On Alerus Financial</h2><p>Several hedge funds and other institutional investors have recently bought and sold shares of ALRS. Sippican Capital Advisors boosted its stake in  Alerus Financial by 11.9% during the 1st quarter. Sippican Capital Advisors now owns 67,390 shares of the company's stock worth $1,471,000 after purchasing an additional 7,185 shares during the period.  Empowered Funds LLC lifted its holdings in  Alerus Financial by 44.0% in the first quarter. Empowered Funds LLC now owns 41,599 shares of the company's stock valued at $908,000 after acquiring an additional 12,719 shares during the period.  Vanguard Group Inc. boosted its holdings in  Alerus Financial by 1.5% during the first quarter. Vanguard Group Inc. now owns 911,806 shares of the company's stock worth $19,905,000 after buying an additional 13,637 shares in the last quarter.  Acadian Asset Management LLC grew its holdings in shares of  Alerus Financial by 4,147.8% in the 1st quarter. Acadian Asset Management LLC now owns 26,294 shares of the company's stock worth $573,000 after acquiring an additional 25,675 shares during the period.  Finally, Cetera Advisors LLC acquired a new stake in  Alerus Financial in the first quarter valued at $638,000. 51.25% of the stock is currently owned by institutional investors and hedge funds. </p><h2>About Alerus Financial</h2> (Get Free Report)<p>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.</p><h2>Featured Stories</h2><ul><li>Five stocks we like better than Alerus Financial</li><li>How the NYSE and NASDAQ are Different, Why That Matters to Investors</li><li>Texas Roadhouse Stock Steering for New Highs This Year</li><li>How Investors Can Find the Best Cheap Dividend Stocks</li><li>Monopar Therapeutics Skyrockets 400% on Licensing Deal</li><li>How to Calculate Return on Investment (ROI)</li><li>Tractor Supply Stock Pulls Back: A Prime Buying Opportunity</li></ul><p><em>This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. 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ALRS

<p>Alerus Financial Co. (NASDAQ:ALRS) experienced a significant decline in short interest, dropping 55.4% to 286,600 shares as of October 15. The short-interest ratio is currently 4.1 days based on an average daily volume of 69,500 shares. The company also declared a quarterly dividend of $0.20, with a yield of 3.45%. Analysts have mixed ratings, with a consensus rating of "Hold" and an average price target of $0.40. Institutional investors hold 51.25% of the stock, reflecting increased interest in the company.</p>

Alerus Financial Co. (NASDAQ:ALRS) Sees Significant Decline in Short Interest