State Street Corp Purchases 11,003 Shares of Ames National Co. (ATLO)

State Street Corp boosted its position in Ames National Co. (NASDAQ:ATLO) by 8.0% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 149,057 shares of the financial services provider’s stock after purchasing an additional 11,003 shares during the quarter. State Street Corp owned about 1.60% of Ames National worth $4,559,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the stock. Wells Fargo & Company MN lifted its position in Ames National by 3.0% in the 2nd quarter. Wells Fargo & Company MN now owns 5,608 shares of the financial services provider’s stock valued at $172,000 after purchasing an additional 161 shares during the last quarter. Alliancebernstein L.P. lifted its position in Ames National by 2.6% in the 2nd quarter. Alliancebernstein L.P. now owns 15,610 shares of the financial services provider’s stock valued at $478,000 after purchasing an additional 400 shares during the last quarter. Bank of New York Mellon Corp lifted its position in Ames National by 1.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 35,211 shares of the financial services provider’s stock valued at $1,078,000 after purchasing an additional 529 shares during the last quarter. Voya Investment Management LLC lifted its position in Ames National by 11.5% in the 2nd quarter. Voya Investment Management LLC now owns 7,323 shares of the financial services provider’s stock valued at $224,000 after purchasing an additional 756 shares during the last quarter. Finally, Teachers Advisors LLC increased its stake in Ames National by 7.4% during the 2nd quarter. Teachers Advisors LLC now owns 14,028 shares of the financial services provider’s stock valued at $429,000 after buying an additional 970 shares during the period. Hedge funds and other institutional investors own 23.75% of the company’s stock.

Ames National Co. (NASDAQ ATLO) opened at $28.50 on Thursday. The company has a market cap of $265.83, a PE ratio of 17.84 and a beta of 0.68. Ames National Co. has a 52 week low of $26.60 and a 52 week high of $37.45.

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Thursday, February 1st will be paid a dividend of $0.22 per share. The ex-dividend date of this dividend is Wednesday, January 31st. This represents a $0.88 annualized dividend and a yield of 3.09%. Ames National’s payout ratio is 55.00%.

Ames National declared that its board has approved a stock buyback plan on Thursday, November 9th that authorizes the company to buyback 100,000 outstanding shares. This buyback authorization authorizes the financial services provider to reacquire shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.

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Ames National Company Profile

Ames National Corporation is a bank holding company. The Company operates through banking segment. The Company owns five banking subsidiaries consisting of two national banks and three state-chartered banks. All of its operations are conducted in the State of Iowa and primarily within the central and north central Iowa counties of Boone, Hancock, Marshall, Polk and Story where the Company’s banking subsidiaries are located.

Institutional Ownership by Quarter for Ames National (NASDAQ:ATLO)

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