Worth Watching: What’s AmeriServ Financial, Inc. Upside After Achieving 52-Week High?

Worth Watching: What's AmeriServ Financial, Inc. Upside After Achieving 52 Week High?

The stock of AmeriServ Financial, Inc. (NASDAQ:ASRV) hit a new 52-week high and has $9.24 target or 164.00% above today’s $3.50 share price. The 8 months bullish chart indicates low risk for the $67.14 million company. The 1-year high was reported on Nov, 17 by Barchart.com. If the $9.24 price target is reached, the company will be worth $110.11M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 13,816 shares traded hands or 73.46% up from the average. AmeriServ Financial, Inc. (NASDAQ:ASRV) has risen 15.00% since April 15, 2016 and is uptrending. It has outperformed by 10.38% the S&P500.

According to Zacks Investment Research, “Ameriserv Financial Inc., a financial holding company, is the parent of Ameriserv Financial and AmeriServ Trust & Financial Services in Johnstown, Standard Mortgage Corporation in Atlanta, AmeriServ Associates of State College, and AmeriServ Life Insurance Company in Arizona.”

Insitutional Activity: The institutional sentiment decreased to 0.64 in Q2 2016. Its down 0.14, from 0.78 in 2016Q1. The ratio dived, as 2 funds sold all AmeriServ Financial, Inc. shares owned while 9 reduced positions. 2 funds bought stakes while 5 increased positions. They now own 4.60 million shares or 0.28% less from 4.61 million shares in 2016Q1.
Manufacturers Life Insurance Communications The has 0% invested in the company for 1,409 shares. Geode Capital Ltd Llc, a Massachusetts-based fund reported 14,728 shares. Lesa Sroufe & holds 0.26% or 100,000 shares in its portfolio. Comml Bank Of Mellon Corporation accumulated 37,750 shares or 0% of the stock. Federated Invsts Pa holds 0% or 957 shares in its portfolio. Hudock Grp Ltd Liability Corporation owns 1,000 shares or 0% of their US portfolio. Pnc Fincl Group Inc Inc has invested 0% of its portfolio in AmeriServ Financial, Inc. (NASDAQ:ASRV). Bridgeway Capital Incorporated last reported 0.01% of its portfolio in the stock. Wells Fargo Com Mn holds 0% or 101 shares in its portfolio. First Heartland Consultants has 0.01% invested in the company for 40,900 shares. Northern Trust reported 30,526 shares or 0% of all its holdings. Vanguard Grp Inc Inc has 0% invested in the company for 677,390 shares. Renaissance Techs Ltd Liability Company reported 343,800 shares or 0% of all its holdings. California Public Employees Retirement has 0% invested in the company for 35,833 shares. Schulhoff And Company Incorporated reported 18,000 shares or 0.03% of all its holdings.

Insider Transactions: Since July 15, 2016, the stock had 4 insider purchases, and 0 sales for $2,756 net activity. The insider WISE ROBERT L bought $688.

More notable recent AmeriServ Financial, Inc. (NASDAQ:ASRV) news were published by: Prnewswire.com which released: “AmeriServ Financial, Inc. Announces Quarterly Common Stock Cash Dividend” on October 24, 2016, also Prnewswire.com with their article: “AmeriServ Financial Reports Earnings for the Third Quarter and First Nine …” published on October 18, 2016, Prnewswire.com published: “AmeriServ Financial Inc. Appoints Senior Leadership Team” on March 24, 2015. More interesting news about AmeriServ Financial, Inc. (NASDAQ:ASRV) were released by: Prnewswire.com and their article: “AmeriServ Financial, Inc. Completes Private Placement Of $7.65 Million Of …” published on January 04, 2016 as well as Prnewswire.com‘s news article titled: “AmeriServ Financial, Inc. Announces Leadership Change” with publication date: December 11, 2014.

ASRV Company Profile

AmeriServ Financial, Inc., incorporated on May 3, 1982, is a bank holding firm of AmeriServ Financial Bank (the Bank). The Company’s principal activities consist of owning and operating its three subsidiary entities. The Company’s divisions include retail banking, commercial banking, trust and investment/parent. The Company’s Retail banking segment includes the deposit-gathering branch franchise and lending to both individuals and small businesses. Lending activities include residential mortgage loans, direct consumer loans, and small business commercial loans. The Company’s Commercial banking to businesses includes commercial loans and commercial real estate mortgage (CRE) loans. The trust segment contains its wealth management businesses, which include the Trust Company, WCCA, its registered investment advisory firm and financial services. Wealth management includes personal trust services and products, such as personal portfolio investment management, estate planning and administration, custodial services and pre-need trusts. It also includes institutional trust services and products, such as 401(k) plans, defined benefit and defined contribution employee benefit plans, and individual retirement accounts. Financial services include the sale of mutual funds, annuities, and insurance products.

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