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

Ames National Co. (NASDAQ:ATLO) was the recipient of a large decline in short interest in the month of October. As of October 15th, there was short interest totalling 58,700 shares, a decline of 7.3% from the September 30th total of 63,300 shares. Approximately 0.7% of the company’s shares are sold short. Based on an average daily trading volume, of 15,100 shares, the days-to-cover ratio is presently 3.9 days.

Ames National Stock Down 0.9 %

ATLO stock opened at $17.00 on Friday. The firm’s 50 day moving average price is $18.04 and its 200-day moving average price is $19.31. Ames National has a one year low of $15.69 and a one year high of $22.50.

Ames National (NASDAQ:ATLO) last posted 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 firm 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 paid a $0.20 dividend. The ex-dividend date of this dividend is Friday, November 1st. This represents a $0.80 annualized dividend and a dividend yield of 4.71%. Ames National’s dividend payout ratio (DPR) is 100.93%.

Hedge Funds Weigh In On Ames National

Several institutional investors have recently modified their holdings of ATLO. BNP Paribas Financial Markets grew its stake in shares of Ames National by 75.7% in the first quarter. BNP Paribas Financial Markets now owns 4,251 shares of the financial services provider’s stock worth $86,000 after acquiring an additional 1,832 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of Ames National by 4.9% in the second quarter. Bank of New York Mellon Corp now owns 37,235 shares of the financial services provider’s stock worth $763,000 after acquiring an additional 1,737 shares in the last quarter. Choreo LLC acquired a new position in shares of Ames National in the second quarter worth $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 acquiring an additional 2,965 shares in the last quarter. Institutional investors and hedge funds own 26.47% of the company’s stock.

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.