Zacks Research Upgrades Ames National (NASDAQ:ATLO) to Strong-Buy

Ames National (NASDAQ:ATLO) was upgraded by stock analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Wednesday, Zacks reports.

Separately, Weiss Ratings restated a “buy (b)” rating on shares of Ames National in a research report on Friday, September 4th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, Ames National currently has a consensus rating of “Buy” and a consensus price target of $31.00.

Ames National Trading Up 4.2%

Shares of NASDAQ:ATLO opened at $34.04 on Wednesday. The firm’s 50 day moving average is $31.98 and its two-hundred day moving average is $30.29. Ames National has a 52 week low of $20.51 and a 52 week high of $34.04. The firm has a market capitalization of $301.59 million, a P/E ratio of 11.86 and a beta of 0.31.

Ames National (NASDAQ:ATLO) last released its quarterly earnings results on Friday, October 16th. The financial services provider reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.12. The company had revenue of $20.42 million for the quarter, compared to analysts’ expectations of $19.30 million. Ames National had a return on equity of 12.15% and a net margin of 24.44%. Analysts predict that Ames National will post 2.81 EPS for the current year.

Hedge Funds Weigh In On Ames National

Several hedge funds have recently modified their holdings of the company. Empowered Funds LLC increased its position in shares of Ames National by 6.7% during the 1st quarter. Empowered Funds LLC now owns 11,353 shares of the financial services provider’s stock valued at $320,000 after purchasing an additional 714 shares during the period. Arrowstreet Capital Limited Partnership raised its stake in shares of 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 buying an additional 1,629 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Ames National by 2.7% in the first quarter. Dimensional Fund Advisors LP now owns 273,040 shares of the financial services provider’s stock valued at $7,705,000 after buying an additional 7,120 shares during the period. Pinnacle Associates Ltd. acquired a new stake in shares of Ames National in the third quarter valued at $232,000. Finally, Larry Mathis Financial Planning LLC bought a new position in Ames National during the first quarter valued at about $238,000. 26.47% of the stock is currently owned by institutional investors and hedge funds.

About Ames National

Ames National Corporation is a bank holding company headquartered in Ames, Iowa. Through its subsidiary community banks, the company provides banking and financial services to individuals, families, farmers, and businesses across central Iowa.

Its banking activities include accepting deposits and providing commercial, agricultural, real estate, and consumer loans. The company’s subsidiaries also offer services such as checking and savings accounts, online and mobile banking, cash management, wealth management, and trust-related services.

Ames National Corporation has a long history of community banking in Iowa, with its operations conducted through locally managed banking institutions serving communities in and around Ames and other central Iowa markets.