Ames National (NASDAQ:ATLO) Share Price Crosses Above Fifty Day Moving Average – Should You Sell?

Ames National Corporation (NASDAQ:ATLO)’s stock price crossed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $29.21 and traded as high as $29.66. Ames National shares last traded at $29.52, with a volume of 27,237 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Zacks Research upgraded shares of Ames National to a “hold” rating in a report on Thursday, April 16th. Weiss Ratings reissued a “buy (b)” rating on shares of Ames National in a report on Tuesday, June 9th. National Bank Financial set a $31.00 price target on Ames National in a research note on Wednesday, April 15th. Finally, Brean Capital upgraded shares of Ames National to a “hold” rating in a research report on Wednesday, April 15th. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, Ames National has an average rating of “Hold” and a consensus target price of $31.00.

Ames National Stock Up 0.8%

The firm has a market cap of $261.46 million, a PE ratio of 12.20 and a beta of 0.30. The business has a 50 day simple moving average of $29.21 and a two-hundred day simple moving average of $27.53.

Ames National (NASDAQ:ATLO) last issued its earnings results on Friday, April 24th. The financial services provider reported $0.67 earnings per share for the quarter. The business had revenue of $18.22 million during the quarter. Ames National had a return on equity of 10.65% and a net margin of 21.63%. Equities analysts forecast that Ames National Corporation will post 2.7 earnings per share for the current year.

Ames National Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 1st were given a dividend of $0.24 per share. The ex-dividend date of this dividend was Monday, June 1st. This represents a $0.96 dividend on an annualized basis and a yield of 3.3%. Ames National’s dividend payout ratio is presently 39.67%.

Institutional Investors Weigh In On Ames National

Several institutional investors and hedge funds have recently made changes to their positions in ATLO. Russell Investments Group Ltd. lifted its position in Ames National by 67.6% during the 2nd quarter. Russell Investments Group Ltd. now owns 1,379 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 556 shares during the period. Royal Bank of Canada grew its stake in shares of Ames National by 210.2% during the 4th quarter. Royal Bank of Canada now owns 1,548 shares of the financial services provider’s stock worth $36,000 after purchasing an additional 1,049 shares during the period. BNP Paribas Financial Markets grew its position in Ames National by 148.3% during the third quarter. BNP Paribas Financial Markets now owns 2,175 shares of the financial services provider’s stock valued at $44,000 after buying an additional 1,299 shares during the period. Deutsche Bank AG grew its position in shares of Ames National by 42.3% during the 4th quarter. Deutsche Bank AG now owns 6,348 shares of the financial services provider’s stock valued at $146,000 after acquiring an additional 1,886 shares during the period. Finally, Larry Mathis Financial Planning LLC acquired a new stake in Ames National in the first quarter valued at approximately $238,000. 26.47% of the stock is currently 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.