Ames National (NASDAQ:ATLO) Coverage Initiated at StockNews.com

StockNews.com started coverage on shares of Ames National (NASDAQ:ATLO – Get Rating) in a report released on Thursday. The brokerage set a “sell” rating on the financial services provider’s stock.

Ames National Price Performance

Shares of NASDAQ ATLO opened at $18.00 on Thursday. The company has a market capitalization of $161.82 million, a P/E ratio of 9.33 and a beta of 0.52. The company has a 50 day simple moving average of $19.89 and a 200-day simple moving average of $22.27. Ames National has a 1 year low of $17.74 and a 1 year high of $25.00.

Hedge Funds Weigh In On Ames National

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. UBS Group AG grew its holdings in Ames National by 45.0% in the second quarter. UBS Group AG now owns 1,552 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 482 shares during the period. Royal Bank of Canada increased its position in shares of Ames National by 6.8% in the 3rd quarter. Royal Bank of Canada now owns 12,600 shares of the financial services provider’s stock worth $280,000 after purchasing an additional 800 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of Ames National by 1.9% in the 3rd quarter. Bank of New York Mellon Corp now owns 49,453 shares of the financial services provider’s stock valued at $1,097,000 after purchasing an additional 899 shares in the last quarter. BlackRock Inc. raised its stake in Ames National by 0.8% during the first quarter. BlackRock Inc. now owns 124,816 shares of the financial services provider’s stock valued at $2,596,000 after buying an additional 957 shares in the last quarter. Finally, State Street Corp increased its holdings in shares of Ames National by 3.5% in the 2nd quarter. State Street Corp now owns 32,412 shares of the financial services provider’s stock valued at $719,000 after acquiring an additional 1,100 shares during the last quarter. Institutional investors and hedge funds own 21.20% of the company’s stock.

Ames National Company Profile

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Ames National Corp. is a bank holding company, which engages in the provision of banking services through its subsidiaries. Its activities include personal, business, agricultural and commercial lending, management of the investment securities portfolio, deposit account services, and wealth management services.