Ameriserv Financial (ASRV) AI Stock Analysis

• Market Cap: $54.52M
• Dividend Yield: 3.87%
• Average Volume (3M): 35.78K
• Price to Earnings (P/E): 9.7
• Beta (1Y): 0.22
• Revenue Growth: 6.89%
• EPS Growth: N/A
• Country: US
• Employees: 298
• Sector: Financial
• Sector Strength: 70
• Industry: Banks - Regional
• EPS (TTM): 0.09
• Shares Outstanding: 16,522,266
• 10 Day Avg. Volume: 26,763
• 30 Day Avg. Volume: 35,777
• PEG Ratio: 0.15
• Price to Book (P/B): 0.46
• Price to Sales (P/S): 0.60
• P/FCF Ratio: 0.00
• Enterprise Value/Market Cap: 2.21
• Enterprise Value/Revenue: 1.37
• Enterprise Value/Gross Profit: 2.19
• Enterprise Value/Ebitda: 14.43
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 66 Neutral
• Price Target: $3.50 ▲(10.76% Upside)

ASRV scores in the mid-range mainly due to improving financial performance (rebound to profitability, stronger cash flow, and reduced leverage) but tempered by low ROE and historical volatility. Technicals are mildly positive with the stock above key moving averages and neutral momentum, while valuation (low P/E plus a ~3.7% yield) and positive corporate updates provide additional support.

Positive Factors

Strengthened cash generation

Sustained positive operating and free cash flow supports durable capital allocation: it funds dividends, debt reduction, and strategic investments without relying on equity or volatile funding. Strong FCF conversion (~81% of net income) enhances resilience versus cyclical earnings swings.

Lower financial leverage

Material deleveraging reduces balance-sheet risk, increases capital flexibility and lending capacity, and lowers default exposure in downturns. A stronger equity base improves regulatory and funding headroom, enabling steadier growth and more conservative credit deployment over time.

Deepened strategic partnership with SB Value

An expanded, long-dated advisory deal plus near-10% ownership aligns an engaged investor with management, bringing operational expertise and governance support. This structural backing can accelerate scaling of wealth management and performance improvements across multi-year transformation efforts.

Negative Factors

Low return on equity

Very modest ROE and thin margins limit internal capital generation and impair the bank's ability to compound shareholder value. Persistently low returns constrain reinvestment, dividend growth, and capacity to fund strategic initiatives without external capital over the medium term.

Earnings and cash-flow volatility

Material year-to-year swings in profitability and cash flow make forecasting and strategic planning harder, increasing funding and execution risk. This inconsistency can pressure capital cushions, complicate credit underwriting, and reduce confidence in sustained performance improvements.

Concentration in net interest income

High reliance on net interest income makes earnings heavily sensitive to NIM shifts, loan mix, and credit costs. Limited diversification into fee-based or non-interest businesses increases exposure to rate cycles and credit stress, potentially amplifying earnings volatility over the medium term.

Ameriserv Financial Business Overview & Revenue Model

Company Description

AmeriServ Financial, Inc. operates as the bank holding company for AmeriServ Financial Bank that provides various consumer, mortgage, and commercial financial products. It offers retail banking services, such as demand, savings, and time deposits; checking and money market accounts; secured and unsecured consumer loans, and mortgage loans; and safe deposit boxes, holiday club accounts, and money orders. The company also provides lending, depository, and related financial services, such as commercial real estate mortgage loans, short and medium-term loans, revolving credit arrangements, lines of credit, inventory and accounts receivable financing, real estate-construction loans, business savings accounts, certificates of deposit, wire transfers, night depository, and lock box services to commercial, industrial, financial, and governmental customers. In addition, the company offers personal trust products and services, including personal portfolio investment management, estate planning and administration, custodial services, and pre-need trusts; institutional trust products and services comprising 401(k) plans, defined benefit and defined contribution employee benefit plans, and individual retirement accounts; financial services consisting of the sale of mutual funds, annuities, and insurance products; and union collective investment funds to invest union pension dollars in construction projects that utilize union labor. Further, it engages in underwriting as reinsurer of credit life and disability insurance. The company operates through a network of 17 banking locations in Allegheny, Cambria, Centre, Somerset, and Westmoreland counties, Pennsylvania, and Washington County, Maryland; and operates 18 automated bank teller machines. AmeriServ Financial, Inc. is headquartered in Johnstown, Pennsylvania.

How the Company Makes Money

Ameriserv Financial generates revenue through various channels, primarily from interest income on loans and other financial products. The bank earns interest by lending money to consumers and businesses, with mortgage loans, personal loans, and commercial loans being significant contributors. Additionally, the company generates non-interest income through fees for banking services, asset management, and investment services. Significant partnerships with local businesses and community organizations also help in expanding its customer base and enhancing service offerings, contributing to overall earnings.

Ameriserv Financial Financial Statement Overview

Summary

Financial statements point to a recovery: profitability improved vs. the 2023 loss year, TTM operating cash flow (~$5.3M) and free cash flow (~$4.9M) are positive, and leverage has improved (debt-to-equity down to ~0.74 TTM). Offsetting this, profitability and capital efficiency remain modest (TTM net margin ~3.9%, ROE ~2.3%) and results have been volatile across years.

