Ames National (NASDAQ:ATLO) Stock Rating Upgraded by Zacks Research

Ames National (NASDAQ:ATLO) was upgraded by research analysts at Zacks Research to a “hold” rating in a research note issued on Thursday,Zacks.com reports.

Several other equities research analysts have also issued reports on the company. National Bank Financial set a $31.00 price target on Ames National in a research report on Wednesday. Weiss Ratings reissued a “buy (b-)” rating on shares of Ames National in a research report on Monday, December 29th. Finally, Brean Capital raised Ames National to a “hold” rating in a research report on Wednesday. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $31.00.

Ames National Trading Up 1.1%

ATLO stock opened at $28.66 on Thursday. The firm has a market cap of $253.93 million, a P/E ratio of 13.39 and a beta of 0.33. Ames National has a 12-month low of $16.52 and a 12-month high of $29.71. The stock’s 50 day simple moving average is $27.68 and its 200 day simple moving average is $24.22.

Ames National (NASDAQ:ATLO) last posted its quarterly earnings results on Friday, January 23rd. The financial services provider reported $0.73 earnings per share (EPS) for the quarter. The business had revenue of $15.34 million for the quarter. Ames National had a return on equity of 9.70% and a net margin of 19.36%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Empowered Funds LLC grew its stake in shares of Ames National by 6.4% in the fourth quarter. Empowered Funds LLC now owns 10,639 shares of the financial services provider’s stock worth $244,000 after purchasing an additional 642 shares in the last quarter. Bridgeway Capital Management LLC grew its stake in shares of Ames National by 4.0% in the fourth quarter. Bridgeway Capital Management LLC now owns 16,647 shares of the financial services provider’s stock worth $382,000 after purchasing an additional 642 shares in the last quarter. AQR Capital Management LLC grew its stake in shares of Ames National by 25.3% in the fourth quarter. AQR Capital Management LLC now owns 30,142 shares of the financial services provider’s stock worth $692,000 after purchasing an additional 6,094 shares in the last quarter. Royal Bank of Canada grew its stake in shares of Ames National by 210.2% in the fourth quarter. Royal Bank of Canada now owns 1,548 shares of the financial services provider’s stock worth $36,000 after purchasing an additional 1,049 shares in the last quarter. Finally, Segall Bryant & Hamill LLC bought a new position in shares of Ames National in the fourth quarter worth $907,000. Institutional investors own 26.47% of the company’s stock.

Ames National Company Profile

Ames National Corporation is the bank holding company for Ames National Bank, a full-service community bank headquartered in Ames, Iowa. Through its subsidiary, the company provides a range of commercial and consumer banking products designed to meet the needs of individuals, small businesses, farmers and agribusiness clients in central Iowa. Its network of branch offices serves Story County and neighboring counties, supporting local economic development and community initiatives.

The company’s core offerings include checking and savings accounts, money market and certificate of deposit products, along with online and mobile banking services.