Ames National (NASDAQ:ATLO) Posts Earnings Results

Key Points

• Ames National reported a quarterly earnings per share (EPS) of $0.51, with a net margin of 12.10% and a return on equity of 6.41%.
• The company’s stock price rose 0.2% to $18.56, with a market capitalization of $165.56 million.
• Geode Capital Management LLC increased its stake in Ames National by 2.5% in the second quarter, now owning 2.41% of the company.

Ames National (NASDAQ:ATLO - Get Free Report) announced its earnings results on Friday. The financial services provider reported $0.51 earnings per share for the quarter, Zacks reports. Ames National had a net margin of 14.44% and a return on equity of 7.46%. The business had revenue of $16.11 million during the quarter.

Ames National Price Performance

NASDAQ ATLO traded up $0.08 during mid-day trading on Wednesday, reaching $19.27. 484 shares of the stock were exchanged, compared to its average volume of 14,524. Ames National has a one year low of $15.69 and a one year high of $19.64. The stock has a 50 day simple moving average of $18.06 and a 200-day simple moving average of $17.84. The stock has a market cap of $171.50 million, a P/E ratio of 12.51 and a beta of 0.50.

Hedge Funds Weigh In On Ames National

A hedge fund recently raised its stake in Ames National stock. Russell Investments Group Ltd. boosted its stake in Ames National Corporation (NASDAQ:ATLO - Free Report) by 67.6% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,379 shares of the financial services provider's stock after purchasing an additional 556 shares during the quarter. Russell Investments Group Ltd.'s holdings in Ames National were worth $25,000 as of its most recent SEC filing. 26.47% of the stock is owned by institutional investors.

About Ames National

Ames National Corporation operates as a multi-bank holding company that provides banking products and services primarily in Boone, Clarke, Hancock, Marshall, Polk, Story, and Union counties in central, north central, and south-central Iowa. The company accepts various deposit products, including checking and savings accounts; and time deposits, such as money market accounts and certificates of deposit.