Short Interest in Ames National Co. (NASDAQ:ATLO) Drops By 7.4%

Ames National Co. (NASDAQ:ATLO) saw a large decrease in short interest in the month of October. As of October 31st, there was short interest totalling 61,200 shares, a decrease of 7.4% from the September 30th total of 66,100 shares. Currently, 0.7% of the shares of the stock are short sold. Based on an average daily trading volume, of 9,700 shares, the short-interest ratio is presently 6.3 days.

A number of hedge funds have recently made changes to their positions in ATLO. Charles Schwab Investment Management Inc. lifted its stake in Ames National by 7.6% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 20,803 shares of the financial services provider’s stock worth $564,000 after purchasing an additional 1,474 shares in the last quarter. Renaissance Technologies LLC lifted its stake in Ames National by 5.9% in the 2nd quarter. Renaissance Technologies LLC now owns 115,021 shares of the financial services provider’s stock worth $3,117,000 after purchasing an additional 6,421 shares in the last quarter. Northern Trust Corp lifted its stake in Ames National by 3.2% in the 2nd quarter. Northern Trust Corp now owns 106,841 shares of the financial services provider’s stock worth $2,896,000 after purchasing an additional 3,316 shares in the last quarter. US Bancorp DE lifted its stake in Ames National by 3.0% in the 2nd quarter. US Bancorp DE now owns 14,533 shares of the financial services provider’s stock worth $394,000 after purchasing an additional 418 shares in the last quarter. Finally, BlackRock Inc. lifted its stake in Ames National by 1.0% in the 2nd quarter. BlackRock Inc. now owns 571,383 shares of the financial services provider’s stock worth $15,486,000 after purchasing an additional 5,531 shares in the last quarter. Institutional investors and hedge funds own 24.34% of the company’s stock.

ATLO has been the subject of several recent analyst reports. ValuEngine raised shares of Ames National from a “sell” rating to a “hold” rating in a report on Saturday, October 19th. BidaskClub downgraded shares of Ames National from a “buy” rating to a “hold” rating in a report on Thursday, October 17th.

Shares of ATLO stock opened at $28.12 on Tuesday. The stock has a market cap of $253.44 million, a P/E ratio of 14.85 and a beta of 0.57. Ames National has a 52 week low of $24.47 and a 52 week high of $29.46. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.03. The company’s fifty day simple moving average is $27.67 and its two-hundred day simple moving average is $27.21.

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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