Ames National (NASDAQ:ATLO) Share Price Crosses Above Fifty Day Moving Average - Should You Sell?

Key Points

• Ames National’s stock moved above its 50-day moving average, trading as high as $29.66 and last changing hands at $29.52, up about 0.8% on the day.
• Analyst sentiment is mixed but generally cautious: the stock has an average Hold rating and a $31.00 target price, with one Buy and two Hold ratings reported.
• The bank posted solid recent results, including Q1 earnings of $0.67 per share, and continues to pay a quarterly dividend of $0.24 per share, yielding about 3.3% annually.

Ames National Corporation (NASDAQ:ATLO - Get Free Report)'s share price passed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $29.21 and traded as high as $29.66. Ames National shares last traded at $29.52, with a volume of 27,237 shares.

Wall Street Analysts Forecast Growth

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

Ames National Trading Up 0.8%

The company has a market cap of $261.46 million, a price-to-earnings ratio of 12.20 and a beta of 0.30. The firm's 50-day moving average price is $29.21 and its 200 day moving average price is $27.53.

Ames National (NASDAQ:ATLO - Get Free Report) last posted its quarterly earnings results on Friday, April 24th. The financial services provider reported $0.67 earnings per share for the quarter. Ames National had a return on equity of 10.65% and a net margin of 21.63%.The business had revenue of $18.22 million for the quarter. Analysts forecast that Ames National Corporation will post 2.7 earnings per share for the current fiscal year.

Ames National Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were given a dividend of $0.24 per share. The ex-dividend date of this dividend was Monday, June 1st. This represents a $0.96 annualized dividend and a dividend yield of 3.3%. Ames National's dividend payout ratio (DPR) is currently 39.67%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. First Trust Advisors LP increased its stake in shares of Ames National by 62.8% in the first quarter. First Trust Advisors LP now owns 29,683 shares of the financial services provider's stock worth $838,000 after buying an additional 11,445 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Ames National by 2.7% in the first quarter. Dimensional Fund Advisors LP now owns 273,040 shares of the financial services provider's stock worth $7,705,000 after buying an additional 7,120 shares during the period. Royal Bank of Canada lifted its stake in shares of Ames National by 210.2% in the 4th 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 period. Deutsche Bank AG lifted its position in 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, BNP Paribas Financial Markets lifted its position in Ames National by 148.3% during the 3rd quarter. BNP Paribas Financial Markets now owns 2,175 shares of the financial services provider's stock valued at $44,000 after acquiring an additional 1,299 shares during the period. 26.47% of the stock is currently owned by hedge funds and other institutional investors.

Ames National Company Profile

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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