Oppenheimer & Close LLC grew its stake in shares of AmeriServ Financial Inc. (NASDAQ:ASRV) by 190.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 63,312 shares of the financial services provider’s stock after acquiring an additional 41,497 shares during the quarter. Oppenheimer & Close LLC owned about 0.34% of AmeriServ Financial worth $262,000 at the end of the most recent quarter.
Separately, Municipal Employees Retirement System of Michigan acquired a new position in shares of AmeriServ Financial during the 2nd quarter valued at about $683,000. Institutional investors and hedge funds own 33.55% of the company’s stock.
AmeriServ Financial Inc. (NASDAQ:ASRV) traded down 1.25% on Monday, hitting $3.95. 6,307 shares of the stock were exchanged. AmeriServ Financial Inc. has a 52 week low of $3.10 and a 52 week high of $4.25. The company has a market cap of $72.87 million, a PE ratio of 15.02 and a beta of 0.15. The company’s 50-day moving average is $3.95 and its 200-day moving average is $3.95.
AmeriServ Financial (NASDAQ:ASRV) last released its quarterly earnings results on Tuesday, July 18th. The financial services provider reported $0.07 earnings per share for the quarter. AmeriServ Financial had a return on equity of 5.11% and a net margin of 8.59%. The business had revenue of $12.65 million during the quarter. On average, analysts predict that AmeriServ Financial Inc. will post ($0.02) earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 21st. Investors of record on Monday, August 7th were paid a $0.015 dividend. This represents a $0.06 annualized dividend and a yield of 1.50%. The ex-dividend date of this dividend was Thursday, August 3rd. AmeriServ Financial’s dividend payout ratio is currently 23.08%.
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In related news, insider Craig G. Ford sold 40,000 shares of the stock in a transaction dated Thursday, August 31st. The stock was sold at an average price of $3.86, for a total value of $154,400.00. Following the completion of the sale, the insider now directly owns 72,655 shares of the company’s stock, valued at approximately $280,448.30. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Craig G. Ford acquired 9,000 shares of AmeriServ Financial stock in a transaction that occurred on Monday, September 11th. The stock was acquired at an average cost of $3.98 per share, with a total value of $35,820.00. Following the completion of the purchase, the insider now owns 61,655 shares in the company, valued at approximately $245,386.90. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 10,176 shares of company stock valued at $40,360. Company insiders own 9.70% of the company’s stock.
About AmeriServ Financial
AmeriServ Financial, Inc is a bank holding company of AmeriServ Financial Bank (the Bank). The Company’s principal activities consist of owning and operating its three subsidiary entities. The Company’s segments include retail banking, commercial banking, trust and investment/parent. Its Retail banking segment includes the deposit-gathering branch franchise and lending to both individuals and small businesses.
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