Income Statement

ASRV’s earnings profile has improved meaningfully versus the 2023 loss year, with TTM (Trailing-Twelve-Months) net income of ~$5.1M on ~$87.3M of revenue and positive operating profitability. Revenue has grown steadily from 2020 through TTM, supporting the recovery. However, profitability remains modest (TTM net margin ~3.9%) and results have been volatile across the period (profit in 2020–2022, loss in 2023, then rebound), which keeps the score in the middle range.

Balance Sheet

Leverage has improved from the higher-debt years (debt-to-equity fell from ~1.52 in 2022 and ~1.13 in 2023 to ~0.74 in TTM), which is a constructive trend for balance-sheet risk. Equity has also grown versus 2023. Offsetting this, returns on equity are currently low (TTM ~2.3%) and were negative in 2023, indicating the balance sheet is not yet generating strong profitability relative to capital.

Cash Flow

Cash generation has strengthened: TTM (Trailing-Twelve-Months) operating cash flow is positive (~$5.3M) and free cash flow is positive (~$4.9M), with a sharp rebound from 2024. Free cash flow conversion is reasonably solid versus earnings in TTM (free cash flow is ~81% of net income). The main drawback is historical inconsistency (negative operating/free cash flow in 2020 and weaker free cash flow in 2024), suggesting cash flow can swing meaningfully year to year.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	88.34M	84.48M	77.25M	65.75M	64.43M
Gross Profit	55.13M	53.14M	44.98M	57.20M	55.74M
EBITDA	6.80M	6.48M	-2.31M	11.30M	10.81M
Net Income	5.61M	3.60M	-3.35M	7.45M	7.07M
Balance Sheet
Total Assets	1.45B	1.42B	1.39B	1.36B	1.34B
Cash, Cash Equivalents and Short-Term Investments	53.04M	173.37M	179.74M	202.47M	204.27M
Total Debt	80.67M	101.69M	115.56M	138.37M	72.84M
Total Liabilities	1.34B	1.32B	1.29B	1.26B	1.22B
Stockholders Equity	115.24M	107.25M	102.28M	106.18M	116.55M
Cash Flow
Free Cash Flow	0.00	976.00K	4.91M	3.13M	8.70M
Operating Cash Flow	0.00	2.69M	6.29M	5.21M	9.94M
Investing Cash Flow	0.00	-23.10M	-39.99M	-56.28M	-488.00K
Financing Cash Flow	0.00	24.13M	24.77M	32.93M	146.00K

Ameriserv Financial Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 3.16
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Negative
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ASRV, the sentiment is Positive. The current price of 3.16 is below the 20-day moving average (MA) of 3.23, above the 50-day MA of 3.14, and above the 200-day MA of 2.90, indicating a bullish trend. The MACD of 0.06 indicates Negative momentum. The RSI at 75.03 is Negative, neither overbought nor oversold. The STOCH value of 75.83 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for ASRV.

Ameriserv Financial Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
HFBL	78 Outperform	$56.30M	10.77	8.21%	3.21%	0.32%	37.93%
OPHC	75 Outperform	$54.32M	4.84	15.03%	―	14.91%	0.81%
Sector *	68 Neutral	$18.00B	11.42	9.92%	3.81%	9.73%	1.22%
ASRV	66 Neutral	$54.52M	9.72	4.54%	3.87%	6.89%	―
TCBS	55 Neutral	$48.50M	19.57	4.74%	1.10%	12.12%	―

Ameriserv Financial Corporate Events

AmeriServ Financial Posts Strong Q4 Results, Raises Dividend

On January 20, 2026, AmeriServ Financial reported that fourth-quarter 2025 net income rose to $1.44 million, or $0.09 per diluted share, up 62.2% from a year earlier, while full-year 2025 net income climbed to $5.61 million, or $0.34 per diluted share, a 61.9% increase over 2024; the improved performance was driven by a 34-basis-point expansion in net interest margin, higher net interest income, growth in interest-earning assets and deposits, reduced non-interest expenses, and higher loan and investment securities yields despite a higher annual provision for credit losses and lower non-interest income. The company also disclosed that its board declared a quarterly common stock cash dividend of $0.03 per share payable on February 17, 2026 to shareholders of record on February 2, 2026, while management highlighted stronger liquidity, ample lending capacity with an 83.8% loan-to-deposit ratio, and rising book and tangible book value per share as supporting a positive operational trajectory that may enhance shareholder value and reinforce its competitive positioning in a shifting interest-rate environment.

The most recent analyst rating on (ASRV) stock is a Hold with a $3.50 price target. To see the full list of analyst forecasts on Ameriserv Financial stock, see the ASRV Stock Forecast page.

AmeriServ expands SB Value consulting pact and stake

On January 6, 2026, AmeriServ Financial Inc. amended and restated its April 2025 consulting agreement with SB Value Partners, significantly expanding the scope and duration of SBV’s advisory role in business development, performance metrics, and shareholder relations across AmeriServ’s banking and wealth management operations. The revised deal extends the partnership through April 15, 2029, adds dedicated senior SBV personnel on site for intensive “Phase II” consulting, and compensates SBV with newly issued AmeriServ stock and cash fees—raising SBV’s ownership to about 9.7% of outstanding shares—while locking up those holdings for several years and giving the bank repurchase rights, moves that deepen SBV’s influence as both a major shareholder and strategic partner as AmeriServ seeks to scale its wealth management business, including its new alliance with Federated Hermes.

The most recent analyst rating on (ASRV) stock is a Hold with a $3.00 price target. To see the full list of analyst forecasts on Ameriserv Financial stock, see the ASRV Stock Forecast page.