ValuEngine Upgrades Ames National (ATLO) to “Hold”

Ames National (NASDAQ:ATLO) was upgraded by equities researchers at ValuEngine from a “sell” rating to a “hold” rating in a report issued on Wednesday.

Separately, BidaskClub cut shares of Ames National from a “buy” rating to a “hold” rating in a report on Wednesday, July 18th.

Shares of NASDAQ ATLO opened at $27.32 on Wednesday. Ames National has a 52-week low of $26.00 and a 52-week high of $32.15. The stock has a market capitalization of $262.57 million, a price-to-earnings ratio of 16.30 and a beta of 0.66.

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

In other news, insider Curtis A. Hoff purchased 1,000 shares of the company’s stock in a transaction on Friday, September 14th. The shares were bought at an average price of $27.25 per share, for a total transaction of $27,250.00. Following the completion of the purchase, 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 Securities & Exchange Commission, which is available through this link. Insiders acquired 2,224 shares of company stock worth $60,961 in the last 90 days. 8.36% of the stock is owned by company insiders.

Several large investors have recently made changes to their positions in ATLO. Dimensional Fund Advisors LP increased its stake in shares of Ames National by 62.4% in the first quarter. Dimensional Fund Advisors LP now owns 37,653 shares of the financial services provider’s stock valued at $1,035,000 after purchasing an additional 14,464 shares during the period. Schwab Charles Investment Management Inc. increased its stake in shares of Ames National by 25.9% in the second quarter. Schwab Charles Investment Management Inc. now owns 19,516 shares of the financial services provider’s stock valued at $603,000 after purchasing an additional 4,016 shares during the period. Royce & Associates LP increased its stake 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 valued at $15,563,000 after purchasing an additional 23,409 shares during the period. BlackRock Inc. increased its stake 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 valued at $17,448,000 after purchasing an additional 35,521 shares during the period. Finally, Renaissance Technologies LLC increased its stake 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 valued at $2,999,000 after purchasing an additional 5,600 shares during the period. Institutional investors own 24.02% 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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To view ValuEngine’s full report, visit ValuEngine’s official website.

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