Ames National (NASDAQ:ATLO) Shares Pass Above Fifty Day Moving Average – Here’s Why

Shares of Ames National Corporation (NASDAQ:ATLO) crossed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $29.21 and traded as high as $29.66. Ames National shares last traded at $29.52, with a volume of 27,237 shares changing hands.

Wall Street Analysts Forecast Growth

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

Ames National Trading Down 2.7%

The firm’s 50-day simple moving average is $29.24 and its 200 day simple moving average is $27.59. The stock has a market cap of $262.43 million, a P/E ratio of 12.24 and a beta of 0.30.

Ames National (NASDAQ:ATLO) last issued its quarterly earnings data on Friday, July 17th. 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 business had revenue of $19.08 million during the quarter. On average, analysts anticipate that Ames National Corporation will post 2.7 EPS for the current year.

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 issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis 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 39.67%.

Hedge Funds Weigh In On Ames National

Large investors have recently bought and sold shares of the stock. Russell Investments Group Ltd. raised its holdings in Ames National by 86.6% during the third quarter. Russell Investments Group Ltd. now owns 2,573 shares of the financial services provider’s stock worth $52,000 after purchasing an additional 1,194 shares in the last quarter. BNP Paribas Financial Markets increased its position in shares of Ames National by 148.3% during the 3rd 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 during the period. Royal Bank of Canada raised its stake in shares of Ames National by 210.2% in the 4th quarter. Royal Bank of Canada now owns 1,548 shares of the financial services provider’s stock worth $36,000 after buying an additional 1,049 shares in the last quarter. Empowered Funds LLC lifted its holdings in shares of Ames National by 6.7% in the first quarter. Empowered Funds LLC now owns 11,353 shares of the financial services provider’s stock valued at $320,000 after buying an additional 714 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake 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 valued at $7,705,000 after buying an additional 7,120 shares in the last quarter. Institutional investors and hedge funds own 26.47% of the company’s stock.

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.