Patrick G. Hagan, a director at Ames National Corp (NASDAQ:ATLO), recently acquired 330 shares of the company's common stock. The shares were purchased at a price of $16.75 each, amounting to a total transaction value of $5,527. Following this acquisition, Hagan now holds a total of 8,000 shares in the company. The transaction was executed on October 25, 2024.
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 price has fallen significantly over the last three months, with a 15.34% decline in the 3-month price total return. This dip might have presented an attractive entry point for the director.
Despite the recent price decline, ATLO boasts a dividend yield of 4.5%, which could be appealing to income-focused investors. An InvestingPro Tip reveals that the company has maintained dividend payments for 27 consecutive years, demonstrating a strong commitment to shareholder returns. This consistent dividend history aligns with Hagan's decision to increase his stake in the company.
It's worth noting that ATLO's P/E ratio stands at 16.97, which is relatively modest compared to some in the financial sector. The company's price-to-book ratio of 0.82 suggests that the stock might be undervalued relative to its book value, potentially supporting Hagan's investment decision.
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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