Ames National (NASDAQ:ATLO) Stock Price Passes Above 50-Day Moving Average – Here’s What Happened

Ames National Corporation (NASDAQ:ATLO) shares passed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $29.40 and traded as high as $29.79. Ames National shares last traded at $29.79, with a volume of 43,077 shares traded.

Wall Street Analyst Weigh In

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

Ames National Price Performance

The firm has a fifty day simple moving average of $29.40 and a two-hundred day simple moving average of $27.82. The firm has a market capitalization of $263.94 million, a P/E ratio of 12.31 and a beta of 0.30.

Ames National (NASDAQ:ATLO) last issued its earnings results 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 firm had revenue of $19.08 million for the quarter. On average, research analysts anticipate that Ames National Corporation will post 2.7 EPS for the current year.

Ames National Dividend Announcement

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

Institutional Investors Weigh In On Ames National

Several institutional investors have recently added to or reduced their stakes in ATLO. Russell Investments Group Ltd. lifted its holdings in Ames National by 67.6% in the 2nd quarter. Russell Investments Group Ltd. now owns 1,379 shares of the financial services provider’s stock worth $25,000 after buying an additional 556 shares during the period. Royal Bank of Canada increased its stake in shares of Ames National by 210.2% during the fourth quarter. Royal Bank of Canada now owns 1,548 shares of the financial services provider’s stock valued at $36,000 after buying an additional 1,049 shares during the period. BNP Paribas Financial Markets increased its stake in shares of Ames National by 148.3% during the third quarter. BNP Paribas Financial Markets now owns 2,175 shares of the financial services provider’s stock valued at $44,000 after buying an additional 1,299 shares during the period. Deutsche Bank AG increased its stake in shares of Ames National by 42.3% during the fourth quarter. Deutsche Bank AG now owns 6,348 shares of the financial services provider’s stock valued at $146,000 after buying an additional 1,886 shares during the period. Finally, Larry Mathis Financial Planning LLC bought a new position in shares of Ames National during the first quarter valued at approximately $238,000. 26.47% of the stock is owned by hedge funds and other 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.