Ames National Corporation ATLO R2K

Financial Services · Banks - Regional · United States

https://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, Taylor, and Union Counties in central, north-central, and south-central Iowa. It accepts various deposit products, including checking and savings accounts; and time deposits, such as money market accounts and certificates of deposit. The company also provides loans, such as short-term and medium-term commercial, multi-family and agricultural real estate, residential real estate loans, equipment, vehicle, and home improvement loans; consumer loans to finance consumer purchases, such as automobiles, trucks, recreational vehicles, household furnishings, boats, 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. In addition, it offers cash management, merchant credit card processing, safe deposit box, wire transfer, direct deposit, and automated/video teller machine access services; and automatic drafts for various accounts, as well as wealth management services. Further, it provides farm management, investment, and custodial services for individuals, businesses, and non-profit organizations; and online, mobile, and private banking services. Ames National Corporation was founded in 1903 and is headquartered in Ames, Iowa.

Market & Price

Market Cap

$254.56M

Current Price

$28.74

High / Low (52W)

$29.61 / $16.55

Beta

0.29

Valuation

Stock P/E

11.88

Industry PE

12.01

Forward P/E

10.19

PEG Ratio

1.03

Book Value

$23.43

Price to Book

1.23

P/S

3.68

EV/EBITDA

Dividend Yield

3.34%

Profitability & Returns

ROCE

ROE

11.03%

ROA

1.00%

Profit Margin

31.18%

Op Margin

43.09%

EPS (Latest Qtr)

$0.67

EPS (TTM)

$2.42

Balance Sheet & Liquidity

Debt/Equity

Quick Ratio

Current Ratio

Debt

$55.12M

Total Assets

$2.13B

Current Assets

Working Capital

Ownership

Promoter Holding

1.25%

Chg in Prom Hold

0.00%

FII / Inst Holding

41.47%

Chg in FII Hold

-0.00%

Financial Snapshot

Enterprise Value

$185.42M

Total Revenue (TTM)

$69.09M

EBITDA

Free Cash Flow

Operating Cash Flow

$22.58M

Shares Outstanding

8.86M

Gross Margin

0.00%

Payout Ratio

34.71%

Growth (CAGR)

Revenue 5Y

2.03%

Profit 5Y

-0.46%

Revenue (YoY)

28.00%

Earnings (YoY)

74.30%

PROS

Excellent profit margin of 31.2%.
Attractive dividend yield of 3.34%.
In a confirmed uptrend (50-DMA above 200-DMA).

CONS

Earnings shrank at -0.5% CAGR over 5 years.

* The pros and cons are auto-generated from financial metrics.

Price Chart

Robinhood TradingView StockAnalysis

Fundamental Growth

Period: Metric:

Figures from the latest reported periods. CAGR is computed across the displayed window (quarterly CAGR is annualised assuming 4 quarters per year).

Peer comparison

Peer companies in the same sector (Financial Services).

#	Name	CMP $	P/E	Mkt Cap	Div Yld %	ROCE %	ROE %	Rev CAGR 5Y %	Profit CAGR 5Y %
1	ATLO Ames National Corporation R2K	28.74	11.88	$254.56M	3.34%	-	11.03%	2.03%	-0.46%
2	JPM JPMorgan Chase & Co. SPX	299.31	14.33	$802.00B	2.00%	-	16.47%	12.50%	14.83%
3	V Visa Inc. SPX	326.36	28.48	$620.65B	0.82%	38.38%	60.35%	10.92%	10.28%
4	MA Mastercard Incorporated SPX	493.98	28.57	$436.47B	0.70%	61.47%	-	13.82%	14.66%
5	MS Morgan Stanley SPX	208.00	18.84	$328.08B	1.92%	-	16.39%	9.52%	15.20%
6	GS The Goldman Sachs Group, Inc. SPX	1,025.56	18.73	$302.55B	1.76%	-	14.55%	7.16%	15.11%
7	WFC Wells Fargo & Company SPX	77.54	11.98	$237.29B	2.32%	-	12.03%	4.02%	15.98%
8	BLK BlackRock, Inc. SPX	1,046.88	26.32	$162.51B	2.19%	4.89%	11.90%	10.65%	2.36%
9	SCHW The Charles Schwab Corporation SPX	87.35	17.37	$151.91B	1.47%	-	19.08%	4.83%	7.21%

Quarterly Results

Figures in USD.

