Ames National Corporation (ATLO) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Ames National Corporation stock $21.41, price $33.90, that is 36.8% below the price, quality 60 out of 100. Rating: strongly overvalued. Calculated from audited financials with 6 of our 26 valuation models and 37 quality factors, updated daily.
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Ames National Corporation
ATLO · USOur calculation puts a fair price 37% below what the stock costs today.
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 7, 2026.
How to read this chart
60‑month range $13.33 – $34.90 · fair‑value band $19.82 – $24.76 · the $33.90 price screens above the $21.41 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 7, 2026.
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Company profile
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.
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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.
Stock analysis
Ames National Corporation (ATLO) currently trades at $33.90, while our model-based Fair Value estimate is $21.41, 37% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of $28.79 per share, and 0 of the 6 models we run sit above the $33.90 price.
Bear case: the Asset-Based group reads lowest at $3.50, and 6 of the 6 models stay below the price. Data coverage for this calculation is high.
Scenario range: $19.82 (bear) to $24.76 (bull), the price of $33.90 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 60/100 (solid quality), in the Financial Services sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Ames National Corporation reported revenue of $98.3M in FY2025 versus $71.0M in FY2021, a compound +8.5%/yr. Reported net income was $19.0M in FY2025, compounding −5.6%/yr from FY2021.
Key figures
Market cap $300M Small · P/E ratio 11.8 · P/S ratio 3.93 · EPS (TTM) $2.87 · Dividend yield 2.7% · Net margin 33.3% · Return on equity 12.5% · Return on assets (EBIT) 1.0% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 69 out of 100 (low confidence).
What moves the price
The share trades about 3% below its 52-week high and 67% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Financial Services peers we cover trades at −28% fair-value upside, at −37%, ATLO screens richer than that median.
Fair Value models
All 6 models by family
Quality Score breakdown
It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.
Insider trades
In the last 6 months, 4 officers or directors bought shares worth $44,416, most recently on Oct 30, 2026. Buying cluster
- BuyAdam SnodgrassPresident of subsidiary bank200 shares at $34.13$6,826Nov 3, 2026
- BuyMichelle R CassabaumDirector7× since Jan 30, 2026: 1,107 shares, avg. $28.62$31,678Oct 30, 2026
- BuyJeffery C BakerDirector300 shares at $31.88$9,564Sep 9, 2026
- BuyDouglas W BealsDirector2× since Nov 13, 2025: 825 shares, avg. $25.23$20,812Aug 20, 2026
- BuyRichard SchreierPresident of subsidiary bank316 shares at $31.60$9,986Aug 14, 2026
- BuyPatrick G HaganDirector2× since May 12, 2026: 300 shares, avg. $27.68$8,303May 15, 2026
- BuyScot A. TrostDirector200 shares at $22.88$4,576Dec 10, 2025
- BuyScott T BauerPresident of subsidiary bank20 shares at $21.68$434Dec 2, 2025
- BuyKevin L SwartzDirector200 shares at $20.80$4,160Nov 21, 2025
- BuyJeffrey K PutzierPresident of subsidiary bank200 shares at $21.25$4,250Nov 17, 2025
Sales are often planned (taxes, diversification, 10b5-1 plans). Purchases with their own money are seen as the stronger sign. For information only: not part of the quality score or Fair Value.
Source: SEC Form 4, as of Nov 6, 2026. All filings at the SEC ↗
Revenue & earnings trend
ATLO screens overvalued: fair value 37% below the price. Compare with China Merchants Bank Co →
Earlier news
- Is Ames National (ATLO) Stock Outpacing Its Finance Peers This Year?
- Ames National (ATLO) Stock Stays Quiet As Q3 Earnings Lift Profitability
- Is Ames National (ATLO) Outperforming Other Finance Stocks This Year?
- Ames National declares $0.20 dividend
Compare Ames National Corporation with another stock
Price, fair value, quality and upside side by side.
Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Banks - Regional · 996 stocks
Valuation Multiplesvs Banks - Regional median · lower = cheaper
Strength profile in five axes (Snowflake)
VALUE 0: the price sits above our fair-value range.
HEALTH: for banks, insurers and similar financial firms borrowed money is part of the business, so we do not rate debt here.
Context: sector, industry, market
- Is the Financials sector expensive or cheap?
- P/E, EV/EBITDA and margins by industry (reference tables)
- EBIT margin by industry
- P/S ratio by industry
- Stock screener with 62 metrics
- Undervalued stocks: US Stocks
- Valuation of the USA market
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Banks - Regional stocks, each showing price versus our Fair Value estimate.
| Stock | Price | Fair Value | vs Fair Value | Compare |
|---|---|---|---|---|
| Postal Savings Bank of China Co 601658 | ¥5.53 | ¥7.59 | +37% | vs ATLO |
| China Merchants Bank Co 600036 | ¥42.88 | ¥52.73 | +23% | vs ATLO |
| BNP Paribas SA BNP | €91.93 | €106.01 | +15% | vs ATLO |
| Intesa Sanpaolo S.p.A ISP | €6.18 | €4.49 | −27% | vs ATLO |
| State Bank of India SBIN | ₹1,019 | ₹736.65 | −28% | vs ATLO |
| UniCredit S.p.A UCG | €76.80 | €50.44 | −34% | vs ATLO |
| Mizuho Financial Group MFG | $9.40 | $5.89 | −37% | vs ATLO |
| DBS Group D05 | 69.72 SGD | 40.39 SGD | −42% | vs ATLO |
| HDFC Bank Limited HDFCBANK | ₹788.25 | ₹406.39 | −48% | vs ATLO |
| ICICI Bank Limited ICICIBANK | ₹1,571 | ₹615.63 | −61% | vs ATLO |
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Key figures of Ames National Corporation
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