Ames National (NASDAQ:ATLO) Stock Rating Upgraded by Zacks Research

Key Points

• Zacks Research upgraded Ames National (NASDAQ:ATLO) to a "hold"; the consensus among analysts is one Buy and two Holds with an average target price of $31.00.
• Shares opened at $28.66 and trade in a 12‑month range of $16.52–$29.71, with a market cap of about $253.9 million and a P/E of 13.39.
• In the most recent quarter Ames National reported $0.73 EPS (net margin 19.36%, ROE 9.70%) on $15.34 million revenue, and institutional ownership stands around 26.47% with several funds recently increasing positions.

Ames National (NASDAQ:ATLO - Get Free Report) was upgraded by equities researchers at Zacks Research to a "hold" rating in a research report issued to clients and investors on Thursday,Zacks.com reports.

ATLO has been the topic of several other research reports. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Ames National in a research note on Monday, December 29th. National Bank Financial set a $31.00 price objective on shares of Ames National in a report on Wednesday. Finally, Brean Capital raised shares of Ames National to a "hold" rating in a report on Wednesday. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat, Ames National currently has an average rating of "Hold" and an average target price of $31.00.

Ames National Price Performance

Ames National stock opened at $28.66 on Thursday. Ames National has a 12-month low of $16.52 and a 12-month high of $29.71. The company has a market capitalization of $253.93 million, a price-to-earnings ratio of 13.39 and a beta of 0.33. The firm's fifty day moving average price is $27.68 and its 200 day moving average price is $24.22.

Ames National (NASDAQ:ATLO - Get Free Report) last released its quarterly earnings results on Friday, January 23rd. The financial services provider reported $0.73 earnings per share (EPS) for the quarter. Ames National had a net margin of 19.36% and a return on equity of 9.70%. The firm had revenue of $15.34 million for the quarter.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Ames National Corp boosted its holdings in shares of Ames National by 72.7% in the 3rd quarter. Ames National Corp now owns 89,057 shares of the financial services provider's stock valued at $1,801,000 after buying an additional 37,500 shares during the period. CWM LLC boosted its holdings in shares of Ames National by 150.5% in the 3rd quarter. CWM LLC now owns 1,836 shares of the financial services provider's stock valued at $37,000 after buying an additional 1,103 shares during the period. O Shaughnessy Asset Management LLC acquired a new position in shares of Ames National in the 4th quarter valued at about $596,000. Arkadios Wealth Advisors acquired a new position in shares of Ames National in the 4th quarter valued at about $507,000. Finally, First Trust Advisors LP boosted its stake in Ames National by 43.5% during the 4th quarter. First Trust Advisors LP now owns 18,238 shares of the financial services provider's stock valued at $419,000 after purchasing an additional 5,530 shares during the period. 26.47% of the stock is owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.