Metric	Sep 2014	Dec 2014	Mar 2015	Jun 2015	Sep 2015	Dec 2015	Mar 2016	Jun 2016	Sep 2016	Dec 2016	Mar 2017	Jun 2017	Sep 2017	Dec 2017	Mar 2018	Jun 2018	Sep 2018	Mar 2019	Jun 2019	Sep 2019	Mar 2020	Jun 2020	Sep 2020	Mar 2021	Jun 2021	Sep 2021	Mar 2022	Jun 2022	Sep 2022	Mar 2023	Jun 2023	Sep 2023	Mar 2024	Jun 2024	Sep 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
Revenue	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	15.46M	16.11M	16.58M	18.68M	18.22M
Cost of Revenue	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gross Profit	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Operating Expenses	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Operating Income	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
EBITDA	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Interest Expense	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	8.20M	8.02M	7.80M	7.41M	6.79M
Pretax Income	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	4.24M	5.64M	5.71M	8.28M	7.69M
Tax Provision	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	794.00K	1.12M	1.16M	1.76M	1.73M
Net Income	3.73M	3.14M	3.63M	3.37M	4.10M	3.92M	3.81M	4.10M	3.80M	4.03M	3.61M	3.47M	3.93M	2.69M	4.04M	4.32M	4.46M	4.24M	4.62M	4.04M	3.56M	4.43M	5.67M	6.02M	5.88M	6.71M	5.14M	4.19M	5.54M	3.20M	2.56M	2.92M	2.30M	2.18M	2.22M	3.44M	4.51M	4.56M	6.51M	5.96M
Diluted EPS	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0.39	0.51	0.51	0.73	0.67

Profit & Loss (Annual)

Figures in USD.

Metric	Dec 2009	Dec 2010	Dec 2011	Dec 2012	Dec 2013	Dec 2014	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Revenue	-	-	-	-	-	-	-	-	-	-	-	-	-	62.93M	53.84M	54.81M	66.83M
Cost of Revenue	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gross Profit	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Operating Expenses	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Operating Income	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
EBITDA	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Interest Expense	-	-	-	-	-	-	-	-	-	-	-	-	-	8.31M	29.68M	37.63M	31.43M
Pretax Income	-	-	-	-	-	-	-	-	-	-	-	-	-	25.16M	12.89M	12.24M	23.87M
Tax Provision	-	-	-	-	-	-	-	-	-	-	-	-	-	5.87M	2.07M	2.02M	4.84M
Net Income	9.01M	12.97M	13.92M	14.18M	13.95M	15.25M	15.01M	15.73M	13.70M	17.01M	17.19M	18.85M	-	19.29M	10.82M	10.22M	19.03M
Diluted EPS	0.95	1.37	1.48	-	-	-	-	-	-	-	-	-	-	2.14	1.20	1.14	2.14

Compounded Sales Growth

5 Years:	2.03%
1 Year:	28.00%

Compounded Profit Growth

5 Years:	-0.46%
1 Year:	74.30%

Stock Price Performance

1 Year:	+69.86%
6 Months:	+34.52%
3 Months:	+6.41%
1 Month:	+2.64%

Balance Sheet (Annual)

Figures in USD.

Metric	Dec 2008	Dec 2009	Dec 2010	Dec 2011	Dec 2012	Dec 2013	Dec 2014	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Total Assets	-	-	962.97M	1.04B	1.22B	1.23B	1.30B	1.33B	1.37B	1.38B	1.46B	1.74B	1.98B	-	2.13B	2.16B	2.13B	2.13B
Current Assets	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Cash & Equivalents	-	-	-	22.83M	34.81M	24.27M	23.73M	24.01M	29.48M	26.40M	30.38M	34.62M	173.10M	-	42.55M	64.00M	107.39M	132.43M
Inventory	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Receivables	-	-	-	-	-	-	-	-	-	-	-	-	-	-	11.28M	12.95M	13.86M	14.07M
Total Liabilities	-	-	841.61M	901.01M	1.07B	1.09B	1.15B	1.17B	1.20B	1.20B	1.28B	1.55B	1.77B	-	1.99B	1.99B	1.96B	1.93B
Current Liabilities	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Long Term Debt	-	-	20.00M	20.00M	20.00M	20.00M	23.00M	13.00M	13.00M	13.00M	-	-	-	-	39.12M	110.59M	46.95M	21.35M
Total Debt	-	-	-	-	-	-	-	-	-	-	-	-	-	-	39.12M	110.59M	46.95M	21.35M
Total Equity	103.84M	112.34M	121.36M	134.56M	144.74M	142.11M	154.67M	161.25M	165.11M	170.75M	172.87M	187.58M	209.49M	-	149.10M	165.79M	174.71M	207.89M
Shares Outstanding	-	-	-	-	-	-	-	-	-	-	-	-	-	-	8.99M	8.99M	8.95M	8.86M

