AmeriServ Financial (NASDAQ:ASRV) Trading Up 0.8% – Here’s What Happened

AmeriServ Financial Inc. (NASDAQ:ASRV) rose 0.8% on Wednesday . The stock traded as high as $3.82 and last traded at $3.73. Approximately 24,726 shares were traded during mid-day trading, an increase of 115% from the average daily volume of 11,498 shares. The stock had previously closed at $3.70.

Analysts Set New Price Targets

Separately, Weiss Ratings upgraded shares of AmeriServ Financial from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, March 9th. One investment analyst has rated the stock with a Buy rating, According to MarketBeat, the stock presently has an average rating of “Buy”.

AmeriServ Financial Price Performance

The company has a debt-to-equity ratio of 0.62, a current ratio of 0.87 and a quick ratio of 0.87. The stock has a market cap of $63.28 million, a P/E ratio of 10.97 and a beta of 0.44. The company’s 50 day simple moving average is $3.69 and its 200 day simple moving average is $3.31.

AmeriServ Financial (NASDAQ:ASRV) last issued its earnings results on Tuesday, January 20th. The financial services provider reported $0.09 EPS for the quarter. AmeriServ Financial had a net margin of 6.35% and a return on equity of 4.93%. The firm had revenue of $15.30 million during the quarter.

AmeriServ Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 17th. Stockholders of record on Monday, February 2nd were given a dividend of $0.03 per share. The ex-dividend date of this dividend was Monday, February 2nd. This represents a $0.12 annualized dividend and a dividend yield of 3.2%. AmeriServ Financial’s dividend payout ratio is currently 35.29%.

Institutional Investors Weigh In On AmeriServ Financial

Several large investors have recently made changes to their positions in ASRV. Empowered Funds LLC increased its position in shares of AmeriServ Financial by 4.5% during the first quarter. Empowered Funds LLC now owns 101,212 shares of the financial services provider’s stock worth $246,000 after acquiring an additional 4,396 shares in the last quarter. Argyle Capital Management LLC bought a new stake in shares of AmeriServ Financial during the third quarter worth $275,000. Finally, Geode Capital Management LLC increased its position in shares of AmeriServ Financial by 2.0% during the fourth quarter. Geode Capital Management LLC now owns 142,798 shares of the financial services provider’s stock worth $456,000 after acquiring an additional 2,830 shares in the last quarter. Institutional investors own 31.52% of the company’s stock.

AmeriServ Financial Company Profile

AmeriServ Financial, Inc is a holding company, which engages in the provision of consumer, mortgage and commercial financial products and services through its subsidiary. It operates through the following segments: Community Banking, Wealth Management, and Investment or Parent. The Community Banking segment includes both retail and commercial banking activities. The Wealth Management segment involves in the operations of a Trust Company, West Chester Capital Advisors an investment advisory firm, and Financial Services.