Ames National (ATLO) Downgraded by BidaskClub

BidaskClub lowered shares of Ames National (NASDAQ:ATLO) from a buy rating to a hold rating in a research report report published on Wednesday morning.

Separately, ValuEngine downgraded shares of Ames National from a hold rating to a sell rating in a report on Tuesday, October 2nd.

NASDAQ ATLO opened at $27.46 on Wednesday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.74 and a current ratio of 0.74. Ames National has a 12 month low of $26.00 and a 12 month high of $32.15. The company has a market capitalization of $255.68 million, a P/E ratio of 15.34 and a beta of 0.58.

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 15th. Investors of record on Friday, February 1st will be issued a $0.23 dividend. The ex-dividend date of this dividend is Thursday, January 31st. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.35%.

In other Ames National news, insider Curtis A. Hoff bought 1,000 shares of the company’s stock in a transaction that occurred on Friday, September 14th. The shares were acquired at an average cost of $27.25 per share, for a total transaction of $27,250.00. Following the acquisition, the insider now directly owns 6,000 shares of the company’s stock, valued at $163,500. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders purchased a total of 2,324 shares of company stock worth $63,686 over the last quarter. Insiders own 8.36% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ATLO. Schwab Charles Investment Management Inc. raised its holdings in shares of Ames National by 25.9% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 19,516 shares of the financial services provider’s stock worth $603,000 after purchasing an additional 4,016 shares in the last quarter. Royce & Associates LP increased its position in shares of Ames National by 4.9% in the second quarter. Royce & Associates LP now owns 504,485 shares of the financial services provider’s stock worth $15,563,000 after acquiring an additional 23,409 shares in the last quarter. BlackRock Inc. increased its position in shares of Ames National by 6.7% in the second quarter. BlackRock Inc. now owns 565,580 shares of the financial services provider’s stock worth $17,448,000 after acquiring an additional 35,521 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Ames National by 51.2% in the second quarter. Dimensional Fund Advisors LP now owns 56,929 shares of the financial services provider’s stock worth $1,756,000 after acquiring an additional 19,276 shares in the last quarter. Finally, Renaissance Technologies LLC increased its position in shares of Ames National by 6.1% in the second quarter. Renaissance Technologies LLC now owns 97,200 shares of the financial services provider’s stock worth $2,999,000 after acquiring an additional 5,600 shares in the last quarter. Institutional investors and hedge funds own 25.13% of the company’s stock.

About Ames National

Ames National Corporation operates as a multi-bank holding company that provides banking services primarily in the central and north central Iowa counties of Boone, Hancock, Marshall, Polk, and Story. The company offers a range of deposits, including checking accounts, savings accounts, time deposits, money market accounts, demand deposits, and certificates of deposit; and loans, such as short-term and medium-term commercial and agricultural real estate loans, residential real estate loans, equipment loans, vehicle loans, personal loans and lines of credit, home improvement loans, and mortgage loans for sale into the secondary market, as well as agricultural and business operating loans and lines of credit.

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