BidaskClub Upgrades Ames National (ATLO) to Strong-Buy

BidaskClub upgraded shares of Ames National (NASDAQ:ATLO) from a buy rating to a strong-buy rating in a report published on Tuesday, BidAskClub reports.

Separately, ValuEngine upgraded Ames National from a sell rating to a hold rating in a research note on Tuesday, April 30th.

ATLO opened at $27.39 on Tuesday. The firm has a market capitalization of $254.45 million, a P/E ratio of 15.59 and a beta of 0.57. Ames National has a 1 year low of $24.47 and a 1 year high of $32.15. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.01.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Thursday, August 1st will be issued a $0.24 dividend. The ex-dividend date of this dividend is Wednesday, July 31st. This represents a $0.96 annualized dividend and a yield of 3.50%.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Dimensional Fund Advisors LP increased its position in shares of Ames National by 40.5% during the third quarter. Dimensional Fund Advisors LP now owns 79,967 shares of the financial services provider’s stock valued at $2,179,000 after acquiring an additional 23,038 shares during the last quarter. BlackRock Inc. boosted its stake in Ames National by 2.0% during the fourth quarter. BlackRock Inc. now owns 580,285 shares of the financial services provider’s stock valued at $14,752,000 after buying an additional 11,627 shares during the period. Northwest Wealth Management LLC bought a new stake in Ames National during the first quarter valued at $41,000. Bank of New York Mellon Corp boosted its stake in Ames National by 8.2% during the fourth quarter. Bank of New York Mellon Corp now owns 56,753 shares of the financial services provider’s stock valued at $1,443,000 after buying an additional 4,281 shares during the period. Finally, MetLife Investment Advisors LLC bought a new stake in Ames National during the fourth quarter valued at $110,000. 23.87% of the stock is owned by hedge funds and other institutional investors.

About Ames National

Ames National Corporation operates as a multi-bank holding company that provides banking services primarily in the central, north-central, and south-central Iowa counties of Boone, Clarke, Hancock, Marshall, Polk, and Story. The company offers a range of deposits, including checking, savings, and accounts; and time deposits of various types, including money market accounts and certificates of deposit.

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