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ATLO

Ames National NasdaqCM:ATLO Stock Report

Last Price

US$22.02

Market Cap

US$198.0m

7D

-0.7%

1Y

-5.9%

Updated

24 Sep, 2022

Data

Company Financials
ATLO fundamental analysis
Snowflake Score
Valuation3/6
Future Growth0/6
Past Performance2/6
Financial Health6/6
Dividends5/6

ATLO Stock Overview

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.

Ames National Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Ames National
Historical stock prices
Current Share PriceUS$22.02
52 Week HighUS$25.55
52 Week LowUS$20.16
Beta0.63
1 Month Change0.14%
3 Month Change-1.30%
1 Year Change-5.90%
3 Year Change-23.73%
5 Year Change-26.23%
Change since IPO229.27%

Recent News & Updates

Sep 11

Ames National: High Dividend Yield, Positive Earnings Outlook For Next Year

Summary High agriculture commodity prices and strength in Iowa’s job market will likely sustain loan growth through the end of 2023. Higher interest rates will have a lagged impact on the net interest margin. Provisioning will likely normalize due to higher loan growth and a high-inflation environment. ATLO is offering a high dividend yield for a bank-holding company. Further, the December 2022 target price suggests a small upside.

Jun 17

Ames National: Running A Conservative Balance Sheet, But Watch The Book Value

Ames National is a consistently strong performer. A very substantial portion of its assets are invested in securities and the higher market interest rates should boost the interest income. The sharp increase in interest rates also increases unrealized losses and reduces unrealized gains and this had a negative impact on the book value. I still think Ames is attractive at the current prices but I'll keep on monitoring the situation before committing to a long position.

Shareholder Returns

ATLOUS BanksUS Market
7D-0.7%-5.8%-5.2%
1Y-5.9%-21.7%-23.0%

Return vs Industry: ATLO exceeded the US Banks industry which returned -21.7% over the past year.

Return vs Market: ATLO exceeded the US Market which returned -23.1% over the past year.

Price Volatility

Is ATLO's price volatile compared to industry and market?
ATLO volatility
ATLO Average Weekly Movement1.1%
Banks Industry Average Movement3.4%
Market Average Movement6.9%
10% most volatile stocks in US Market15.8%
10% least volatile stocks in US Market2.8%

Stable Share Price: ATLO is less volatile than 75% of US stocks over the past 3 months, typically moving +/- 1% a week.

Volatility Over Time: ATLO's weekly volatility (1%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
1903261John Nelsonhttps://www.amesnational.com

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 a range of deposits, including checking and savings accounts; and time deposits, such as money market accounts and certificates of deposit. It also provides loans, such as short-term and medium-term commercial and agricultural real estate, residential real estate loans, equipment, vehicle, and home improvement loans; personal loans and lines of credit; agricultural and business operating loans and lines of credit; and originates mortgage loans for sale into the secondary market.

Ames National Fundamentals Summary

How do Ames National's earnings and revenue compare to its market cap?
ATLO fundamental statistics
Market CapUS$198.01m
Earnings (TTM)US$21.35m
Revenue (TTM)US$65.13m

9.3x

P/E Ratio

1.3x

P/B Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
ATLO income statement (TTM)
RevenueUS$65.13m
Cost of RevenueUS$0
Gross ProfitUS$65.13m
Other ExpensesUS$43.79m
EarningsUS$21.35m

Last Reported Earnings

Jun 30, 2022

Next Earnings Date

n/a

Earnings per share (EPS)2.37
Gross Margin100.00%
Net Profit Margin32.78%
Debt/Equity Ratio25.2%

How did ATLO perform over the long term?

See historical performance and comparison

Dividends

4.9%

Current Dividend Yield

46%

Payout Ratio

Does ATLO pay a reliable dividends?

See ATLO dividend history and benchmarks
When do you need to buy ATLO by to receive an upcoming dividend?
Ames National dividend dates
Ex Dividend DateOct 31 2022
Dividend Pay DateNov 15 2022
Days until Ex dividend35 days
Days until Dividend pay date50 days

Does ATLO pay a reliable dividends?

