Royce & Associates LP Has $17.03 Million Position in Ames National Co. (ATLO)
Royce & Associates LP decreased its position in shares of Ames National Co. (NASDAQ:ATLO) by 11.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 570,390 shares of the financial services provider’s stock after selling 75,567 shares during the period. Royce & Associates LP owned about 6.13% of Ames National worth $17,026,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently bought and sold shares of ATLO. Bank of New York Mellon Corp boosted its position in shares of Ames National by 1.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 35,211 shares of the financial services provider’s stock worth $1,078,000 after acquiring an additional 529 shares in the last quarter. John W. Rosenthal Capital Management Inc. acquired a new stake in shares of Ames National during the 2nd quarter worth approximately $621,000. Wells Fargo & Company MN boosted its position in shares of Ames National by 3.0% during the 2nd quarter. Wells Fargo & Company MN now owns 5,608 shares of the financial services provider’s stock worth $172,000 after acquiring an additional 161 shares in the last quarter. Alliancebernstein L.P. boosted its position in shares of Ames National by 2.6% during the 2nd quarter. Alliancebernstein L.P. now owns 15,610 shares of the financial services provider’s stock worth $478,000 after acquiring an additional 400 shares in the last quarter. Finally, Teachers Advisors LLC boosted its position in shares of Ames National by 7.4% during the 2nd quarter. Teachers Advisors LLC now owns 14,028 shares of the financial services provider’s stock worth $429,000 after acquiring an additional 970 shares in the last quarter. Institutional investors and hedge funds own 23.75% of the company’s stock.
Shares of Ames National Co. (NASDAQ:ATLO) opened at $29.00 on Monday. Ames National Co. has a 52-week low of $26.60 and a 52-week high of $37.45. The firm has a market cap of $270.02, a P/E ratio of 18.13 and a beta of 0.68.
Ames National announced that its Board of Directors has authorized a share repurchase plan on Thursday, November 9th that authorizes the company to repurchase 100,000 outstanding shares. This repurchase authorization authorizes the financial services provider to buy shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.
The business also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Thursday, February 1st will be given a $0.22 dividend. The ex-dividend date of this dividend is Wednesday, January 31st. This represents a $0.88 dividend on an annualized basis and a yield of 3.03%. Ames National’s dividend payout ratio is currently 55.00%.
About Ames National
Ames National Corporation is a bank holding company. The Company operates through banking segment. The Company owns five banking subsidiaries consisting of two national banks and three state-chartered banks. All of its operations are conducted in the State of Iowa and primarily within the central and north central Iowa counties of Boone, Hancock, Marshall, Polk and Story where the Company’s banking subsidiaries are located.
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