Alerus Financial (NASDAQ:ALRS) Sees Unusually-High Trading Volume – Here’s What Happened

Alerus Financial Co. (NASDAQ:ALRS) saw unusually-high trading volume on Wednesday . Approximately 207,621 shares traded hands during mid-day trading, an increase of 247% from the previous session’s volume of 59,794 shares.The stock last traded at $22.04 and had previously closed at $22.07.

Analyst Upgrades and Downgrades

ALRS has been the topic of a number of research analyst reports. Raymond James upgraded shares of Alerus Financial from a “market perform” rating to an “outperform” rating and set a $24.00 target price on the stock in a research note on Tuesday, September 17th. Keefe, Bruyette & Woods boosted their price target on shares of Alerus Financial from $22.00 to $23.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. Finally, Piper Sandler lowered their price target on shares of 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 investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $23.20.

Alerus Financial Trading Down 0.2 %

The firm’s 50-day moving average price is $22.40 and its 200-day moving average price is $21.28. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.15. The company has a market cap of $557.94 million, a P/E ratio of 137.94 and a beta of 0.69.

Alerus Financial (NASDAQ:ALRS) last posted its earnings results on Tuesday, October 29th. The company reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.18). The firm had revenue of $80.58 million for the quarter, compared to the consensus estimate of $52.30 million. Alerus Financial had a return on equity of 6.02% and a net margin of 1.01%. During the same period last year, the company posted $0.45 EPS. As a group, equities research analysts expect that Alerus Financial Co. will post 0.97 earnings per share for the current fiscal year.

Institutional Trading of Alerus Financial

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Geode Capital Management LLC increased its holdings in Alerus Financial by 4.0% during the 3rd quarter. Geode Capital Management LLC now owns 416,072 shares of the company’s stock worth $9,522,000 after acquiring an additional 15,966 shares during the period. State Street Corp grew its stake in Alerus Financial by 1.0% in the 3rd quarter. State Street Corp now owns 351,775 shares of the company’s stock worth $8,118,000 after buying an additional 3,623 shares in the last quarter. Endeavour Capital Advisors Inc. grew its stake in Alerus Financial by 34.0% in the 2nd quarter. Endeavour Capital Advisors Inc. now owns 288,876 shares of the company’s stock worth $5,665,000 after buying an additional 73,342 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Alerus Financial by 2.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 274,615 shares of the company’s stock worth $5,384,000 after buying an additional 7,300 shares in the last quarter. Finally, Stieven Capital Advisors L.P. purchased a new position in Alerus Financial in the 3rd quarter worth approximately $5,966,000. Institutional investors own 51.25% of the company’s stock.

About Alerus Financial

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.