Wells Fargo & Company MN raised its position in shares of Ames National Co. (NASDAQ:ATLO) by 64.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,233 shares of the financial services provider’s stock after buying an additional 3,625 shares during the period. Wells Fargo & Company MN owned about 0.10% of Ames National worth $277,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors also recently modified their holdings of the company. The Manufacturers Life Insurance Company boosted its position 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 worth $103,000 after purchasing an additional 34 shares in 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 worth $4,559,000 after acquiring an additional 11,003 shares during the period. 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 worth $224,000 after acquiring an additional 756 shares during the period. Dimensional Fund Advisors LP acquired a new stake in shares of Ames National during the second quarter worth $206,000. Finally, Vanguard Group Inc. raised its holdings in shares of Ames National by 8.3% during the second quarter. Vanguard Group Inc. now owns 357,408 shares of the financial services provider’s stock worth $10,937,000 after acquiring an additional 27,338 shares during the period. 23.55% of the stock is owned by institutional investors and hedge funds.
Separately, BidaskClub lowered shares of Ames National from a “sell” rating to a “strong sell” rating in a report on Friday, January 26th.
In other Ames National news, insider Curtis A. Hoff purchased 1,000 shares of the stock in a transaction on Monday, February 5th. The shares were purchased at an average cost of $27.60 per share, for a total transaction of $27,600.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 8.94% of the stock is currently owned by insiders.
Shares of Ames National Co. (NASDAQ:ATLO) traded down $0.25 during mid-day trading on Wednesday, reaching $26.60. 3,000 shares of the company’s stock traded hands, compared to its average volume of 5,407. Ames National Co. has a 12-month low of $26.25 and a 12-month high of $33.00. The firm has a market cap of $250.00, a price-to-earnings ratio of 16.78 and a beta of 0.70.
Ames National declared that its board has authorized a stock repurchase program on Thursday, November 9th that permits the company to buyback 100,000 outstanding shares. This buyback authorization permits the financial services provider to purchase shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.
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Ames National Company Profile
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.
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