Ames National (NASDAQ:ATLO) Stock Lifted to Strong-Buy by Zacks Research

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

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

Ames National Stock Up 4.2%

Shares of ATLO opened at $34.04 on Wednesday. The business’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 cap of $301.59 million, a price-to-earnings ratio of 11.86 and a beta of 0.31.

Ames National (NASDAQ:ATLO) last released its earnings results on Friday, October 16th. The financial services provider reported $0.80 EPS for the quarter, beating the consensus estimate of $0.68 by $0.12. The company had revenue of $20.42 million during 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%. On average, equities analysts expect that Ames National will post 2.81 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Ames National

Hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. acquired a new position in Ames National during the 2nd quarter valued at approximately $20,228,000. Bank of New York Mellon Corp acquired a new stake in Ames National in the second quarter worth $908,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Ames National in the second quarter worth $1,275,000. Ames National Corp acquired a new stake in Ames National in the second quarter worth $1,332,000. Finally, Northwestern Mutual Wealth Management Co. bought a new stake in Ames National in the second quarter valued at $907,000. 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.