See ATLO dividend history and benchmarks
We’ve recently updated our valuation analysis.

Valuation

Is ATLO undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

3/6

Valuation Score 3/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • Analyst Forecast

Key Valuation Metric

Which metric is best to use when looking at relative valuation for ATLO?

Other financial metrics that can be useful for relative valuation.

ATLO key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenuen/a
Enterprise Value/EBITDAn/a
PEG Ration/a

Price to Earnings Ratio vs Peers

How does ATLO's PE Ratio compare to its peers?

ATLO PE Ratio vs Peers
The above table shows the PE ratio for ATLO vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average8x
MSBC Mission Bancorp
9.8xn/aUS$198.7m
CHMG Chemung Financial
7x-2.5%US$197.2m
TCFC Community Financial
7.3x0.7%US$191.0m
BSVN Bank7
8.2x14.3%US$207.5m
ATLO Ames National
9.3xn/aUS$198.0m

Price-To-Earnings vs Peers: ATLO is expensive based on its Price-To-Earnings Ratio (9.3x) compared to the peer average (8x).


Price to Earnings Ratio vs Industry

How does ATLO's PE Ratio compare vs other companies in the US Banks Industry?

Price-To-Earnings vs Industry: ATLO is good value based on its Price-To-Earnings Ratio (9.3x) compared to the US Banks industry average (9.7x)


Price to Earnings Ratio vs Fair Ratio

What is ATLO's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

ATLO PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio9.3x
Fair PE Ration/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate ATLO's Price-To-Earnings Fair Ratio for valuation analysis.


Share Price vs Fair Value

What is the Fair Price of ATLO when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: ATLO ($22.02) is trading below our estimate of fair value ($48.3)

Significantly Below Fair Value: ATLO is trading below fair value by more than 20%.


Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Insufficient data to show price forecast.


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Future Growth

How is Ames National forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

Future Growth Score

0/6

Future Growth Score 0/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


10.6%

Forecasted Banks industry annual growth in earnings

In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Ames National has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.


Discover growth companies

  • Examine whether Ames National is trading at an attractive price based on how much it is expected to earn in the future, and relative to its industry peers and the wider market.

Past Performance

How has Ames National performed over the past 5 years?

Past Performance Score

2/6

Past Performance Score 2/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


10.6%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: ATLO has high quality earnings.

Growing Profit Margin: ATLO's current net profit margins (32.8%) are lower than last year (35.1%).


Past Earnings Growth Analysis

Earnings Trend: ATLO's earnings have grown by 10.6% per year over the past 5 years.

Accelerating Growth: ATLO's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: ATLO had negative earnings growth (-6.2%) over the past year, making it difficult to compare to the Banks industry average (8.7%).


Return on Equity

High ROE: ATLO's Return on Equity (13.6%) is considered low.


Discover strong past performing companies

Financial Health

How is Ames National's financial position? (This company is analysed differently as a bank or financial institution)

Financial Health Score

6/6

Financial Health Score 6/6

  • Asset Level

  • Allowance for Bad Loans

  • Low Risk Liabilities

  • Loan Level

  • Low Risk Deposits

  • Level of Bad Loans

Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet


Financial Institutions Analysis

Asset Level: ATLO's Assets to Equity ratio (13.5x) is moderate.

Allowance for Bad Loans: ATLO has a sufficient allowance for bad loans (143%).

Low Risk Liabilities: 98% of ATLO's liabilities are made up of primarily low risk sources of funding.

Loan Level: ATLO has an appropriate level of Loans to Assets ratio (54%).

Low Risk Deposits: ATLO's Loans to Deposits ratio (59%) is appropriate.

Level of Bad Loans: ATLO has an appropriate level of bad loans (1%).


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Dividend

What is Ames National current dividend yield, its reliability and sustainability?

