BlackRock Inc. Invests $20.23 Million in Ames National Corporation $ATLO

BlackRock Inc. bought a new stake in Ames National Corporation (NASDAQ:ATLO) in the second quarter, HoldingsChannel.com reports. The institutional investor bought 683,151 shares of the financial services provider’s stock, valued at approximately $20,228,000. BlackRock Inc. owned about 0.08% of Ames National at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. grew its position in Ames National by 1.0% during the 3rd quarter. Vanguard Group Inc. now owns 508,760 shares of the financial services provider’s stock worth $10,287,000 after acquiring an additional 5,063 shares during the last quarter. Fourthstone LLC lifted its position in Ames National by 94.9% in the fourth quarter. Fourthstone LLC now owns 438,696 shares of the financial services provider’s stock valued at $10,072,000 after purchasing an additional 213,597 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Ames National by 2.7% during the first quarter. Dimensional Fund Advisors LP now owns 273,040 shares of the financial services provider’s stock valued at $7,705,000 after purchasing an additional 7,120 shares during the period. Geode Capital Management LLC boosted its stake in shares of Ames National by 2.5% during the second quarter. Geode Capital Management LLC now owns 215,104 shares of the financial services provider’s stock valued at $3,831,000 after purchasing an additional 5,201 shares during the period. Finally, State Street Corp grew its holdings in shares of Ames National by 5.3% in the fourth quarter. State Street Corp now owns 132,123 shares of the financial services provider’s stock worth $3,034,000 after purchasing an additional 6,648 shares during the last quarter. 26.47% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Ames National in a research note on Tuesday, June 9th. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, Ames National has an average rating of “Hold” and a consensus target price of $31.00.

Ames National Stock Performance

Shares of ATLO stock opened at $31.75 on Thursday. Ames National Corporation has a fifty-two week low of $19.56 and a fifty-two week high of $32.30. The firm has a market cap of $281.31 million, a P/E ratio of 12.31 and a beta of 0.31. The business’s 50 day moving average price is $30.58 and its 200-day moving average price is $29.09.

Ames National (NASDAQ:ATLO) last announced its earnings results on Friday, July 17th. The financial services provider reported $0.67 EPS 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. As a group, equities analysts predict that Ames National Corporation will post 2.72 EPS for the current year.

Ames National Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be issued a $0.24 dividend. 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 is 37.21%.

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.