Northwestern Mutual Wealth Management Co. acquired a new position in Ames National Corporation (NASDAQ:ATLO – Free Report) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 30,640 shares of the financial services provider’s stock, valued at approximately $907,000. Northwestern Mutual Wealth Management Co. owned approximately 0.35% of Ames National as of its most recent filing with the Securities & Exchange Commission.
Other large investors also recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new position in Ames National during the second quarter worth about $20,228,000. Deutsche Bank AG purchased a new stake in shares of Ames National in the 2nd quarter valued at about $259,000. Bank of New York Mellon Corp purchased a new stake in shares of Ames National in the 2nd quarter valued at about $908,000. Empowered Funds LLC boosted its position in shares of Ames National by 6.7% during the 1st quarter. Empowered Funds LLC now owns 11,353 shares of the financial services provider’s stock valued at $320,000 after acquiring an additional 714 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its position in shares of Ames National by 1.6% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 100,392 shares of the financial services provider’s stock valued at $2,833,000 after acquiring an additional 1,629 shares during the last quarter. Institutional investors own 26.47% of the company’s stock.
Ames National Stock Performance
Ames National stock opened at $31.81 on Wednesday. Ames National Corporation has a fifty-two week low of $19.56 and a fifty-two week high of $32.30. The stock has a market cap of $281.84 million, a P/E ratio of 12.33 and a beta of 0.30. The firm’s fifty day moving average price is $30.40 and its 200-day moving average price is $28.93.
Ames National Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be paid a dividend of $0.24 per share. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $0.96 annualized dividend and a yield of 3.0%. Ames National’s payout ratio is 37.21%.
Wall Street Analysts Forecast Growth
Separately, Weiss Ratings reissued a “buy (b)” rating on shares of Ames National in a report on Tuesday, June 9th. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, Ames National has a consensus rating of “Hold” and a consensus price target of $31.00.
Read Our Latest Report on ATLO
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.
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