Ames National (NASDAQ:ATLO) Posts Earnings Results

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

Ames National Stock Performance

Shares of NASDAQ:ATLO opened at $29.62 on Friday. The stock’s 50-day moving average is $29.26 and its 200-day moving average is $27.60. The company has a market cap of $262.34 million, a P/E ratio of 12.24 and a beta of 0.30. Ames National has a 52-week low of $17.90 and a 52-week high of $32.16.

Ames National Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 1st were given a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend was Monday, June 1st. Ames National’s dividend payout ratio (DPR) is currently 39.67%.

Institutional Trading of Ames National

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Empowered Funds LLC increased its position 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 buying an additional 714 shares during the period. Arrowstreet Capital Limited Partnership grew its stake in shares of Ames National by 1.6% in the first 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 grew its stake in shares of Ames National by 62.8% in the first 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 position in Ames National by 2.7% during the first 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 period. Finally, Larry Mathis Financial Planning LLC bought a new position in Ames National during the first quarter worth $238,000. Institutional investors and hedge funds own 26.47% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on ATLO shares. National Bank Financial set a $31.00 price target on Ames National in a report on Wednesday, April 15th. Zacks Research raised shares of Ames National to a “hold” rating in a research 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 raised shares of Ames National to a “hold” rating in a research note on Wednesday, April 15th. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Ames National has an average rating of “Hold” and an average price target of $31.00.

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.