Ames National (NASDAQ:ATLO) Rating Lowered to Hold at BidaskClub

Ames National (NASDAQ:ATLO) was downgraded by equities researchers at BidaskClub from a “buy” rating to a “hold” rating in a note issued to investors on Friday, March 22nd, BidAskClub reports.

Separately, ValuEngine upgraded Ames National from a “sell” rating to a “hold” rating in a research report on Wednesday, January 2nd.

NASDAQ:ATLO traded down $0.02 during mid-day trading on Friday, hitting $26.75. 6,983 shares of the company traded hands, compared to its average volume of 9,076. Ames National has a one year low of $24.47 and a one year high of $32.15. The firm has a market capitalization of $243.18 million, a PE ratio of 14.70 and a beta of 0.57. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.76 and a current ratio of 0.76.

Hedge funds have recently modified their holdings of the business. Ramsey Quantitative Systems raised its position in Ames National by 208.1% during the fourth quarter. Ramsey Quantitative Systems now owns 1,377 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 930 shares during the period. Northwest Wealth Management LLC bought a new position in shares of Ames National during the first quarter valued at approximately $41,000. Metropolitan Life Insurance Co. NY bought a new position in shares of Ames National during the fourth quarter valued at approximately $80,000. MetLife Investment Advisors LLC bought a new position in shares of Ames National during the fourth quarter valued at approximately $110,000. Finally, Stadium Capital Management LLC bought a new position in shares of Ames National during the third quarter valued at approximately $233,000. Institutional investors and hedge funds own 23.86% of the company’s stock.

Ames National Company Profile

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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