AmeriServ Financial Inc. (NASDAQ:ASRV) Sees Significant Growth in Short Interest

Key Points

• Short interest in AmeriServ (NASDAQ:ASRV) jumped by 36.2% in April to 95,796 shares, equal to about 0.6% of shares outstanding and a short-interest ratio of 7.9 days (average daily volume 12,122).
• Weiss Ratings upgraded the stock from a "hold (c+)" to a "buy (b-)" on March 9, and MarketBeat lists a consensus rating of Buy based on available analyst coverage.
• AmeriServ declared a quarterly dividend of $0.03 per share (annualized $0.12) with an implied yield of ~3.2%, ex-dividend date May 4 and payable May 18.

AmeriServ Financial Inc. (NASDAQ:ASRV - Get Free Report) was the target of a significant increase in short interest during the month of April. As of April 15th, there was short interest totaling 95,796 shares, an increase of 36.2% from the March 31st total of 70,347 shares. Based on an average daily volume of 12,122 shares, the short-interest ratio is currently 7.9 days. Approximately 0.6% of the shares of the company are sold short.

Analyst Ratings Changes

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

AmeriServ Financial Stock Down 4.6%

ASRV stock opened at $3.71 on Tuesday. The stock's fifty day simple moving average is $3.77 and its two-hundred day simple moving average is $3.40. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.62. AmeriServ Financial has a 1-year low of $2.33 and a 1-year high of $4.04. The stock has a market cap of $62.92 million, a P/E ratio of 11.24 and a beta of 0.44.

AmeriServ Financial (NASDAQ:ASRV - Get Free Report) last posted its quarterly earnings data on Tuesday, April 21st. The financial services provider reported $0.11 earnings per share for the quarter. AmeriServ Financial had a return on equity of 4.78% and a net margin of 6.20%.The business had revenue of $14.80 million for the quarter.

AmeriServ Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, May 18th. Stockholders of record on Monday, May 4th will be given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend is Monday, May 4th. AmeriServ Financial's dividend payout ratio is currently 36.36%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Geode Capital Management LLC lifted its position in shares of AmeriServ Financial by 2.0% during the 4th 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 last quarter. Empowered Funds LLC lifted its position in shares of AmeriServ Financial by 4.5% during the 1st 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 last quarter. Finally, Argyle Capital Management LLC purchased a new position in shares of AmeriServ Financial during the 3rd quarter valued at $275,000. Hedge funds and other 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.

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