Ames National (ATLO) Downgraded by BidaskClub to “Buy”

BidaskClub downgraded shares of Ames National (NASDAQ:ATLO) from a strong-buy rating to a buy rating in a research note issued to investors on Thursday morning.

Separately, ValuEngine upgraded shares of Ames National from a sell rating to a hold rating in a research report on Wednesday, October 31st.

Shares of NASDAQ ATLO traded up $0.44 during trading on Thursday, hitting $27.01. 3,030 shares of the company were exchanged, compared to its average volume of 8,555. The firm has a market capitalization of $253.26 million, a P/E ratio of 15.72 and a beta of 0.58. Ames National has a 1 year low of $26.00 and a 1 year high of $32.15.

Ames National (NASDAQ:ATLO) last issued its earnings results on Tuesday, August 7th. The financial services provider reported $0.46 EPS for the quarter. The company had revenue of $12.20 million for the quarter. Ames National had a net margin of 27.38% and a return on equity of 9.52%.

In related news, insider Curtis A. Hoff bought 1,000 shares of the firm’s stock in a transaction on Friday, September 14th. The shares were bought at an average cost of $27.25 per share, for a total transaction of $27,250.00. Following the transaction, the insider now owns 6,000 shares of the company’s stock, valued at $163,500. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders have acquired a total of 2,224 shares of company stock worth $60,961 over the last 90 days. Insiders own 8.36% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the business. Schwab Charles Investment Management Inc. boosted its position in shares of Ames National by 25.9% during 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. California Public Employees Retirement System raised its stake in shares of Ames National by 9.5% during the 2nd quarter. California Public Employees Retirement System now owns 24,538 shares of the financial services provider’s stock worth $757,000 after buying an additional 2,138 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Ames National by 62.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 37,653 shares of the financial services provider’s stock worth $1,035,000 after buying an additional 14,464 shares during the last quarter. Renaissance Technologies LLC raised its stake in shares of Ames National by 6.1% during the 2nd quarter. Renaissance Technologies LLC now owns 97,200 shares of the financial services provider’s stock worth $2,999,000 after buying an additional 5,600 shares during the last quarter. Finally, Northern Trust Corp raised its stake in shares of Ames National by 3.0% during the 2nd quarter. Northern Trust Corp now owns 102,424 shares of the financial services provider’s stock worth $3,159,000 after buying an additional 2,985 shares during the last quarter. Institutional investors own 24.02% 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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