Ames National (NASDAQ:ATLO) Share Price Crosses Above 200 Day Moving Average – Here’s Why

Ames National Corporation (NASDAQ:ATLO)’s share price crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $25.26 and traded as high as $28.20. Ames National shares last traded at $27.51, with a volume of 59,168 shares trading hands.

Analyst Ratings Changes

Several research firms recently issued reports on ATLO. Brean Capital raised shares of Ames National to a “hold” rating in a research report on Wednesday, April 15th. National Bank Financial set a $31.00 target price on Ames National in a report on Wednesday, April 15th. Finally, Zacks Research upgraded Ames National to a “hold” rating in a research report on Thursday, April 16th. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, Ames National currently has a consensus rating of “Hold” and an average price target of $31.00.

Ames National Price Performance

The company has a market cap of $243.74 million, a P/E ratio of 11.37 and a beta of 0.30. The business’s 50 day moving average price is $27.91 and its 200-day moving average price is $25.26.

Ames National (NASDAQ:ATLO) last released its quarterly earnings results on Friday, April 24th. The financial services provider reported $0.67 earnings per share for the quarter. The firm had revenue of $18.22 million during the quarter. Ames National had a return on equity of 10.65% and a net margin of 21.63%. As a group, research analysts forecast that Ames National Corporation will post 2.7 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Fourthstone LLC grew its holdings in Ames National by 94.9% during the 4th quarter. Fourthstone LLC now owns 438,696 shares of the financial services provider’s stock worth $10,072,000 after acquiring an additional 213,597 shares during the last quarter. Segall Bryant & Hamill LLC acquired a new stake in shares of Ames National in the fourth quarter valued at approximately $907,000. Ames National Corp lifted its holdings in Ames National by 72.7% during the 3rd quarter. Ames National Corp now owns 89,057 shares of the financial services provider’s stock worth $1,801,000 after buying an additional 37,500 shares in the last quarter. O Shaughnessy Asset Management LLC bought a new position in Ames National in the 4th quarter valued at $596,000. Finally, Arkadios Wealth Advisors acquired a new stake in shares of Ames National in the 4th quarter valued at $507,000. 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.