BidaskClub Upgrades Ames National (NASDAQ:ATLO) to “Hold”

Ames National (NASDAQ:ATLO) was upgraded by research analysts at BidaskClub from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday, BidAskClub reports.

Separately, ValuEngine upgraded Ames National from a “sell” rating to a “hold” rating in a report on Saturday, October 19th.

NASDAQ:ATLO opened at $27.40 on Wednesday. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.03. Ames National has a 12-month low of $24.47 and a 12-month high of $29.46. The stock has a 50-day moving average price of $27.80 and a 200 day moving average price of $27.41. The stock has a market capitalization of $252.71 million, a P/E ratio of 14.70 and a beta of 0.59.

Ames National (NASDAQ:ATLO) last released its quarterly earnings results on Wednesday, November 6th. The financial services provider reported $0.44 earnings per share for the quarter. The business had revenue of $12.93 million during the quarter. Ames National had a return on equity of 9.50% and a net margin of 27.36%.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ATLO. Russell Investments Group Ltd. purchased a new position in Ames National during the 3rd quarter valued at approximately $230,000. Renaissance Technologies LLC grew its holdings in Ames National by 5.9% during the 2nd quarter. Renaissance Technologies LLC now owns 115,021 shares of the financial services provider’s stock valued at $3,117,000 after buying an additional 6,421 shares in the last quarter. BlackRock Inc. grew its holdings in Ames National by 1.0% during the 2nd quarter. BlackRock Inc. now owns 571,383 shares of the financial services provider’s stock valued at $15,486,000 after buying an additional 5,531 shares in the last quarter. State Street Corp grew its holdings in Ames National by 2.6% during the 3rd quarter. State Street Corp now owns 178,702 shares of the financial services provider’s stock valued at $5,113,000 after buying an additional 4,566 shares in the last quarter. Finally, Northern Trust Corp grew its holdings in Ames National by 3.2% during the 2nd quarter. Northern Trust Corp now owns 106,841 shares of the financial services provider’s stock valued at $2,896,000 after buying an additional 3,316 shares in the last quarter. Institutional investors and hedge funds own 24.79% 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, 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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