Ames National (ATLO)
NASDAQ:ATLO
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Ames National
(NASDAQ:ATLO)
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Rating:70Outperform
Price Target:
$31.00
â–²(41.81% Upside)
Action:Reiterated
Date:05/16/26
The score is driven primarily by improving financial performance (profitability rebound, stronger balance-sheet leverage, and supportive free cash flow) and supported by reasonable valuation and a solid dividend. Offsetting factors are weaker near-term technical momentum (below short-term moving averages with slightly negative MACD), which tempers the overall rating.
Positive Factors
Improved Balance Sheet Leverage
Leverage falling markedly to ~0.26 TTM from ~0.99 in 2023 and stable equity strengthen solvency. A conservative balance sheet reduces financial risk, supports lending capacity, cushions losses, and enables steady capital returns and selective growth over the medium term.
Negative Factors
Profitability Not Yet Back to Peak
While profitability has recovered, margins and returns remain below 2021–2022 peaks and have shown multi-year volatility. This cyclical variability means earnings and capital returns could be less predictable, complicating long-term planning and investor expectations.
Read all positive and negative factors
Positive Factors
Negative Factors
Improved Balance Sheet Leverage
Leverage falling markedly to ~0.26 TTM from ~0.99 in 2023 and stable equity strengthen solvency. A conservative balance sheet reduces financial risk, supports lending capacity, cushions losses, and enables steady capital returns and selective growth over the medium term.
Read all positive factors
Ames National (ATLO) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$255.00M
Dividend Yield3.49%
Average Volume (3M)22.55K
Price to Earnings (P/E)10.6
Beta (1Y)0.48
Revenue Growth6.16%
EPS Growth91.37%
CountryUS
Employees258
SectorFinancial
Sector Strength70
IndustryBanks - Regional
Share Statistics
EPS (TTM)N/A
Shares Outstanding8,857,220
10 Day Avg. Volume38,730
30 Day Avg. Volume22,548
Financial Highlights & Ratios
PEG Ratio0.12
Price to Book (P/B)0.99
Price to Sales (P/S)2.09
P/FCF Ratio9.90
Enterprise Value/Market Cap1.13
Enterprise Value/Revenue2.90
Enterprise Value/Gross Profit4.17
Enterprise Value/Ebitda10.40
Forecast
1Y Price Target
$31.00Price Target Upside41.81% Upside
Rating ConsensusHold
Number of Analyst Covering1
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Ames National Business Overview & Revenue Model
Company Description
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 co...
How the Company Makes Money
Ames National primarily makes money through its banking subsidiary by earning net interest income and generating noninterest income. Net interest income is the spread between (1) interest earned on loans and other interest-earning assets (e.g., co...
Ames National Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
77
Positive
Cash Flow
70
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 99.60M | 98.26M | 92.44M | 83.52M | 71.24M | 71.02M |
| Gross Profit | 69.20M | 65.14M | 54.22M | 53.05M | 63.80M | 67.29M |
| EBITDA | 27.73M | 24.67M | 13.93M | 14.64M | 27.16M | 32.70M |
| Net Income | 21.54M | 19.03M | 10.22M | 10.82M | 19.29M | 23.91M |
Balance Sheet | ||||||
| Total Assets | 2.14B | 2.13B | 2.13B | 2.16B | 2.13B | 2.14B |
| Cash, Cash Equivalents and Short-Term Investments | 710.25M | 676.43M | 302.18M | 800.39M | 828.99M | 937.05M |
| Total Debt | 54.93M | 60.15M | 99.36M | 164.58M | 79.80M | 42.85M |
| Total Liabilities | 1.93B | 1.93B | 1.96B | 1.99B | 1.99B | 1.93B |
| Stockholders Equity | 207.57M | 207.89M | 174.71M | 165.79M | 149.10M | 207.78M |
Cash Flow | ||||||
| Free Cash Flow | 22.37M | 20.70M | 14.00M | 14.31M | 18.37M | 28.60M |
| Operating Cash Flow | 22.58M | 21.34M | 14.30M | 19.21M | 21.23M | 30.47M |
| Investing Cash Flow | 6.41M | 44.21M | 71.98M | 19.06M | -127.38M | -268.57M |
| Financing Cash Flow | -74.23M | -40.02M | -40.15M | -11.05M | 44.91M | 154.13M |
Ames National Technical Analysis
Positive
21.86
Price Trends
28.11
Positive
26.87
Positive
23.69
Positive
Market Momentum
0.05
Negative
58.56
Neutral
72.30
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ATLO, the sentiment is Positive. The current price of 21.86 is below the 20-day moving average (MA) of 28.25, below the 50-day MA of 28.11, and below the 200-day MA of 23.69, indicating a bullish trend. The MACD of 0.05 indicates Negative momentum. The RSI at 58.56 is Neutral, neither overbought nor oversold. The STOCH value of 72.30 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for ATLO.
Ames National Risk Analysis
Ames National disclosed 31 risk factors in its most recent earnings report. Ames National reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Ames National Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
76 Outperform | $222.41M | 12.02 | 9.29% | 2.27% | 6.08% | 23.01% | |
75 Outperform | $229.66M | 11.80 | 13.07% | 2.58% | 3.06% | 18.08% | |
73 Outperform | $226.59M | 11.63 | 9.76% | 4.47% | 5.59% | 102.57% | |
70 Outperform | $255.00M | 10.56 | 10.65% | 3.49% | 6.16% | 91.37% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
65 Neutral | $174.95M | 11.17 | 4.45% | 2.90% | -11.93% | -32.54% | |
59 Neutral | $209.03M | 11.88 | 12.57% | 2.87% | 4.29% | 30.20% |
* Financial Sector Average
ATLO
Ames National
28.79
11.71
68.52%
NKSH
National Bankshares
35.58
10.38
41.16%
OVBC
Ohio Valley Banc
47.21
15.26
47.77%
PEBK
Peoples Bancorp Of North Carolina
42.05
14.35
51.82%
CBFV
CB Financial Services
34.49
6.74
24.27%
MRBK
Meridian Bank
17.58
4.44
33.80%
Ames National Corporate Events
Dividends
Ames National Declares Quarterly Cash Dividend to Shareholders
Positive
May 15, 2026
On May 13, 2026, Ames National Corporation declared a cash dividend of $0.24 per common share, reflecting its ongoing capital return policy to shareholders. The dividend will be paid on June 15, 2026, to shareholders of record as of the close of b...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.