Ames National (NASDAQ:ATLO) Stock Price Crosses Above 200 Day Moving Average – Here’s What Happened

Ames National Corporation (NASDAQ:ATLO) shares passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $29.28 and traded as high as $32.49. Ames National shares last traded at $32.34, with a volume of 40,885 shares trading hands.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “buy (b)” rating on shares of Ames National in a research report on Friday, September 4th. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $31.00.

Ames National Stock Performance

The company has a market capitalization of $287.76 million, a PE ratio of 12.59 and a beta of 0.31. The stock’s 50 day moving average is $30.90 and its 200 day moving average is $29.30.

Ames National (NASDAQ:ATLO) last announced its quarterly earnings results 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 company had revenue of $19.08 million during the quarter. On average, equities research analysts forecast that Ames National Corporation will post 2.72 EPS for the current fiscal year.

Ames National Dividend Announcement

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

Institutional Trading of Ames National

Several institutional investors and hedge funds have recently bought and sold shares of the company. California State Teachers Retirement System boosted its holdings in Ames National by 663.4% in the 2nd quarter. California State Teachers Retirement System now owns 3,672 shares of the financial services provider’s stock valued at $109,000 after purchasing an additional 3,191 shares during the period. Empowered Funds LLC bought a new position in shares of Ames National in the second quarter worth $358,000. Bank of America Corp DE bought a new position in shares of Ames National in the second quarter worth $279,000. Ames National Corp purchased a new stake in shares of Ames National in the second quarter worth $1,332,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Ames National in the second quarter worth $1,275,000. 26.47% of the stock is currently owned by hedge funds and other institutional investors.

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.