Ames National Corporation (NASDAQ:ATLO) declared that its board has authorized a stock buyback program, which allows the company to buyback 100,000 outstanding shares on Thursday, November 9th, EventVestor reports. This buyback authorization allows the financial services provider to purchase shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

Ames National Corporation (NASDAQ:ATLO) opened at $28.60 on Tuesday. Ames National Corporation has a 12-month low of $26.60 and a 12-month high of $37.45. The firm has a market capitalization of $266.76, a PE ratio of 17.91 and a beta of 0.68.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Investors of record on Thursday, February 1st will be given a dividend of $0.22 per share. The ex-dividend date of this dividend is Wednesday, January 31st. This represents a $0.88 annualized dividend and a yield of 3.08%. Ames National Corporation’s dividend payout ratio (DPR) is presently 55.00%.

Separately, BidaskClub downgraded Ames National Corporation from a “sell” rating to a “strong sell” rating in a research report on Friday, August 4th.

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About Ames National Corporation

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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