Cash Flows (Annual)

Figures in USD.

Metric	Dec 2009	Dec 2010	Dec 2011	Dec 2012	Dec 2013	Dec 2014	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Operating Cash Flow	11.40M	16.82M	21.27M	22.01M	23.53M	19.51M	22.62M	21.42M	18.85M	20.71M	20.18M	29.71M	-	21.23M	19.21M	14.30M	21.34M
Investing Cash Flow	-63.25M	-54.31M	-65.27M	-76.96M	-47.92M	16.18M	-34.38M	-43.47M	-16.90M	8.64M	-78.96M	-184.26M	-	-127.38M	19.06M	71.98M	44.21M
Financing Cash Flow	45.95M	34.16M	51.35M	66.92M	13.86M	-36.23M	12.03M	27.52M	-5.03M	-25.35M	63.01M	205.83M	-	44.91M	-11.05M	-40.15M	-40.02M
Capital Expenditure	203.00K	-362.51K	-554.10K	-863.38K	-445.79K	-1.59M	-2.20M	-267.76K	-518.15K	-616.54K	-780.44K	-1.25M	-	-2.86M	-4.89M	-298.00K	-642.00K
Free Cash Flow	11.60M	16.46M	20.72M	21.15M	23.08M	17.92M	20.43M	21.15M	18.33M	20.09M	19.40M	28.46M	-	18.37M	14.31M	14.00M	20.70M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-	-	-	-	-61.24M	27.22M	46.13M	25.53M
Share Buybacks	0	0	2.02M	0	0	-	-	-	-	452.22K	1.81M	1.99M	710.00K	2.30M	0	704.00K	1.68M
Dividends Paid	-5.47M	4.06M	4.70M	5.40M	5.87M	6.52M	7.26M	7.73M	8.10M	10.80M	8.78M	9.07M	9.39M	9.68M	9.71M	9.08M	7.11M

Ratios (Annual)

Figures in %.

Metric	Dec 2009	Dec 2010	Dec 2011	Dec 2012	Dec 2013	Dec 2014	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Gross Margin %	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Operating Margin %	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net Margin %	-	-	-	-	-	-	-	-	-	-	-	-	-	30.7%	20.1%	18.6%	28.5%
ROE %	8.0%	10.7%	10.3%	9.8%	9.8%	9.9%	9.3%	9.5%	8.0%	9.8%	9.2%	9.0%	-	12.9%	6.5%	5.8%	9.2%
ROCE %	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-

Shareholding Pattern

Insiders

1.25%

Institutions

41.47%

Public Float

42.00%

Top Institutional Holders

#	Holder	% Held	Shares	Value
1	Fourthstone LLC	7.71%	683.25K	$19.64M
2	Blackrock Inc.	6.88%	609.16K	$17.51M
3	Vanguard Capital Management LLC	4.52%	400.22K	$11.50M
4	Dimensional Fund Advisors LP	3.08%	273.04K	$7.85M
5	Geode Capital Management, LLC	2.29%	202.48K	$5.82M
6	State Street Corporation	1.71%	151.77K	$4.36M
7	Arrowstreet Capital, Limited Partnership	1.13%	100.39K	$2.89M
8	Elizabeth Park Capital Advisors, Ltd.	0.91%	80.48K	$2.31M
9	Northern Trust Corporation	0.79%	69.78K	$2.01M
10	LPL Financial LLC	0.65%	57.18K	$1.64M

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