Ames National (NASDAQ:ATLO) Issues Quarterly Earnings Results

Ames National (NASDAQ:ATLO) posted its quarterly earnings data on Thursday. The financial services provider reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.05, FiscalAI reports. Ames National had a net margin of 19.36% and a return on equity of 9.70%. The business had revenue of $18.22 million during the quarter, compared to the consensus estimate of $18.10 million.

Ames National Stock Up 0.0%

Ames National stock traded up $0.01 during mid-day trading on Friday, hitting $28.61. The company’s stock had a trading volume of 84,349 shares, compared to its average volume of 68,132. The stock has a market capitalization of $253.48 million, a P/E ratio of 13.37 and a beta of 0.30. Ames National has a twelve month low of $16.94 and a twelve month high of $29.71. The stock’s fifty day moving average price is $27.84 and its two-hundred day moving average price is $24.98.

Ames National Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 13th. Shareholders of record on Friday, February 27th were given a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 3.4%. This is a positive change from Ames National’s previous quarterly dividend of $0.20. The ex-dividend date was Friday, February 27th. Ames National’s dividend payout ratio (DPR) is presently 44.86%.

Institutional Trading of Ames National

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Russell Investments Group Ltd. boosted its holdings in shares of Ames National by 67.6% in the second quarter. Russell Investments Group Ltd. now owns 1,379 shares of the financial services provider’s stock worth $25,000 after buying an additional 556 shares during the period. Royal Bank of Canada boosted its holdings in shares of Ames National by 210.2% in the fourth quarter. Royal Bank of Canada now owns 1,548 shares of the financial services provider’s stock worth $36,000 after buying an additional 1,049 shares during the period. BNP Paribas Financial Markets lifted its position in shares of Ames National by 148.3% in the 3rd quarter. BNP Paribas Financial Markets now owns 2,175 shares of the financial services provider’s stock valued at $44,000 after acquiring an additional 1,299 shares in the last quarter. Deutsche Bank AG lifted its position in shares of Ames National by 42.3% in 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 in the last quarter. Finally, Wells Fargo & Company MN boosted its stake in Ames National by 38.6% in the 4th quarter. Wells Fargo & Company MN now owns 9,978 shares of the financial services provider’s stock worth $229,000 after purchasing an additional 2,781 shares during the period. Institutional investors and hedge funds own 26.47% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. National Bank Financial set a $31.00 price objective on Ames National in a research note on Wednesday, April 15th. Brean Capital raised Ames National to a “hold” rating in a report on Wednesday, April 15th. Finally, Zacks Research upgraded shares of Ames National to a “hold” rating in a research report on Thursday, April 16th. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $31.00.

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.