Ames National (NASDAQ:ATLO) Upgraded to “Hold” at ValuEngine

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Ames National (NASDAQ:ATLO) was upgraded by stock analysts at ValuEngine from a “sell” rating to a “hold” rating in a note issued to investors on Friday, ValuEngine reports.

Separately, BidaskClub raised Ames National from a “sell” rating to a “hold” rating in a research note on Tuesday.

ATLO stock traded down $0.15 during trading on Friday, hitting $26.87. The company had a trading volume of 13,200 shares, compared to its average volume of 10,977. The company has a fifty day moving average price of $27.03 and a two-hundred day moving average price of $27.39. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.03. The company has a market cap of $247.56 million, a P/E ratio of 14.52 and a beta of 0.57. Ames National has a fifty-two week low of $25.40 and a fifty-two week high of $29.46.

Hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in Ames National by 0.8% in the 2nd quarter. Vanguard Group Inc. now owns 142,814 shares of the financial services provider’s stock valued at $3,870,000 after purchasing an additional 1,088 shares during the last quarter. Rhumbline Advisers raised its position in Ames National by 8.9% in the 3rd quarter. Rhumbline Advisers now owns 13,888 shares of the financial services provider’s stock valued at $397,000 after purchasing an additional 1,132 shares during the last quarter. California Public Employees Retirement System raised its position in Ames National by 3.3% in the 3rd quarter. California Public Employees Retirement System now owns 25,339 shares of the financial services provider’s stock valued at $725,000 after purchasing an additional 801 shares during the last quarter. Russell Investments Group Ltd. bought a new position in Ames National in the 3rd quarter valued at $230,000. Finally, State Street Corp raised its position in Ames National by 2.6% in the 3rd quarter. State Street Corp now owns 178,702 shares of the financial services provider’s stock valued at $5,113,000 after purchasing an additional 4,566 shares during the last quarter. 24.85% 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 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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To view ValuEngine’s full report, visit ValuEngine’s official website.

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