Bank of New York Mellon Corp Acquires 1,737 Shares of Ames National Co. (NASDAQ:ATLO)

Bank of New York Mellon Corp raised its position in shares of Ames National Co. (NASDAQ:ATLO) by 4.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 37,235 shares of the financial services provider’s stock after buying an additional 1,737 shares during the period. Bank of New York Mellon Corp owned about 0.41% of Ames National worth $763,000 as of its most recent filing with the Securities and Exchange Commission.

Separately, Vanguard Group Inc. lifted its holdings in shares of Ames National by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 489,890 shares of the financial services provider’s stock valued at $9,886,000 after purchasing an additional 2,965 shares in the last quarter. 26.47% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded Ames National from a “sell” rating to a “hold” rating in a research note on Thursday, June 27th.

Ames National Stock Performance

ATLO opened at $18.91 on Monday. The company has a market capitalization of $170.00 million, a P/E ratio of 17.04 and a beta of 0.56. The stock has a fifty day moving average of $19.20 and a 200-day moving average of $19.70. Ames National Co. has a fifty-two week low of $15.01 and a fifty-two week high of $22.50.

Ames National (NASDAQ:ATLO) last issued its earnings results on Friday, August 9th. The financial services provider reported $0.24 EPS for the quarter. The firm had revenue of $13.49 million during the quarter. Ames National had a return on equity of 5.92% and a net margin of 10.77%.

Ames National Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, November 1st will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, November 1st. This represents a $0.80 annualized dividend and a dividend yield of 4.23%. Ames National’s payout ratio is 72.07%.

Ames National Company Profile

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.