Insider Buying: Ames National Co. (ATLO) Insider Purchases 1,000 Shares of Stock

Ames National Co. (NASDAQ:ATLO) insider Curtis A. Hoff bought 1,000 shares of the firm’s stock in a transaction on Monday, February 5th. The stock was purchased at an average cost of $27.60 per share, with a total value of $27,600.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Ames National Co. (NASDAQ ATLO) opened at $26.85 on Wednesday. Ames National Co. has a twelve month low of $26.25 and a twelve month high of $33.00. The firm has a market cap of $250.00, a P/E ratio of 16.78 and a beta of 0.70.

Ames National declared that its board has authorized a stock repurchase plan on Thursday, November 9th that authorizes the company to buyback 100,000 shares. This buyback authorization authorizes the financial services provider to repurchase shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s leadership believes its shares are undervalued.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Maltese Capital Management LLC purchased a new position in shares of Ames National during the third quarter valued at approximately $574,000. Wells Fargo & Company MN raised its holdings in shares of Ames National by 64.6% during the third quarter. Wells Fargo & Company MN now owns 9,233 shares of the financial services provider’s stock valued at $277,000 after purchasing an additional 3,625 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of Ames National by 1.0% during the second quarter. The Manufacturers Life Insurance Company now owns 3,365 shares of the financial services provider’s stock valued at $103,000 after purchasing an additional 34 shares during the last quarter. State Street Corp raised its holdings in shares of Ames National by 8.0% during the second quarter. State Street Corp now owns 149,057 shares of the financial services provider’s stock valued at $4,559,000 after purchasing an additional 11,003 shares during the last quarter. Finally, Voya Investment Management LLC raised its holdings in shares of Ames National by 11.5% during the second 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. 23.75% of the stock is owned by hedge funds and other institutional investors.

Separately, BidaskClub cut shares of Ames National from a “sell” rating to a “strong sell” rating in a report on Friday, January 26th.

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About Ames National

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.

Insider Buying and Selling by Quarter for Ames National (NASDAQ:ATLO)

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