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

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

Wall Street Analyst Weigh In

Separately, Weiss Ratings raised AmeriServ Financial from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, March 9th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy”.

AmeriServ Financial Price Performance

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

AmeriServ Financial (NASDAQ:ASRV) last announced its quarterly earnings data on Tuesday, January 20th. The financial services provider reported $0.09 earnings per share for the quarter. AmeriServ Financial had a net margin of 6.35% and a return on equity of 4.93%. The business had revenue of $15.30 million for the quarter.

AmeriServ Financial Dividend Announcement

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

Hedge Funds Weigh In On AmeriServ Financial

Several large investors have recently bought and sold shares of ASRV. Empowered Funds LLC lifted its holdings in AmeriServ Financial by 4.5% in the first quarter. Empowered Funds LLC now owns 101,212 shares of the financial services provider’s stock valued at $246,000 after buying an additional 4,396 shares during the period. Argyle Capital Management LLC acquired a new position in AmeriServ Financial in the third quarter valued at approximately $275,000. Finally, Geode Capital Management LLC lifted its holdings in AmeriServ Financial by 2.0% in the fourth quarter. Geode Capital Management LLC now owns 142,798 shares of the financial services provider’s stock valued at $456,000 after buying an additional 2,830 shares during the period. 31.52% of the stock is currently owned by institutional investors and hedge funds.

About AmeriServ Financial

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.