Ames National Corp Acquires New Holdings in Ames National Corporation $ATLO

Key Points

• Ames National Corp acquired 46,557 shares of Ames National Corporation in the second quarter, valued at approximately $1.33 million and representing about 0.53% of ATLO’s outstanding shares. Institutional investors collectively own 26.47% of the stock.
• ATLO recently traded at $31.85, near its 52-week high of $32.30, with a market capitalization of $282.2 million and a P/E ratio of 12.34. The company reported quarterly EPS of $0.67 on revenue of $19.08 million.
• Ames National declared a quarterly dividend of $0.24 per share, equivalent to $0.96 annually and a 3.0% yield. Analysts have an overall “Hold” rating with a $31 average price target, while one analyst rates the stock a Buy.

Ames National Corp bought a new position in Ames National Corporation (NASDAQ:ATLO - Free Report) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 46,557 shares of the financial services provider's stock, valued at approximately $1,332,000. Ames National accounts for 0.7% of Ames National Corp's investment portfolio, making the stock its 22nd largest holding. Ames National Corp owned about 0.53% of Ames National at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ATLO. Geode Capital Management LLC increased its holdings in Ames National by 2.5% during the 2nd quarter. Geode Capital Management LLC now owns 215,104 shares of the financial services provider's stock worth $3,831,000 after purchasing an additional 5,201 shares in the last quarter. Russell Investments Group Ltd. increased its stake 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 valued at $25,000 after buying an additional 556 shares during the last quarter. First Trust Advisors LP acquired a new stake in Ames National in the 2nd quarter valued at $187,000. NewEdge Advisors LLC bought a new stake in Ames National during the 2nd quarter worth about $367,000. Finally, Jane Street Group LLC bought a new stake in Ames National during the 2nd quarter worth about $255,000. 26.47% of the stock is owned by institutional investors.

Ames National Price Performance

NASDAQ:ATLO opened at $31.85 on Tuesday. The company has a market cap of $282.19 million, a P/E ratio of 12.34 and a beta of 0.30. The firm's fifty day moving average price is $30.36 and its two-hundred day moving average price is $28.90. Ames National Corporation has a one year low of $19.56 and a one year high of $32.30.

Ames National (NASDAQ:ATLO - Get Free Report) last announced its earnings results on Friday, July 17th. The financial services provider reported $0.67 EPS for the quarter. The business had revenue of $19.08 million during the quarter. Ames National had a net margin of 22.64% and a return on equity of 11.08%. As a group, equities research analysts expect that Ames National Corporation will post 2.72 earnings per share for the current year.

Ames National Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be given a dividend of $0.24 per share. The ex-dividend date is Tuesday, September 1st. This represents a $0.96 annualized dividend and a yield of 3.0%. Ames National's dividend payout ratio (DPR) is presently 37.21%.

Analyst Ratings Changes

Separately, Weiss Ratings restated 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 assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $31.00.

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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