Short Interest in Ames National Co. (NASDAQ:ATLO) Rises By 24.8%

Ames National Co. (NASDAQ:ATLO) was the recipient of a large growth in short interest during the month of August. As of August 31st, there was short interest totalling 92,000 shares, a growth of 24.8% from the August 15th total of 73,700 shares. Based on an average daily trading volume, of 16,400 shares, the short-interest ratio is presently 5.6 days. Approximately 1.0% of the company’s stock are sold short.

Analyst Ratings Changes

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

Ames National Price Performance

ATLO stock traded up $0.07 during mid-day trading on Friday, reaching $18.50. The company had a trading volume of 16,345 shares, compared to its average volume of 13,873. Ames National has a 52 week low of $15.01 and a 52 week high of $22.50. The company has a market capitalization of $166.32 million, a price-to-earnings ratio of 16.67 and a beta of 0.56. The stock has a 50 day simple moving average of $19.33 and a two-hundred day simple moving average of $19.70.

Ames National (NASDAQ:ATLO) last released its earnings results 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 business had revenue of $13.49 million during the quarter.

Ames National Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 1st will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 4.32%. The ex-dividend date of this dividend is Friday, November 1st. Ames National’s dividend payout ratio is 72.07%.

Institutional Investors Weigh In On Ames National

Several hedge funds have recently bought and sold shares of the stock. Choreo LLC bought a new position in shares of Ames National during the second quarter worth approximately $807,000. Bank of New York Mellon Corp grew its holdings in Ames National by 4.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 37,235 shares of the financial services provider’s stock valued at $763,000 after buying an additional 1,737 shares in the last quarter. Vanguard Group Inc. increased its position in Ames National by 0.6% during the 1st 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 period. Finally, BNP Paribas Financial Markets increased its position in 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 worth $86,000 after buying an additional 1,832 shares during the period. 26.47% of the stock is currently owned by institutional investors and hedge funds.

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.