Hotchkis & Wiley Capital Management LLC Reduces Holdings in Univest Corporation of Pennsylvania $UVSP

Key Points

• Hotchkis & Wiley Capital Management LLC has reduced its holdings in Univest Corporation of Pennsylvania by 21.1%, selling 82,340 shares to end with approximately 308,430 shares valued at $8.7 million.
• Univest Corporation reported earnings of $0.69 per share, exceeding analyst expectations of $0.64, with revenue of $81.04 million above the forecast of $79.50 million.
• The company declared a quarterly dividend of $0.22 per share with a payout ratio of 32.12%, translating to an annualized yield of 2.8%.

Hotchkis & Wiley Capital Management LLC reduced its holdings in shares of Univest Corporation of Pennsylvania (NASDAQ:UVSP - Free Report) by 21.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 308,430 shares of the financial services provider's stock after selling 82,340 shares during the period. Hotchkis & Wiley Capital Management LLC owned about 1.07% of Univest Corporation of Pennsylvania worth $8,747,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. State of Tennessee Department of Treasury purchased a new stake in Univest Corporation of Pennsylvania during the 4th quarter worth approximately $244,000. Wealth Enhancement Advisory Services LLC increased its stake in Univest Corporation of Pennsylvania by 10.2% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 9,751 shares of the financial services provider's stock worth $277,000 after buying an additional 903 shares during the period. GAMMA Investing LLC increased its stake in Univest Corporation of Pennsylvania by 5,981.4% during the 1st quarter. GAMMA Investing LLC now owns 11,798 shares of the financial services provider's stock worth $335,000 after buying an additional 11,604 shares during the period. Northern Trust Corp increased its stake in Univest Corporation of Pennsylvania by 2.8% during the 4th quarter. Northern Trust Corp now owns 339,290 shares of the financial services provider's stock worth $10,012,000 after buying an additional 9,184 shares during the period. Finally, SG Americas Securities LLC increased its stake in Univest Corporation of Pennsylvania by 107.7% during the 1st quarter. SG Americas Securities LLC now owns 20,108 shares of the financial services provider's stock worth $570,000 after buying an additional 10,426 shares during the period. 75.07% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Univest Corporation of Pennsylvania

In other Univest Corporation of Pennsylvania news, Director Thomas M. Petro sold 9,000 shares of the stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $31.75, for a total value of $285,750.00. Following the sale, the director directly owned 50,193 shares of the company's stock, valued at approximately $1,593,627.75. This represents a 15.20% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 1.70% of the company's stock.

Univest Corporation of Pennsylvania Stock Down 0.3%

Shares of NASDAQ:UVSP traded down $0.08 during trading hours on Friday, reaching $31.67. The stock had a trading volume of 107,536 shares, compared to its average volume of 101,139. Univest Corporation of Pennsylvania has a 1 year low of $22.83 and a 1 year high of $32.86. The firm's 50 day moving average is $30.61 and its 200-day moving average is $29.59. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.02 and a current ratio of 1.02. The stock has a market capitalization of $912.41 million, a price-to-earnings ratio of 11.56 and a beta of 0.76.

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

Univest Corporation of Pennsylvania Dividend Announcement

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

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.