AmeriServ Financial (NASDAQ:ASRV) Stock Price Crosses Above Two Hundred Day Moving Average - Here's What Happened

Key Points

• AmeriServ Financial shares crossed above their 200-day moving average, reaching $4.47 compared with the $3.73 average, on trading volume of 53,298 shares.
• Weiss Ratings upgraded the stock from “buy (b-)” to “buy (b),” while MarketBeat reported an overall “Buy” rating. The company recently posted quarterly EPS of $0.16 on $15.90 million in revenue.
• AmeriServ declared a quarterly dividend of $0.03 per share, equivalent to an annualized $0.12 payout and a 2.7% yield. Institutional investors own 31.52% of the company, and Empowered Funds increased its position by 4.5%.

AmeriServ Financial Inc. (NASDAQ:ASRV - Get Free Report) shares passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $3.73 and traded as high as $4.47. AmeriServ Financial shares last traded at $4.47, with a volume of 53,298 shares trading hands.

Wall Street Analyst Weigh In

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, the company currently has an average rating of "Buy".

AmeriServ Financial Price Performance

The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.58. The company has a fifty day moving average price of $3.87 and a two-hundred day moving average price of $3.73. The firm has a market cap of $75.81 million, a P/E ratio of 8.76 and a beta of 0.44.

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

AmeriServ Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 17th. Stockholders of record on Monday, August 3rd will be given a dividend of $0.03 per share. The ex-dividend date of this dividend is Monday, August 3rd. This represents a $0.12 annualized dividend and a dividend yield of 2.7%. AmeriServ Financial's dividend payout ratio is currently 23.53%.

Hedge Funds Weigh In On AmeriServ Financial

A hedge fund recently raised its position in AmeriServ Financial stock. Empowered Funds LLC increased its position in shares of AmeriServ Financial Inc. (NASDAQ:ASRV - Free Report) by 4.5% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 101,212 shares of the financial services provider's stock after buying an additional 4,396 shares during the quarter. Empowered Funds LLC owned 0.61% of AmeriServ Financial worth $246,000 as of its most recent SEC filing. 31.52% of the stock is owned by institutional investors.

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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