In a recent transaction reported to the Securities and Exchange Commission, Patrick G. Hagan, a director at Ames National Corp (NASDAQ:ATLO), acquired 500 shares of common stock. The shares were purchased at a price of $17.63 each, totaling approximately $8,815. Following this transaction, Hagan's direct ownership of Ames National Corp stock increased to 7,670 shares.
InvestingPro Insights
Patrick G. Hagan's recent purchase of Ames National Corp (NASDAQ:ATLO) shares comes at an interesting time for the company. According to InvestingPro data, ATLO's stock has experienced a significant price decline over the past three months, with a total return of -16.08% during this period. This downturn might have presented what Hagan perceived as an attractive entry point.
Despite the recent price weakness, ATLO boasts a dividend yield of 4.55%, which could be appealing to income-focused investors. An InvestingPro Tip highlights that the company has maintained dividend payments for 27 consecutive years, demonstrating a commitment to shareholder returns. However, it's worth noting that dividend growth has been negative in the last twelve months, with a -25.93% decline.
The company's valuation metrics present a mixed picture. With a P/E ratio of 17.92 and a price-to-book ratio of 0.86, ATLO appears to be trading below book value. This could suggest that the stock is undervalued, potentially aligning with Hagan's decision to increase his stake.
For investors seeking more comprehensive analysis, InvestingPro offers additional tips and insights. Currently, there are 5 more InvestingPro Tips available for ATLO, which could provide further context to the company's financial health and market position.
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