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AmeriServ Financial, Inc. Message Board

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  • pvbud pvbud Sep 21, 2000 12:02 AM Flag

    uban price

    Uban corporation, and its listing symbol, have a
    traceable track record. However, since the spin-off of
    Three Rivers Bank last Spring UBAN has eliminated a
    significant earning entity. In effect, UBAN corporation is
    re-organized with a CEO in a new corporate
    format.
    Accordingly, the current price may be a bargain if UBAN is
    profitably successful. The next few quarters are probably
    critical to UBAN's investment image. Unfortunately,
    management and the Board of Directors were not farsighted in
    the post spin-off accounting structure and the UBAN
    corporation is dragging the baggage of higher 1999 and first
    quarter 2000, earnings as compared to a more slender post
    spin-off corporation. The year to year comparative numbers
    make UBAN look like it's going downhill. Sharp outside
    accountants and astute management could, at minimum, provide
    adjusting Notes to define this change, but so far, we have
    not seen this in a way meaningful to the market. Hope
    this one person opinion is helpful.

 
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