Ames National (NASDAQ:ATLO) Shares Pass Below 200-Day Moving Average of $19.70

Ames National Co. (NASDAQ:ATLO)’s share price passed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $19.70 and traded as low as $18.00. Ames National shares last traded at $18.16, with a volume of 10,420 shares.

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of Ames National from a “sell” rating to a “hold” rating in a research report on Thursday, June 27th.

Ames National Stock Performance

The stock has a market cap of $162.63 million, a PE ratio of 16.30 and a beta of 0.56. The business has a 50-day moving average of $19.50 and a 200 day moving average of $19.70.

Ames National (NASDAQ:ATLO) last released its earnings results on Friday, August 9th. The financial services provider reported $0.24 EPS for the quarter. Ames National had a net margin of 10.77% and a return on equity of 5.92%. The firm had revenue of $13.49 million during the quarter.

Ames National Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 1st will be issued a dividend of $0.20 per share. The ex-dividend date is Friday, November 1st. This represents a $0.80 annualized dividend and a dividend yield of 4.42%. Ames National’s payout ratio is currently 72.07%.

Institutional Trading of Ames National

A number of institutional investors have recently modified their holdings of the company. CWM LLC raised its stake in shares of Ames National by 2,044.0% during the fourth quarter. CWM LLC now owns 1,608 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 1,533 shares during the period. Bank of New York Mellon Corp increased its stake in Ames National by 4.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 37,235 shares of the financial services provider’s stock worth $763,000 after buying an additional 1,737 shares during the period. BNP Paribas Financial Markets lifted its holdings in Ames National by 75.7% in the 1st quarter. BNP Paribas Financial Markets now owns 4,251 shares of the financial services provider’s stock worth $86,000 after buying an additional 1,832 shares in the last quarter. Vanguard Group Inc. boosted its position in Ames National by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 489,890 shares of the financial services provider’s stock valued at $9,886,000 after buying an additional 2,965 shares during the last quarter. Finally, Choreo LLC purchased a new position in Ames National in the 2nd quarter valued at about $807,000. Hedge funds and other institutional investors own 26.47% of the company’s stock.

About Ames National

Ames National Corporation operates as a multi-bank holding company that provides banking products and services primarily in Boone, Clarke, Hancock, Marshall, Polk, Story, and Union counties in central, north central, and south-central Iowa. The company accepts various deposit products, including checking and savings accounts; and time deposits, such as money market accounts and certificates of deposit.