Hagan Patrick G, a director at Ames National Corp (NASDAQ:ATLO), has acquired 100 shares of common stock, according to a recent SEC filing. The shares were purchased at a price of $16.69 each, amounting to a total transaction value of $1,669. Following this acquisition, Hagan holds 8,100 shares directly. The transaction took place on November 4, 2024, as reported in the filing.
InvestingPro Insights
The recent insider purchase by director Hagan Patrick G comes at an interesting time for Ames National Corp (NASDAQ:ATLO). According to InvestingPro data, the company's stock is currently trading near its 52-week low, with a price-to-book ratio of 0.8, suggesting it may be undervalued relative to its assets. This could explain why an insider sees an opportunity to increase their stake.
Despite the challenging market conditions, ATLO has maintained its dividend payments for 27 consecutive years, as highlighted by an InvestingPro Tip. This demonstrates the company's commitment to returning value to shareholders, even in difficult times. The current dividend yield stands at an attractive 4.77%, which may be appealing to income-focused investors.
Another InvestingPro Tip notes that ATLO has been profitable over the last twelve months, with a P/E ratio of 16.34. This profitability, combined with the company's dividend history, could be factors in the director's decision to invest further in the company.
For investors seeking a more comprehensive analysis, InvestingPro offers additional tips and insights on ATLO, with a total of 5 tips available for subscribers looking to delve deeper into the company's financial health and market position.
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