Ritholtz Wealth Management Makes New $455,000 Investment in Ames National Corporation $ATLO

Ritholtz Wealth Management acquired a new position in shares of Ames National Corporation (NASDAQ:ATLO) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 19,805 shares of the financial services provider’s stock, valued at approximately $455,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ATLO. Russell Investments Group Ltd. raised its holdings in Ames National by 67.6% during the 2nd quarter. Russell Investments Group Ltd. now owns 1,379 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 556 shares during the last quarter. CWM LLC raised its holdings in Ames National by 150.5% during the 3rd quarter. CWM LLC now owns 1,836 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 1,103 shares during the last quarter. BNP Paribas Financial Markets raised its holdings in Ames National by 148.3% during the 3rd quarter. BNP Paribas Financial Markets now owns 2,175 shares of the financial services provider’s stock worth $44,000 after purchasing an additional 1,299 shares during the last quarter. First Trust Advisors LP bought a new stake in shares of Ames National in the 2nd quarter valued at about $187,000. Finally, Carl P. Sherr & Co. LLC bought a new stake in shares of Ames National in the 3rd quarter valued at about $202,000. 26.47% of the stock is owned by institutional investors.

Ames National Price Performance

Shares of ATLO stock opened at $28.35 on Friday. The stock has a market cap of $251.18 million, a PE ratio of 13.25 and a beta of 0.33. The stock has a 50-day moving average of $27.66 and a 200-day moving average of $24.16. Ames National Corporation has a one year low of $16.52 and a one year high of $29.71.

Ames National (NASDAQ:ATLO) last announced its quarterly earnings results on Friday, January 23rd. The financial services provider reported $0.73 EPS for the quarter. The company had revenue of $15.34 million during the quarter. Ames National had a return on equity of 9.70% and a net margin of 19.36%.

Ames National Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 13th. Investors of record on Friday, February 27th were given a $0.24 dividend. The ex-dividend date was Friday, February 27th. This represents a $0.96 annualized dividend and a dividend yield of 3.4%. This is a boost from Ames National’s previous quarterly dividend of $0.20. Ames National’s payout ratio is presently 44.86%.

Analysts Set New Price Targets

A number of analysts have recently commented on ATLO shares. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Ames National in a research note on Monday, December 29th. National Bank Financial set a $31.00 price target on Ames National in a research note on Wednesday. Finally, Brean Capital raised Ames National to a “hold” rating in a research note on Wednesday. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $31.00.

Ames National 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.