Ames National Corporation (NASDAQ:ATLO) released its quarterly earnings results on December 15, 2023, revealing earnings of $0.73 per share. The financial services provider, based in Ames, Iowa, reported a net margin of 16.68% and a return on equity of 8.53%, reflecting a stable performance in a competitive market.
Following the announcement, Ames National’s stock experienced a slight decline of 0.8%, trading down $0.20 to hit $24.27. During Friday’s trading session, the company recorded a volume of 23,489 shares, just below its average volume of 25,173. The stock has a 50-day moving average price of $22.73 and a 200-day moving average price of $20.77. With a market capitalization of $215.76 million, Ames National has a price-to-earnings (P/E) ratio of 13.48 and a beta of 0.40. Over the past year, the stock has fluctuated between a low of $16.09 and a high of $24.96.
Dividend Announcement and Institutional Trading Activity
In addition to its earnings report, Ames National also declared a quarterly dividend of $0.20 per share, payable to investors recorded on December 1, 2023. This dividend represents an annualized total of $0.80 and yields 3.3%. The company’s dividend payout ratio stands at 44.44%, indicating a balanced approach to returning capital to shareholders.
Recent trading activity has seen significant changes in institutional holdings of Ames National. Notable transactions include Russell Investments Group Ltd., which increased its stake by 67.6% in the second quarter, acquiring an additional 556 shares to reach a total of 1,379 shares valued at $25,000. Similarly, BNP Paribas Financial Markets raised its position by 148.3% in the third quarter, now holding 2,175 shares worth $44,000 after purchasing an additional 1,299 shares.
Other significant changes include First Trust Advisors LP, which acquired a new position valued at $187,000, and JPMorgan Chase & Co., which boosted its holdings by 39.9%, now owning 11,420 shares worth $231,000. Institutional investors collectively own 26.47% of Ames National’s stock, reflecting a growing interest in the company.
About Ames National Corporation
Ames National Corporation operates as the bank holding company for Ames National Bank, a full-service community bank located in Ames, Iowa. The bank offers a variety of commercial and consumer banking products tailored to meet the needs of individuals, small businesses, farmers, and agribusiness clients throughout central Iowa. Its branch network supports local economic development and community initiatives, providing essential banking services such as checking and savings accounts, money market products, and online banking facilities.
The recent earnings report and dividend announcement highlight Ames National’s commitment to solid financial management while supporting its investors and the broader community.
