Ames National Corp Acquires 37,500 Shares of Ames National Corporation $ATLO

Key Points

• Ames National Corp boosted its stake in Ames National Corporation (NASDAQ:ATLO) by 72.7% in Q3, purchasing an additional 37,500 shares to hold 89,057 shares valued at about $1.80 million.
• Ames National raised its quarterly dividend to $0.24 (from $0.20), with an ex-dividend date of Feb. 27 and payable Mar. 13, implying a $0.96 annualized payout and roughly a 3.5% yield (DPR ~44.9%).
• ATLO shares trade near $27.29 (12‑month range $16.09–$28.35) with a market cap of ~$242.6M and a P/E of 12.75; the firm reported $0.73 EPS for the quarter and the consensus analyst rating is Buy.

Ames National Corp grew its holdings in Ames National Corporation (NASDAQ:ATLO - Free Report) by 72.7% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 89,057 shares of the financial services provider's stock after purchasing an additional 37,500 shares during the quarter. Ames National comprises about 1.1% of Ames National Corp's investment portfolio, making the stock its 21st largest position. Ames National Corp owned 1.00% of Ames National worth $1,801,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ATLO. Russell Investments Group Ltd. raised its position in Ames National by 67.6% in the 2nd quarter. Russell Investments Group Ltd. now owns 1,379 shares of the financial services provider's stock worth $25,000 after purchasing an additional 556 shares during the last quarter. CWM LLC increased its stake 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. First Trust Advisors LP bought a new stake in shares of Ames National during the second quarter worth $187,000. Carl P. Sherr & Co. LLC acquired a new position in shares of Ames National during the third quarter valued at $202,000. Finally, JPMorgan Chase & Co. lifted its stake in shares of Ames National by 39.9% during the third quarter. JPMorgan Chase & Co. now owns 11,420 shares of the financial services provider's stock valued at $231,000 after acquiring an additional 3,257 shares during the period. 26.47% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Weiss Ratings restated a "buy (b-)" rating on shares of Ames National in a research report on Monday, December 29th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat, Ames National presently has a consensus rating of "Buy".

Ames National Stock Up 1.2%

Shares of NASDAQ ATLO opened at $27.29 on Thursday. Ames National Corporation has a twelve month low of $16.09 and a twelve month high of $28.35. The stock has a market cap of $242.61 million, a price-to-earnings ratio of 12.75 and a beta of 0.39. The company's fifty day moving average is $25.47 and its 200-day moving average is $22.53.

Ames National (NASDAQ:ATLO - Get Free Report) last posted its earnings results on Friday, January 23rd. The financial services provider reported $0.73 earnings per share for the quarter. Ames National had a return on equity of 9.90% and a net margin of 19.36%.The firm had revenue of $15.34 million for the quarter.

Ames National Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 13th. Stockholders of record on Friday, February 27th will be issued a dividend of $0.24 per share. This is a boost from Ames National's previous quarterly dividend of $0.20. The ex-dividend date is Friday, February 27th. This represents a $0.96 annualized dividend and a dividend yield of 3.5%. Ames National's dividend payout ratio (DPR) is presently 44.86%.

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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