Ames National (NASDAQ:ATLO) Upgraded at Zacks Research

Zacks Research upgraded shares of Ames National (NASDAQ:ATLO) to a hold rating in a research note released on Thursday,Zacks.com reports.

Other analysts also recently issued reports about the stock. Brean Capital raised shares of Ames National to a “hold” rating in a research note on Wednesday. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Ames National in a research note on Monday, December 29th. Finally, National Bank Financial set a $31.00 price objective on shares of Ames National in a report on Wednesday. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $31.00.

Ames National Stock Performance

NASDAQ ATLO opened at $28.66 on Thursday. The stock has a market capitalization of $253.93 million, a P/E ratio of 13.39 and a beta of 0.33. Ames National has a 1 year low of $16.52 and a 1 year high of $29.71. The business’s fifty day moving average is $27.68 and its two-hundred day moving average is $24.25.

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

Ames National Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 13th. Investors of record on Friday, February 27th were paid a $0.24 dividend. The ex-dividend date was Friday, February 27th. This is a boost from Ames National’s previous quarterly dividend of $0.20. This represents a $0.96 annualized dividend and a dividend yield of 3.3%. Ames National’s dividend payout ratio is 44.86%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in ATLO. Russell Investments Group Ltd. raised its position in 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 purchasing an additional 556 shares in the last quarter. Royal Bank of Canada increased 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 valued at $36,000 after purchasing an additional 1,049 shares in the last quarter. CWM LLC grew its holdings in Ames National by 150.5% during the 3rd quarter. CWM LLC now owns 1,836 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 1,103 shares during the period. BNP Paribas Financial Markets grew its holdings in Ames National by 148.3% during the 3rd quarter. BNP Paribas Financial Markets now owns 2,175 shares of the financial services provider’s stock worth $44,000 after acquiring an additional 1,299 shares during the period. Finally, Deutsche Bank AG boosted its position in shares of Ames National by 42.3% during the fourth quarter. Deutsche Bank AG now owns 6,348 shares of the financial services provider’s stock worth $146,000 after purchasing an additional 1,886 shares in the last quarter. 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.