Northwestern Mutual Wealth Management Co. Purchases Shares of 30,640 Ames National Corporation $ATLO

Northwestern Mutual Wealth Management Co. purchased a new position in shares of Ames National Corporation (NASDAQ:ATLO) during the 2nd quarter, Holdings Channel.com reports. The fund purchased 30,640 shares of the financial services provider’s stock, valued at approximately $907,000.

A number of other hedge funds have also recently made changes to their positions in the business. BlackRock Inc. bought a new stake in shares of Ames National in the 2nd quarter worth approximately $20,228,000. Deutsche Bank AG bought a new position in shares of Ames National during the 2nd quarter valued at $259,000. Bank of New York Mellon Corp bought a new position in shares of Ames National during the 2nd quarter valued at $908,000. Empowered Funds LLC raised its position in Ames National by 6.7% in the 1st quarter. Empowered Funds LLC now owns 11,353 shares of the financial services provider’s stock worth $320,000 after purchasing an additional 714 shares during the period. Finally, Arrowstreet Capital Limited Partnership raised its position in Ames National by 1.6% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 100,392 shares of the financial services provider’s stock worth $2,833,000 after purchasing an additional 1,629 shares during the period. 26.47% of the stock is currently owned by institutional investors.

Ames National Price Performance

Shares of ATLO stock opened at $31.81 on Wednesday. The business has a 50-day moving average of $30.40 and a 200 day moving average of $28.93. Ames National Corporation has a 1-year low of $19.56 and a 1-year high of $32.30. The stock has a market capitalization of $281.84 million, a PE ratio of 12.33 and a beta of 0.30.

Ames National (NASDAQ:ATLO) last announced its quarterly earnings results on Friday, July 17th. The financial services provider reported $0.67 EPS for the quarter. Ames National had a return on equity of 11.08% and a net margin of 22.64%.The business had revenue of $19.08 million for the quarter. Analysts anticipate that Ames National Corporation will post 2.72 EPS for the current year.

Ames National Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be issued a $0.24 dividend. The ex-dividend date is Tuesday, September 1st. This represents a $0.96 annualized dividend and a dividend yield of 3.0%. Ames National’s dividend payout ratio (DPR) is currently 37.21%.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “buy (b)” rating on shares of Ames National in a research note on Tuesday, June 9th. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $31.00.

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.