Ames National (NASDAQ:ATLO) Share Price Passes Below 200 Day Moving Average – Here’s What Happened

Ames National Co. (NASDAQ:ATLO) shares passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $19.33 and traded as low as $16.90. Ames National shares last traded at $17.10, with a volume of 18,065 shares traded.

Ames National Stock Performance

The firm has a market cap of $153.73 million, a PE ratio of 15.41 and a beta of 0.55. The stock has a 50 day simple moving average of $18.05 and a two-hundred day simple moving average of $19.33.

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

Ames National Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, November 1st will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 4.68%. The ex-dividend date is Friday, November 1st. Ames National’s dividend payout ratio is currently 72.07%.

Institutional Investors Weigh In On Ames National

Several hedge funds have recently modified their holdings of the company. BNP Paribas Financial Markets lifted its position in shares of Ames National by 75.7% during the 1st quarter. BNP Paribas Financial Markets now owns 4,251 shares of the financial services provider’s stock valued at $86,000 after buying an additional 1,832 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in Ames National by 4.9% during the second quarter. Bank of New York Mellon Corp now owns 37,235 shares of the financial services provider’s stock valued at $763,000 after purchasing an additional 1,737 shares in the last quarter. Choreo LLC purchased a new stake in Ames National during the 2nd quarter worth approximately $807,000. Finally, Vanguard Group Inc. grew its holdings in shares of Ames National by 0.6% during the first quarter. Vanguard Group Inc. now owns 489,890 shares of the financial services provider’s stock worth $9,886,000 after buying an additional 2,965 shares in the last quarter. 26.47% of the stock is owned by hedge funds and other institutional investors.

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.