Ames National (NASDAQ:ATLO) Raised to “Hold” at Brean Capital

Ames National (NASDAQ:ATLO) was upgraded by analysts at Brean Capital to a “hold” rating in a research report issued to clients and investors on Wednesday,Zacks.com reports.

Several other equities research analysts have also recently issued reports on the company. National Bank Financial set a $31.00 target price on Ames National in a report on Wednesday. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Ames National in a report on Monday, December 29th. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, Ames National currently has an average rating of “Moderate Buy” and a consensus price target of $31.00.

Ames National Stock Down 0.8%

NASDAQ:ATLO opened at $28.35 on Wednesday. Ames National has a 52 week low of $16.52 and a 52 week high of $29.71. The business’s 50-day simple moving average is $27.66 and its two-hundred day simple moving average is $24.16. The stock has a market cap of $251.18 million, a PE ratio of 13.25 and a beta of 0.33.

Ames National (NASDAQ:ATLO) last issued its earnings results on Friday, January 23rd. The financial services provider reported $0.73 earnings per share (EPS) for the quarter. Ames National had a return on equity of 9.70% and a net margin of 19.36%.The firm had revenue of $15.34 million for the quarter.

Institutional Investors Weigh In On Ames National

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ATLO. Geode Capital Management LLC raised its position 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 purchasing an additional 5,201 shares during the period. Russell Investments Group Ltd. raised its position 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 purchasing an additional 556 shares during the period. First Trust Advisors LP purchased a new stake in Ames National during the second quarter valued at approximately $187,000. NewEdge Advisors LLC purchased a new stake in Ames National during the second quarter valued at approximately $367,000. Finally, Jane Street Group LLC purchased a new stake in Ames National during the second quarter valued at approximately $255,000. 26.47% of the stock is currently owned by hedge funds and other institutional investors.

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.