Univest Corporation of Pennsylvania's (UVSP) Neutral Rating Reiterated at Piper Sandler

Key Points

• Piper Sandler reiterated its Neutral rating on Univest and cut its price target from $46 to $45, implying about 9.5% upside from the prior close.
• Analyst views are mixed: MarketBeat reports a consensus “Moderate Buy” rating and a $46 average target price.
• Univest reported quarterly earnings of $0.78 per share, below the $0.98 consensus estimate; revenue of $90.03 million also fell short of estimates.

Univest Corporation of Pennsylvania (NASDAQ:UVSP - Get Free Report)'s stock had its "neutral" rating restated by stock analysts at Piper Sandler in a report issued on Monday, Benzinga reports. They presently have a $45.00 target price on the financial services provider's stock, down from their previous target price of $46.00. Piper Sandler's target price indicates a potential upside of 9.53% from the stock's previous close.

A number of other equities research analysts have also recently weighed in on UVSP. Weiss Ratings restated a "buy (a-)" rating on shares of Univest Corporation of Pennsylvania in a report on Monday, October 26th. Keefe, Bruyette & Woods lifted their price objective on Univest Corporation of Pennsylvania from $45.00 to $47.00 and gave the stock a "market perform" rating in a report on Friday, July 24th. Finally, Zacks Research downgraded Univest Corporation of Pennsylvania from a "strong-buy" rating to a "hold" rating in a research report on Friday, October 2nd. One investment analyst has rated the stock with a Strong Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat.com, Univest Corporation of Pennsylvania presently has an average rating of "Moderate Buy" and a consensus price target of $46.00.

Univest Corporation of Pennsylvania Price Performance

Shares of NASDAQ UVSP traded up $0.61 during midday trading on Monday, hitting $41.09. The company had a trading volume of 21,954 shares, compared to its average volume of 208,644. The firm has a market capitalization of $1.12 billion, a price-to-earnings ratio of 12.24 and a beta of 0.68. Univest Corporation of Pennsylvania has a twelve month low of $28.20 and a twelve month high of $45.46. The business has a 50-day simple moving average of $41.58 and a two-hundred day simple moving average of $39.41. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.10.

Univest Corporation of Pennsylvania (NASDAQ:UVSP - Get Free Report) last issued its earnings results on Thursday, October 29th. The financial services provider reported $0.78 earnings per share for the quarter, missing the consensus estimate of $0.98 by ($0.20). Univest Corporation of Pennsylvania had a return on equity of 9.94% and a net margin of 17.95%. The company had revenue of $90.03 million for the quarter, compared to analyst estimates of $90.55 million. Equities research analysts anticipate that Univest Corporation of Pennsylvania will post 3.72 earnings per share for the current year.

Insider Buying and Selling at Univest Corporation of Pennsylvania

In other news, Director Michael Turner sold 8,000 shares of the company's stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $43.03, for a total value of $344,240.00. Following the sale, the director directly owned 24,684 shares in the company, valued at $1,062,152.52. This represents a 24.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.83% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Fifth Third Bancorp grew its stake in Univest Corporation of Pennsylvania by 14.8% in the 3rd quarter. Fifth Third Bancorp now owns 8,016 shares of the financial services provider's stock worth $328,000 after acquiring an additional 1,031 shares during the period. Ethic Inc. purchased a new position in shares of Univest Corporation of Pennsylvania during the 3rd quarter worth $516,000. Parallel Advisors LLC lifted its stake in shares of Univest Corporation of Pennsylvania by 18.2% during the 3rd quarter. Parallel Advisors LLC now owns 2,688 shares of the financial services provider's stock worth $110,000 after purchasing an additional 414 shares during the period. Vise Technologies Inc. acquired a new stake in shares of Univest Corporation of Pennsylvania during the third quarter worth $372,000. Finally, Compass Ion Advisors LLC boosted its holdings in shares of Univest Corporation of Pennsylvania by 1.1% during the third quarter. Compass Ion Advisors LLC now owns 37,664 shares of the financial services provider's stock worth $1,543,000 after purchasing an additional 409 shares during the last quarter. Institutional investors and hedge funds own 75.07% of the company's stock.

Univest Corporation of Pennsylvania Company Profile

Univest Corporation of Pennsylvania is a financial services holding company headquartered in Souderton, Pennsylvania. Through its principal subsidiary, Univest Bank and Trust Co, the company provides banking and related financial services to individuals, families and businesses.

Univest's banking services include checking and savings accounts, consumer and commercial lending, mortgages, cash-management and treasury services, online and mobile banking, and other deposit products. The company also offers wealth management, investment and trust services, as well as insurance products through affiliated operations.

Founded in 1876, Univest has historically focused on serving communities in southeastern Pennsylvania, including the Philadelphia suburbs and surrounding counties.

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