Charles Schwab Investment Management Inc. Sells 9,686 Shares of Univest Corporation of Pennsylvania $UVSP

Key Points

• Charles Schwab Investment Management Inc. reduced its stake in Univest Corporation of Pennsylvania by 3.9%, owning approximately $6.68 million worth of shares after selling 9,686 shares in the first quarter.
• Univest Corporation recently reported earnings per share of $0.69, exceeding the consensus estimate of $0.64, and achieved a revenue of $81.04 million for the quarter.
• The company declared a quarterly dividend of $0.22 per share, with a dividend yield of 2.8% and a payout ratio of 32.12%.

Charles Schwab Investment Management Inc. cut its position in Univest Corporation of Pennsylvania (NASDAQ:UVSP - Free Report) by 3.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 235,701 shares of the financial services provider's stock after selling 9,686 shares during the period. Charles Schwab Investment Management Inc. owned 0.82% of Univest Corporation of Pennsylvania worth $6,684,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in UVSP. Ameriprise Financial Inc. lifted its position in Univest Corporation of Pennsylvania by 189.8% in the 4th quarter. Ameriprise Financial Inc. now owns 398,475 shares of the financial services provider's stock valued at $11,759,000 after acquiring an additional 260,990 shares in the last quarter. Allianz Asset Management GmbH bought a new position in Univest Corporation of Pennsylvania in the 1st quarter valued at about $4,953,000. Raymond James Financial Inc. bought a new position in Univest Corporation of Pennsylvania in the 4th quarter valued at about $2,299,000. The Manufacturers Life Insurance Company lifted its position in Univest Corporation of Pennsylvania by 6.7% in the 4th quarter. The Manufacturers Life Insurance Company now owns 1,204,530 shares of the financial services provider's stock valued at $35,546,000 after acquiring an additional 75,964 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position in Univest Corporation of Pennsylvania by 4.3% in the 1st quarter. Vanguard Group Inc. now owns 1,695,235 shares of the financial services provider's stock valued at $48,077,000 after acquiring an additional 69,462 shares in the last quarter. 75.07% of the stock is currently owned by institutional investors and hedge funds.

Univest Corporation of Pennsylvania Stock Down 0.3%

NASDAQ UVSP traded down $0.08 during trading hours on Monday, hitting $31.67. The company's stock had a trading volume of 107,536 shares, compared to its average volume of 100,470. Univest Corporation of Pennsylvania has a 52 week low of $22.83 and a 52 week high of $32.86. The company has a market capitalization of $912.41 million, a PE ratio of 11.56 and a beta of 0.77. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.16. The company's 50-day simple moving average is $30.64 and its two-hundred day simple moving average is $29.58.

Univest Corporation of Pennsylvania (NASDAQ:UVSP - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The financial services provider reported $0.69 EPS for the quarter, topping the consensus estimate of $0.64 by $0.05. The firm had revenue of $81.04 million for the quarter, compared to analysts' expectations of $79.50 million. Univest Corporation of Pennsylvania had a net margin of 15.71% and a return on equity of 8.92%. Research analysts anticipate that Univest Corporation of Pennsylvania will post 2.36 EPS for the current fiscal year.

Univest Corporation of Pennsylvania Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 20th. Stockholders of record on Wednesday, August 6th were issued a $0.22 dividend. The ex-dividend date of this dividend was Wednesday, August 6th. This represents a $0.88 annualized dividend and a dividend yield of 2.8%. Univest Corporation of Pennsylvania's dividend payout ratio is currently 32.12%.

Insider Activity

In other news, Director Thomas M. Petro sold 9,000 shares of the company's stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $31.75, for a total value of $285,750.00. Following the completion of the transaction, the director directly owned 50,193 shares of the company's stock, valued at $1,593,627.75. This represents a 15.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.70% of the stock is currently owned by corporate insiders.

Univest Corporation of Pennsylvania Profile

Univest Financial Corporation operates as the bank holding company for Univest Bank and Trust Co that provides banking products and services primarily in the United States. It operates through three segments: Banking, Wealth Management, and Insurance. The Banking segment offers a range of banking services, such as deposit taking, loan origination and servicing, mortgage banking, other general banking, and equipment lease financing services for individuals, businesses, municipalities, and nonprofit organizations.