Ames National (NASDAQ:ATLO) Announces Earnings Results

Key Points

• Ames National beat quarterly expectations, reporting EPS of $0.67 versus the $0.62 consensus and revenue of $18.22 million, slightly above estimates.
• The company raised its quarterly dividend to $0.24 per share from $0.20, implying a 3.4% annualized yield.
• Analysts currently have a Hold outlook on ATLO, with a consensus price target of $31.00.

Ames National (NASDAQ:ATLO - Get Free Report) issued its quarterly earnings results on Thursday. The financial services provider reported $0.67 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.62 by $0.05, FiscalAI reports. The company had revenue of $18.22 million for the quarter, compared to the consensus estimate of $18.10 million. Ames National had a return on equity of 9.70% and a net margin of 19.36%.

Ames National Stock Up 0.0%

Shares of Ames National stock traded up $0.01 during mid-day trading on Friday, reaching $28.61. 84,349 shares of the stock traded hands, compared to its average volume of 68,132. The business has a 50-day moving average of $27.84 and a 200 day moving average of $24.98. Ames National has a fifty-two week low of $16.94 and a fifty-two week high of $29.71. The stock has a market capitalization of $253.48 million, a PE ratio of 13.36 and a beta of 0.30.

Ames National Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 13th. Shareholders of record on Friday, February 27th were issued a dividend of $0.24 per share. The ex-dividend date of this dividend was Friday, February 27th. This is an increase from Ames National's previous quarterly dividend of $0.20. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.4%. Ames National's payout ratio is currently 44.86%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on ATLO shares. Zacks Research upgraded Ames National to a "hold" rating in a research report on Thursday, April 16th. Brean Capital upgraded Ames National to a "hold" rating in a research report on Wednesday, April 15th. Finally, National Bank Financial set a $31.00 price target on Ames National in a research report on Wednesday, April 15th. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat.com, Ames National currently has a consensus rating of "Hold" and a consensus target price of $31.00.

Hedge Funds Weigh In On Ames National

A number of hedge funds have recently made changes to their positions in ATLO. Russell Investments Group Ltd. increased its holdings in shares of Ames National by 67.6% in the second quarter. Russell Investments Group Ltd. now owns 1,379 shares of the financial services provider's stock valued at $25,000 after purchasing an additional 556 shares during the last quarter. Royal Bank of Canada increased its holdings in shares of Ames National by 210.2% in the fourth quarter. Royal Bank of Canada now owns 1,548 shares of the financial services provider's stock valued at $36,000 after purchasing an additional 1,049 shares during the last quarter. BNP Paribas Financial Markets increased its holdings in shares of Ames National by 148.3% in the third 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 last quarter. Deutsche Bank AG increased its holdings in shares of Ames National by 42.3% in the fourth quarter. Deutsche Bank AG now owns 6,348 shares of the financial services provider's stock valued at $146,000 after purchasing an additional 1,886 shares during the last quarter. Finally, First Trust Advisors LP acquired a new stake in shares of Ames National in the second quarter valued at approximately $187,000. Institutional investors and hedge funds own 26.47% of the company's stock.

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.

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