Ames National (NASDAQ:ATLO) Shares Pass Above 50-Day Moving Average – Here’s What Happened

Ames National Corporation (NASDAQ:ATLO) shares crossed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $28.15 and traded as high as $29.22. Ames National shares last traded at $28.80, with a volume of 42,272 shares trading hands.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Brean Capital raised Ames National to a “hold” rating in a research note on Wednesday, April 15th. National Bank Financial set a $31.00 target price on Ames National in a research note on Wednesday, April 15th. Finally, Zacks Research raised Ames National to a “hold” rating in a research note on Thursday, April 16th. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $31.00.

Ames National Trading Up 0.0%

The firm has a 50 day moving average of $28.15 and a 200-day moving average of $25.65. The company has a market cap of $255.17 million, a P/E ratio of 11.90 and a beta of 0.30.

Ames National (NASDAQ:ATLO) last issued its earnings results on Friday, April 24th. The financial services provider reported $0.67 earnings per share (EPS) for the quarter. Ames National had a return on equity of 10.65% and a net margin of 21.63%.The company had revenue of $18.22 million for the quarter. Equities analysts predict that Ames National Corporation will post 2.7 EPS for the current fiscal year.

Ames National Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 1st will be paid a $0.24 dividend. The ex-dividend date of this dividend is Monday, June 1st. This represents a $0.96 dividend on an annualized basis and a yield of 3.3%. Ames National’s payout ratio is presently 39.67%.

Institutional Trading of Ames National

A number of large investors have recently added to or reduced their stakes in the company. Empowered Funds LLC increased its stake in Ames National by 6.7% in the 1st quarter. Empowered Funds LLC now owns 11,353 shares of the financial services provider’s stock worth $320,000 after acquiring an additional 714 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its stake in Ames National by 1.6% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 100,392 shares of the financial services provider’s stock worth $2,833,000 after acquiring an additional 1,629 shares during the last quarter. First Trust Advisors LP increased its stake in Ames National by 62.8% in the 1st quarter. First Trust Advisors LP now owns 29,683 shares of the financial services provider’s stock worth $838,000 after acquiring an additional 11,445 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Ames National by 2.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 273,040 shares of the financial services provider’s stock worth $7,705,000 after acquiring an additional 7,120 shares during the last quarter. Finally, Larry Mathis Financial Planning LLC bought a new stake in Ames National in the 1st quarter worth approximately $238,000. Institutional investors own 26.47% of the company’s stock.

About Ames National

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.