Ames National (NASDAQ:ATLO) Releases Quarterly Earnings Results, Beats Estimates By $0.12 EPS

Ames National (NASDAQ:ATLO) announced its quarterly earnings results on Friday. The financial services provider reported $0.80 EPS for the quarter, beating the consensus estimate of $0.68 by $0.12, FiscalAI reports. The business had revenue of $20.42 million for the quarter, compared to analyst estimates of $19.30 million. Ames National had a return on equity of 11.08% and a net margin of 22.64%.

Ames National Price Performance

Shares of ATLO stock traded up $0.02 on Friday, hitting $32.17. 10,621 shares of the stock traded hands, compared to its average volume of 49,378. The company’s fifty day moving average is $31.85 and its 200 day moving average is $30.14. The company has a market capitalization of $285.03 million, a PE ratio of 12.47 and a beta of 0.31. Ames National has a 1-year low of $19.56 and a 1-year high of $32.86.

Ames National Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st were issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend was Tuesday, September 1st. Ames National’s payout ratio is currently 37.21%.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “buy (b)” rating on shares of Ames National in a report on Friday, September 4th. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $31.00.

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.