ALERUS FINL COR/SH’s (OTCMKTS:ALRS) Quiet Period To Expire Tomorrow

ALERUS FINL COR/SH’s (OTCMKTS:ALRS) quiet period will expire on Wednesday, October 23rd. ALERUS FINL COR/SH had issued 2,860,000 shares in its initial public offering on September 13th. The total size of the offering was $60,060,000 based on an initial share price of $21.00. During ALERUS FINL COR/SH’s quiet period, insiders and underwriters involved in the IPO are restricted from issuing any earnings forecasts or research reports for the company because of SEC regulations. Following the expiration of the company’s quiet period, it’s expected that the brokerages that served as underwriters on the stock will initiate research coverage on the company.

A number of analysts have recently issued reports on ALRS shares. DA Davidson started coverage on shares of ALERUS FINL COR/SH in a report on Tuesday, October 8th. They set a “neutral” rating on the stock. Raymond James started coverage on shares of ALERUS FINL COR/SH in a report on Tuesday, October 8th. They set an “outperform” rating and a $25.00 price target on the stock. Finally, Piper Jaffray Companies started coverage on shares of ALERUS FINL COR/SH in a report on Tuesday, October 8th. They set a “neutral” rating and a $23.00 price target on the stock.

Shares of OTCMKTS ALRS opened at $21.32 on Tuesday. The firm’s 50-day moving average price is $21.61 and its 200-day moving average price is $19.71. ALERUS FINL COR/SH has a 52-week low of $18.70 and a 52-week high of $24.00.

The business also recently declared a — dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, September 20th were issued a dividend of $0.14 per share. This represents a dividend yield of 2.5%. The ex-dividend date was Thursday, September 19th.

In other news, CFO Katie A. Lorenson bought 5,500 shares of the firm’s stock in a transaction on Tuesday, September 17th. The shares were bought at an average price of $21.00 per share, for a total transaction of $115,500.00. Also, CEO Randy L. Newman bought 4,571 shares of the firm’s stock in a transaction on Tuesday, September 17th. The shares were purchased at an average price of $21.00 per share, for a total transaction of $95,991.00. In the last ninety days, insiders have bought 13,071 shares of company stock worth $274,491.

ALERUS FINL COR/SH Company Profile

Alerus Financial Corporation, through its subsidiaries, provides various financial services for individuals, families, and businesses. It offers checking and savings accounts, certificates of deposit, personal loans, lines of credit, debit and credit cards, deposit and payment solutions, and mobile wallet, as well as online banking and bill pay, mobile banking, and private banking services.

Further Reading: What is Considered a Good Return on Equity (ROE)?

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