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

Ames National Co. (NASDAQ:ATLO) was the recipient of a significant decrease in short interest in the month of September. As of September 30th, there was short interest totalling 63,300 shares, a decrease of 21.6% from the September 15th total of 80,700 shares. Approximately 0.7% of the shares of the stock are short sold. Based on an average daily trading volume, of 16,400 shares, the short-interest ratio is currently 3.9 days.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in ATLO. BNP Paribas Financial Markets grew its holdings in shares of Ames National by 75.7% during the 1st quarter. BNP Paribas Financial Markets now owns 4,251 shares of the financial services provider’s stock valued at $86,000 after purchasing an additional 1,832 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of Ames National by 4.9% during the second quarter. Bank of New York Mellon Corp now owns 37,235 shares of the financial services provider’s stock valued at $763,000 after acquiring an additional 1,737 shares during the last quarter. Choreo LLC purchased a new stake in shares of Ames National during the second quarter worth about $807,000. Finally, Vanguard Group Inc. grew its stake in shares of Ames National by 0.6% in the first quarter. Vanguard Group Inc. now owns 489,890 shares of the financial services provider’s stock worth $9,886,000 after purchasing an additional 2,965 shares during the last quarter. Institutional investors own 26.47% of the company’s stock.

Ames National Price Performance

NASDAQ ATLO traded up $0.07 during trading on Monday, reaching $17.77. The company’s stock had a trading volume of 6,537 shares, compared to its average volume of 14,107. The firm has a fifty day moving average of $18.25 and a 200 day moving average of $19.50. Ames National has a one year low of $15.01 and a one year high of $22.50. The stock has a market capitalization of $159.75 million, a PE ratio of 15.95 and a beta of 0.55.

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

Ames National Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, November 1st will be given a $0.20 dividend. The ex-dividend date is Friday, November 1st. This represents a $0.80 annualized dividend and a yield of 4.50%. Ames National’s dividend payout ratio (DPR) is presently 72.07%.

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of Ames National from a “sell” rating to a “hold” rating in a research note 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.