Ames National Co. (NASDAQ:ATLO) Sees Large Drop in Short Interest

Ames National Co. (NASDAQ:ATLO) was the target of a large decrease in short interest during the month of September. As of September 15th, there was short interest totalling 80,700 shares, a decrease of 12.3% from the August 31st total of 92,000 shares. Based on an average daily trading volume, of 17,200 shares, the days-to-cover ratio is presently 4.7 days. Approximately 0.9% of the company’s stock are short sold.

Institutional Investors Weigh In On Ames National

A number of hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. increased its holdings in Ames National by 0.6% during the first quarter. Vanguard Group Inc. now owns 489,890 shares of the financial services provider’s stock worth $9,886,000 after buying an additional 2,965 shares during the last quarter. Choreo LLC bought a new position in shares of Ames National during the 2nd quarter valued at approximately $807,000. Bank of New York Mellon Corp increased its stake in shares of Ames National by 4.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 37,235 shares of the financial services provider’s stock worth $763,000 after purchasing an additional 1,737 shares during the last quarter. Finally, BNP Paribas Financial Markets raised its holdings in shares of Ames National by 75.7% in the 1st quarter. BNP Paribas Financial Markets now owns 4,251 shares of the financial services provider’s stock worth $86,000 after purchasing an additional 1,832 shares during the period. 26.47% of the stock is currently owned by institutional investors.

Ames National Stock Up 1.6 %

Ames National stock traded up $0.29 during midday trading on Friday, hitting $18.50. 7,675 shares of the stock were exchanged, compared to its average volume of 14,167. Ames National has a 52-week low of $15.01 and a 52-week high of $22.50. The business’s 50-day moving average price is $18.91 and its 200-day moving average price is $19.68.

Ames National (NASDAQ:ATLO) last released its earnings results on Friday, August 9th. The financial services provider reported $0.24 earnings per share (EPS) for the quarter. The company had revenue of $13.49 million during the quarter. Ames National had a return on equity of 5.92% and a net margin of 10.77%.

Ames National Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 1st will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 4.32%. The ex-dividend date of this dividend is Friday, November 1st. Ames National’s dividend payout ratio is presently 97.30%.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised shares of Ames National from a “sell” rating to a “hold” rating in a report on Thursday, June 27th.

About Ames National

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