AmeriServ Financial Inc. (NASDAQ:ASRV) Short Interest Update

Key Points

• Short interest surged 155.5% to 206,424 shares as of July 31, representing about 1.3% of AmeriServ Financial’s outstanding stock and 8.2 days to cover.
• Institutional ownership stands at 31.52%, with BlackRock initiating a roughly $587,000 position while Empowered Funds and Geode Capital modestly increased their holdings.
• ASRV recently reported $0.16 quarterly EPS on $15.90 million in revenue and announced a $0.03 quarterly dividend, equating to a 2.4% yield; Weiss Ratings upgraded the stock to “buy (b).”

AmeriServ Financial Inc. (NASDAQ:ASRV - Get Free Report) was the target of a significant growth in short interest in the month of July. As of July 31st, there was short interest totaling 206,424 shares, a growth of 155.5% from the July 15th total of 80,806 shares. Approximately 1.3% of the company's stock are short sold. Based on an average daily volume of 25,128 shares, the days-to-cover ratio is currently 8.2 days.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in ASRV. BlackRock Inc. bought a new position in AmeriServ Financial during the second quarter valued at approximately $587,000. Empowered Funds LLC boosted 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 worth $246,000 after acquiring an additional 4,396 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in 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 purchasing an additional 2,830 shares during the last quarter. Institutional investors own 31.52% of the company's stock.

AmeriServ Financial Stock Up 0.8%

ASRV opened at $5.01 on Friday. The company's 50-day moving average price is $4.09 and its two-hundred day moving average price is $3.86. AmeriServ Financial has a twelve month low of $2.80 and a twelve month high of $5.19. The stock has a market cap of $84.97 million, a price-to-earnings ratio of 9.82 and a beta of 0.43. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.58.

AmeriServ Financial (NASDAQ:ASRV - Get Free Report) last issued its earnings results on Tuesday, July 21st. The financial services provider reported $0.16 earnings per share (EPS) for the quarter. The firm had revenue of $15.90 million for the quarter. AmeriServ Financial had a return on equity of 7.21% and a net margin of 9.51%.

AmeriServ Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, August 17th. Shareholders of record on Monday, August 3rd will be given a dividend of $0.03 per share. The ex-dividend date is Monday, August 3rd. This represents a $0.12 annualized dividend and a dividend yield of 2.4%. AmeriServ Financial's dividend payout ratio is currently 23.53%.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings raised AmeriServ Financial from a "buy (b-)" rating to a "buy (b)" rating in a research note on Wednesday, May 20th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, AmeriServ Financial has an average rating of "Buy".

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.

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