Ames National (NASDAQ:ATLO) Posts Earnings Results

Ames National (NASDAQ:ATLO) posted its earnings results on Friday. The financial services provider reported $0.67 EPS for the quarter, FiscalAI reports. The business had revenue of $19.08 million for the quarter. Ames National had a net margin of 21.63% and a return on equity of 10.65%.

Ames National Price Performance

Ames National stock traded down $0.83 during trading hours on Friday, hitting $29.62. The company had a trading volume of 33,450 shares, compared to its average volume of 58,345. Ames National has a fifty-two week low of $17.90 and a fifty-two week high of $32.16. The firm has a market capitalization of $262.43 million, a P/E ratio of 12.24 and a beta of 0.30. The firm’s fifty day moving average is $29.24 and its 200-day moving average is $27.59.

Ames National Announces Dividend

The business also recently disclosed 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 annualized dividend and a yield of 3.2%. The ex-dividend date was Monday, June 1st. Ames National’s dividend payout ratio is currently 39.67%.

Hedge Funds Weigh In On Ames National

Institutional investors and hedge funds have recently modified their holdings of the stock. Russell Investments Group Ltd. raised its holdings in shares of Ames National by 67.6% during the second quarter. Russell Investments Group Ltd. now owns 1,379 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 556 shares in the last quarter. Royal Bank of Canada grew its stake in 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 valued at $36,000 after purchasing an additional 1,049 shares in the last quarter. BNP Paribas Financial Markets grew its stake in Ames National by 148.3% in the third quarter. BNP Paribas Financial Markets now owns 2,175 shares of the financial services provider’s stock valued at $44,000 after purchasing an additional 1,299 shares in the last quarter. Deutsche Bank AG increased its position in Ames National by 42.3% in the 4th quarter. Deutsche Bank AG now owns 6,348 shares of the financial services provider’s stock worth $146,000 after purchasing an additional 1,886 shares during the last quarter. Finally, First Trust Advisors LP acquired a new position in Ames National in the 2nd quarter worth about $187,000. 26.47% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on ATLO shares. National Bank Financial set a $31.00 price target on shares of Ames National in a report on Wednesday, April 15th. Zacks Research upgraded shares of Ames National to a “hold” rating in a report on Thursday, April 16th. Weiss Ratings reissued a “buy (b)” rating on shares of Ames National in a research report on Tuesday, June 9th. Finally, Brean Capital upgraded Ames National to a “hold” rating in a research note on Wednesday, April 15th. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $31.00.

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.