Ames National (NASDAQ:ATLO) Stock Moved Up to “Strong-Buy” by Zacks Research

Zacks Research upgraded shares of Ames National (NASDAQ:ATLO) from a hold rating to a strong-buy rating in a report published on Wednesday,Zacks reports.

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

Ames National Stock Up 4.2%

Shares of ATLO opened at $34.04 on Wednesday. The business has a 50-day simple moving average of $31.98 and a two-hundred day simple moving average of $30.29. The stock has a market cap of $301.59 million, a price-to-earnings ratio of 11.86 and a beta of 0.31. Ames National has a 52 week low of $20.51 and a 52 week high of $34.04.

Ames National (NASDAQ:ATLO) last posted its quarterly earnings data on Friday, October 16th. The financial services provider reported $0.80 EPS for the quarter, topping the consensus estimate of $0.68 by $0.12. Ames National had a return on equity of 12.15% and a net margin of 24.44%. The firm had revenue of $20.42 million for the quarter, compared to the consensus estimate of $19.30 million. On average, equities analysts anticipate that Ames National will post 2.81 earnings per share for the current fiscal year.

Ames National Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st were paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend was Tuesday, September 1st. Ames National’s dividend payout ratio (DPR) is presently 33.45%.

Institutional Trading of Ames National

Several hedge funds have recently bought and sold shares of ATLO. Pinnacle Associates Ltd. bought a new position in Ames National during the third quarter valued at approximately $232,000. Empowered Funds LLC purchased a new position in Ames National during the 2nd quarter valued at approximately $358,000. Bank of America Corp DE purchased a new position in Ames National during the 2nd quarter valued at approximately $279,000. Ames National Corp bought a new stake in Ames National in the 2nd quarter worth approximately $1,332,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in Ames National in the 2nd quarter worth approximately $1,275,000. Hedge funds and other institutional investors own 26.47% of the company’s stock.

Ames National Company Profile

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.