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

Key Points

• Ames National shares moved above their 50-day moving average, trading as high as $29.79 versus a 50-day average of $29.40. The stock was last quoted at $29.79 on volume of 43,077 shares.
• Analyst sentiment is mixed but leaning neutral, with one Buy rating and two Hold ratings. The consensus target price is $31.00, and the stock currently carries an average rating of “Hold.”
• The company reported solid recent results and maintains a dividend, posting $0.67 EPS on $19.08 million in quarterly revenue and a 3.2% dividend yield from its $0.24 quarterly payout. Institutional investors also own 26.47% of the stock, with some firms increasing positions recently.

Ames National Corporation (NASDAQ:ATLO - Get Free Report)'s share price passed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $29.40 and traded as high as $29.79. Ames National shares last traded at $29.79, with a volume of 43,077 shares trading hands.

Analyst Upgrades and Downgrades

ATLO has been the topic of several research reports. Brean Capital upgraded Ames National to a "hold" rating in a report on Wednesday, April 15th. Zacks Research upgraded shares of Ames National to a "hold" rating in a report on Thursday, April 16th. National Bank Financial set a $31.00 target price on shares of Ames National in a research report on Wednesday, April 15th. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of Ames National in a report on Tuesday, June 9th. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, Ames National presently has an average rating of "Hold" and a consensus target price of $31.00.

Ames National Price Performance

The company has a fifty day moving average of $29.40 and a 200 day moving average of $27.82. The firm has a market capitalization of $263.94 million, a P/E ratio of 12.31 and a beta of 0.30.

Ames National (NASDAQ:ATLO - Get Free Report) last released its quarterly earnings results on Friday, July 17th. The financial services provider reported $0.67 earnings per share (EPS) for the quarter. Ames National had a net margin of 21.63% and a return on equity of 10.65%. The firm had revenue of $19.08 million during the quarter. On average, sell-side analysts forecast that Ames National Corporation will post 2.7 EPS for the current year.

Ames National Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 1st were given a $0.24 dividend. The ex-dividend date of this dividend was Monday, June 1st. This represents a $0.96 annualized dividend and a dividend yield of 3.2%. Ames National's dividend payout ratio (DPR) is 39.67%.

Institutional Investors Weigh In On Ames National

Institutional investors and hedge funds have recently made changes to their positions in the business. Fourthstone LLC raised its holdings in shares of Ames National by 94.9% during the fourth quarter. Fourthstone LLC now owns 438,696 shares of the financial services provider's stock valued at $10,072,000 after purchasing an additional 213,597 shares during the period. Segall Bryant & Hamill LLC acquired a new position in Ames National during the 4th quarter worth approximately $907,000. O Shaughnessy Asset Management LLC acquired a new position in Ames National during the 4th quarter worth approximately $596,000. Arkadios Wealth Advisors bought a new position in Ames National in the fourth quarter worth approximately $507,000. Finally, NewEdge Advisors LLC bought a new position in Ames National in the second quarter worth approximately $367,000. Institutional investors 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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