AmeriServ Posts Higher Q3 Earnings, Declares Quarterly Dividend
ASRV sits 48% above its 52-week low of $2.96 on light trading volume (0.2× avg).
Summary
AmeriServ reported Q3 net income of $3.1 million, up 21.9% from $2.544 million a year earlier, with EPS of $0.18, extending the turnaround shown in Q2, when it swung from a prior-year net loss to record earnings on stronger net interest income and a credit loss recovery. Nine-month net income was $7.632 million, or $0.45 per share, up 80% in EPS. The release also includes a declared quarterly common stock cash dividend of $0.03 per share. For a micro-cap bank trading near $4.38, the direction of earnings and the dividend declaration are the two things that matter. Watch the net interest margin and credit-loss line versus the Q2 baseline to see whether the improvement is durable.
Updated with an SEC 8-K filing · What changed
Updates
· SEC 8-K — AmeriServ's Q3 net income was $3.1 million, up 21.9% from $2.544 million; nine-month net income was $7.632 million, or $0.45 per share, up 80% in EPS.
· Reuters — AmeriServ's Q3 net income rose 22% year over year with EPS of $0.18, and it declared a $0.03 per share quarterly dividend.
At the time of this announcement, ASRV was trading at $4.38 on NASDAQ in the Finance sector, with a market capitalization of approximately $74.4M. The 52-week trading range was $2.96 to $5.38. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.