Ames National (NASDAQ:ATLO) Stock Price Passes Below 50 Day Moving Average – Time to Sell?

Ames National Corporation (NASDAQ:ATLO)’s stock price passed below its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $29.10 and traded as low as $28.65. Ames National shares last traded at $29.07, with a volume of 42,933 shares trading hands.

Wall Street Analysts Forecast Growth

Several analysts have commented on ATLO shares. Zacks Research upgraded shares of Ames National to a “hold” rating in a report on Thursday, April 16th. National Bank Financial set a $31.00 price objective on shares of Ames National in a research report on Wednesday, April 15th. Brean Capital upgraded Ames National to a “hold” rating in a report on Wednesday, April 15th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Ames National in a research note on Tuesday, June 9th. One equities research 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 company has an average rating of “Hold” and a consensus target price of $31.00.

Ames National Trading Up 0.1%

The firm’s 50 day simple moving average is $29.10 and its 200-day simple moving average is $27.28. The stock has a market capitalization of $257.56 million, a price-to-earnings ratio of 12.01 and a beta of 0.30.

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

Ames National Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date was Monday, June 1st. Ames National’s dividend payout ratio (DPR) is currently 39.67%.

Institutional Trading of Ames National

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Geode Capital Management LLC grew its position in shares of Ames National by 2.5% in the 2nd quarter. Geode Capital Management LLC now owns 215,104 shares of the financial services provider’s stock valued at $3,831,000 after acquiring an additional 5,201 shares during the period. Russell Investments Group Ltd. increased its stake in shares of Ames National by 67.6% during the 2nd quarter. Russell Investments Group Ltd. now owns 1,379 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 556 shares during the last quarter. First Trust Advisors LP bought a new stake in shares of Ames National in the 2nd quarter valued at about $187,000. NewEdge Advisors LLC acquired a new stake in Ames National in the 2nd quarter valued at about $367,000. Finally, Jane Street Group LLC acquired a new stake in Ames National in the 2nd quarter valued at about $255,000. 26.47% of the stock is owned by institutional investors.

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.