Dividend Score

5/6

Dividend Score 5/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Future Dividend Coverage


4.90%

Current Dividend Yield

Upcoming Dividend Payment

TodaySep 25 2022Ex Dividend DateOct 31 2022Dividend Pay DateNov 15 202215 days from Ex DividendBuy in the next 35 days to receive the upcoming dividend

Dividend Yield vs Market

Notable Dividend: ATLO's dividend (4.9%) is higher than the bottom 25% of dividend payers in the US market (1.65%).

High Dividend: ATLO's dividend (4.9%) is in the top 25% of dividend payers in the US market (4.57%)


Stability and Growth of Payments

Stable Dividend: ATLO's dividends per share have been stable in the past 10 years.

Growing Dividend: ATLO's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Earnings Coverage: With its reasonably low payout ratio (45.6%), ATLO's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years or that it will be covered by earnings.


Discover strong dividend paying companies

Management

How experienced are the management team and are they aligned to shareholders interests?

4.3yrs

Average management tenure


CEO

John Nelson (55 yo)

4.25yrs

Tenure

US$467,123

Compensation

Mr. John P. Nelson has been President and Chief Executive Officer of Ames National Corporation since June 29, 2018. He has been a Director of Ames National Corporation since April 25, 2013. He served as Ch...


CEO Compensation Analysis

Compensation vs Market: John's total compensation ($USD467.12K) is below average for companies of similar size in the US market ($USD1.68M).

Compensation vs Earnings: John's compensation has been consistent with company performance over the past year.


Leadership Team

Experienced Management: ATLO's management team is considered experienced (4.3 years average tenure).


Board Members

Experienced Board: ATLO's board of directors are considered experienced (7.4 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: ATLO insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

NasdaqCM:ATLO Recent Insider Transactions by Companies or Individuals
DateValueNameEntityRoleSharesMax Price
02 Sep 22BuyUS$6,570James LarsonIndividual300US$21.90
31 Aug 22BuyUS$4,400David BensonIndividual200US$22.00
31 Aug 22BuyUS$5,544Michelle CassabaumIndividual252US$22.00
26 Aug 22BuyUS$4,390Patrick HaganIndividual200US$21.95
25 Aug 22BuyUS$11,000James LarsonIndividual500US$22.00
19 Aug 22BuyUS$11,125Patrick HaganIndividual500US$22.25
16 Aug 22BuyUS$9,995Richard SchreierIndividual448US$22.31
29 Jul 22BuyUS$1,235Michelle CassabaumIndividual56US$22.05
27 Jul 22BuyUS$17,705James LarsonIndividual800US$22.15
15 Jun 22BuyUS$4,505Adam SnodgrassIndividual200US$22.53
14 Jun 22BuyUS$6,750Patrick HaganIndividual300US$22.50
14 Jun 22BuyUS$4,500Lisa EslingerIndividual200US$22.50
31 May 22BuyUS$8,190Michelle CassabaumIndividual357US$22.94
31 May 22BuyUS$5,024David BensonIndividual219US$22.94
31 May 22BuyUS$1,137Betty Baudler HorrasIndividual50US$22.75
27 May 22BuyUS$22,700Kevin SwartzIndividual1,000US$22.70
26 May 22BuyUS$3,431Betty Baudler HorrasIndividual150US$22.89
26 May 22BuyUS$4,570Steven ForthIndividual200US$22.85
25 May 22BuyUS$4,570Scott BauerIndividual200US$22.85
20 May 22BuyUS$4,570John PierschbacherIndividual200US$22.85
20 May 22BuyUS$4,550Robert ThomasIndividual200US$22.75
20 May 22BuyUS$6,855James LarsonIndividual300US$22.85
20 May 22BuyUS$6,870Jeffrey PutzierIndividual300US$22.90
19 May 22BuyUS$11,425Patrick HaganIndividual500US$22.85
19 May 22BuyUS$4,600Jeffrey PutzierIndividual200US$23.00
13 May 22BuyUS$4,782Stephen McGillIndividual200US$23.91
12 May 22BuyUS$11,505Patrick HaganIndividual500US$23.01
11 May 22BuyUS$4,650Thomas PohlmanIndividual200US$23.25
29 Apr 22BuyUS$1,246Michelle CassabaumIndividual53US$23.50
29 Apr 22BuyUS$823David BensonIndividual35US$23.50
11 Mar 22BuyUS$6,270Patrick HaganIndividual264US$23.75
02 Mar 22BuyUS$7,185Patrick HaganIndividual300US$23.95
28 Feb 22BuyUS$5,328Michelle CassabaumIndividual222US$24.00
28 Feb 22BuyUS$5,544David BensonIndividual231US$24.00
31 Jan 22BuyUS$1,242Michelle CassabaumIndividual50US$24.83
31 Jan 22BuyUS$1,688David BensonIndividual68US$24.83
30 Nov 21BuyUS$5,366Michelle CassabaumIndividual219US$24.50
30 Nov 21BuyUS$6,199David BensonIndividual253US$24.50
29 Oct 21BuyUS$6,962Michelle CassabaumIndividual294US$24.40
29 Oct 21BuyUS$7,445David BensonIndividual313US$24.40
25 Oct 21BuyUS$7,050Patrick HaganIndividual300US$23.50

