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Ames national corp director Benson buys $27,520 in stock

Published 01/11/2024, 16:44
ATLO
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Ames, Iowa—Benson David W., a director at Ames National Corp (NASDAQ:ATLO), has made a significant purchase of the company's stock. According to a recent SEC filing, Benson acquired 1,600 shares of common stock on October 30 at a price of $17.20 per share, totaling approximately $27,520. This transaction increases his total holdings to 9,300 shares, held indirectly through his IRA.

InvestingPro Insights

The recent stock purchase by director Benson David W. comes at an interesting time for Ames National Corp (NASDAQ:ATLO). According to InvestingPro data, the company's stock is currently trading at $17 per share, which is 75.51% of its 52-week high. This could suggest that Benson sees potential value in the stock at current levels.

InvestingPro Tips reveal that Ames National has maintained dividend payments for 27 consecutive years, demonstrating a strong commitment to shareholder returns. This long-standing dividend history may be particularly appealing to income-focused investors like Benson. Additionally, the company's current dividend yield stands at an attractive 4.76%, which could be a factor in the director's decision to increase his stake.

It's worth noting that while Ames National has been profitable over the last twelve months, it suffers from weak gross profit margins, according to another InvestingPro Tip. This could be an area of focus for the company's management and board, including Benson, as they work to improve financial performance.

For investors seeking a more comprehensive analysis, InvestingPro offers 11 additional tips for Ames National Corp, providing deeper insights into the company's financial health and prospects.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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