In a recent filing with the Securities and Exchange Commission, Ames National Corp (NASDAQ:ATLO) reported that Michelle R. Cassabaum, a director at the company, acquired additional shares of common stock. On October 31, Cassabaum purchased a total of 90 shares, with transaction prices ranging from $17.1694 to $17.28 per share. The total value of these transactions amounted to $1,554. Following these acquisitions, Cassabaum now directly owns 6,958 shares of Ames National Corp.
InvestingPro Insights
Adding context to Michelle R. Cassabaum's recent stock purchase, Ames National Corp (NASDAQ:ATLO) currently has a market capitalization of $151.97 million. The company's price-to-earnings ratio stands at 17.27, which is relatively modest for the banking sector. This valuation metric, combined with the director's decision to increase her stake, might suggest confidence in the company's future prospects.
InvestingPro data reveals that ATLO has a dividend yield of 4.76%, which could be attractive to income-focused investors. This aligns with an InvestingPro Tip highlighting that Ames National has maintained dividend payments for 27 consecutive years, demonstrating a strong commitment to shareholder returns. Additionally, the company has raised its dividend for 4 consecutive years, further emphasizing its focus on rewarding shareholders.
Despite these positive attributes, it's worth noting that ATLO's revenue growth has been negative, with a -7.53% decline in the last twelve months. This could explain why the stock is currently trading at 75.51% of its 52-week high, potentially presenting a buying opportunity for investors who share Cassabaum's optimism.
For readers interested in a more comprehensive analysis, InvestingPro offers 14 additional tips on ATLO, providing a deeper understanding of the company's financial health and market position.
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