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Top 25 shareholders own 20.24% of the company
OwnershipNameSharesCurrent ValueChange %Portfolio %
4.5%
The Vanguard Group, Inc.
404,876$8.9m1.23%no data
3.12%
Stadium Capital Management, LLC
280,780$6.2m-2.42%2.33%
2.34%
Dimensional Fund Advisors LP
209,991$4.6m9.2%no data
1.5%
BlackRock, Inc.
135,210$3.0m-1.13%no data
1.09%
Renaissance Technologies LLC
97,884$2.2m-24.7%no data
1.02%
Millennium Management LLC
91,648$2.0m-21.31%no data
0.95%
Geode Capital Management, LLC
85,152$1.9m5.38%no data
0.54%
BNY Mellon Asset Management
48,554$1.1m-0.33%no data
0.47%
James Larson
42,300$931.4k3.93%no data
0.44%
LPL Financial Corporation, Asset Management Arm
39,792$876.2k63.24%no data
0.43%
Carl P. Sherr & Co., Llc
39,113$861.3k0.02%0.65%
0.4%
Susquehanna Fundamental Investments, LLC
35,900$790.5k0%0.02%
0.36%
State Street Global Advisors, Inc.
32,412$713.7k3.51%no data
0.35%
Two Sigma Investments, LP
31,168$686.3k26.7%no data
0.34%
Two Sigma Advisers, LP
30,300$667.2k25.73%no data
0.33%
RBF Capital LLC
30,000$660.6k0%0.05%
0.32%
Wilcoxson Wealth Management
29,037$639.4k0.03%no data
0.3%
Royce & Associates, LP
26,867$591.6k-71.12%0.01%
0.28%
Betty Baudler Horras
24,850$547.2k0.81%no data
0.24%
Northern Trust Global Investments
21,808$480.2k0.23%no data
0.2%
Morgan Stanley, Investment Banking and Brokerage Investments
18,062$397.7k-5.13%no data
0.19%
Thomas Pohlman
17,334$381.7k1.17%no data
0.18%
Arrowstreet Capital, Limited Partnership
16,190$356.5k-32.29%no data
0.17%
Acadian Asset Management LLC
15,401$339.1k19.5%no data
0.17%
David Benson
15,139$333.4k1.34%no data

Company Information

Ames National Corporation's employee growth, exchange listings and data sources


Key Information

  • Name: Ames National Corporation
  • Ticker: ATLO
  • Exchange: NasdaqCM
  • Founded: 1903
  • Industry: Regional Banks
  • Sector: Banks
  • Implied Market Cap: US$198.008m
  • Shares outstanding: 8.99m
  • Website: https://www.amesnational.com

Number of Employees


Location

  • Ames National Corporation
  • 405 5th Street
  • Ames
  • Iowa
  • 50010
  • United States


Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
ATLONasdaqCM (Nasdaq Capital Market)YesCommon StockUSUSDApr 1995

Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/09/24 00:00
End of Day Share Price2022/09/23 00:00
Earnings2022/06/30
Annual Earnings2021/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.