Ames National (NASDAQ:ATLO) Releases Quarterly Earnings Results, Beats Expectations By $0.05 EPS

Ames National (NASDAQ:ATLO) issued its earnings results 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 return on equity of 9.70% and a net margin of 19.36%.The company had revenue of $18.22 million during the quarter, compared to the consensus estimate of $18.10 million.

Ames National Stock Performance

Shares of NASDAQ:ATLO traded up $0.01 during 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. Ames National has a fifty-two week low of $16.94 and a fifty-two week high of $29.71. The stock’s 50-day moving average price is $27.84 and its two-hundred day moving average price is $24.98. The company has a market capitalization of $253.48 million, a PE ratio of 13.37 and a beta of 0.30.

Ames National Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 13th. Investors of record on Friday, February 27th were paid a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend 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 payout ratio is presently 44.86%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Zacks Research upgraded Ames National to a “hold” rating in a research note on Thursday, April 16th. Brean Capital upgraded Ames National to a “hold” rating in a research note on Wednesday, April 15th. Finally, National Bank Financial set a $31.00 price target on Ames National in a research note on Wednesday, April 15th. One 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 currently has an average rating of “Hold” and a consensus price target of $31.00.

Institutional Trading of Ames National

Several institutional investors and hedge funds have recently bought and sold shares of ATLO. Geode Capital Management LLC raised its stake in 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 buying an additional 5,201 shares in the last quarter. Russell Investments Group Ltd. raised its stake in Ames National by 67.6% during the second quarter. Russell Investments Group Ltd. now owns 1,379 shares of the financial services provider’s stock valued at $25,000 after buying an additional 556 shares in the last quarter. First Trust Advisors LP acquired a new stake in Ames National during the second quarter valued at approximately $187,000. NewEdge Advisors LLC acquired a new stake in Ames National during the second quarter valued at approximately $367,000. Finally, Jane Street Group LLC acquired a new stake in Ames National during the second quarter valued at approximately $255,000. Institutional investors and hedge funds own 26.47% of the company’s stock.

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.