Ames National (NASDAQ:ATLO) Stock Breaks Above 50 Day Moving Average - Should You Sell?

Key Points

• Ames National shares crossed above their 50-day moving average, reaching $32.50 before last trading at $31.98; the stock is down 1.2% and has a market capitalization of approximately $283 million.
• Analyst sentiment is mixed, with one Buy rating and two Hold ratings. The consensus rating is Hold, with a target price of $31.00, below the latest share price.
• The company reported quarterly EPS of $0.67 and declared a $0.24 quarterly dividend, equivalent to a 3.0% yield and $0.96 annualized payout.

Ames National Corporation (NASDAQ:ATLO - Get Free Report)'s share price crossed above its fifty day moving average during trading on Monday. The stock has a fifty day moving average of $31.69 and traded as high as $32.50. Ames National shares last traded at $31.98, with a volume of 26,466 shares traded.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Ames National in a research note on Friday, September 4th. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $31.00.

Ames National Trading Down 1.2%

The company has a market capitalization of $283.34 million, a P/E ratio of 12.40 and a beta of 0.31. The stock has a 50 day moving average price of $31.69 and a 200 day moving average price of $29.87.

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

Ames National Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st were paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend was Tuesday, September 1st. Ames National's dividend payout ratio (DPR) is presently 37.21%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Empowered Funds LLC bought a new stake in Ames National during the 2nd quarter worth approximately $358,000. Bank of America Corp DE acquired a new stake in Ames National in the second quarter valued at $279,000. Ames National Corp bought a new position in Ames National during the 2nd quarter worth $1,332,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in Ames National during the 2nd quarter worth $1,275,000. Finally, Northwestern Mutual Wealth Management Co. bought a new position in Ames National during the 2nd quarter worth $907,000. Institutional investors and hedge funds own 26.47% of the company's stock.

About Ames National

Ames National Corporation is a bank holding company headquartered in Ames, Iowa. Through its subsidiary community banks, the company provides banking and financial services to individuals, families, farmers, and businesses across central Iowa.

Its banking activities include accepting deposits and providing commercial, agricultural, real estate, and consumer loans. The company's subsidiaries also offer services such as checking and savings accounts, online and mobile banking, cash management, wealth management, and trust-related services.

Ames National Corporation has a long history of community banking in Iowa, with its operations conducted through locally managed banking institutions serving communities in and around Ames and other central Iowa markets.

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