Hotchkis & Wiley Capital Management LLC Has $8.75 Million Stake 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 lowered its holdings in shares of Univest Corporation of Pennsylvania (NASDAQ:UVSP - Free Report) by 21.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). 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 1.07% of Univest Corporation of Pennsylvania worth $8,747,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Vanguard Group Inc. raised its stake in shares of Univest Corporation of Pennsylvania by 4.3% during the 1st quarter. Vanguard Group Inc. now owns 1,695,235 shares of the financial services provider's stock worth $48,077,000 after buying an additional 69,462 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Univest Corporation of Pennsylvania by 6.7% during the 4th quarter. The Manufacturers Life Insurance Company now owns 1,204,530 shares of the financial services provider's stock worth $35,546,000 after buying an additional 75,964 shares during the last quarter. American Century Companies Inc. raised its stake in shares of Univest Corporation of Pennsylvania by 8.0% during the 1st quarter. American Century Companies Inc. now owns 682,823 shares of the financial services provider's stock worth $19,365,000 after buying an additional 50,469 shares during the last quarter. Ameriprise Financial Inc. raised its stake in shares of Univest Corporation of Pennsylvania by 189.8% during the 4th quarter. Ameriprise Financial Inc. now owns 398,475 shares of the financial services provider's stock worth $11,759,000 after buying an additional 260,990 shares during the last quarter. Finally, Northern Trust Corp raised its stake in shares of 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 last quarter. Institutional investors and hedge funds own 75.07% of the company's stock.

Univest Corporation of Pennsylvania Price Performance

Univest Corporation of Pennsylvania stock traded down $0.05 during midday trading on Friday, reaching $31.71. 45,049 shares of the company were exchanged, compared to its average volume of 111,394. The company has a market capitalization of $913.42 million, a price-to-earnings ratio of 11.57 and a beta of 0.76. The firm's 50-day simple moving average is $30.56 and its 200-day simple moving average is $29.60. Univest Corporation of Pennsylvania has a 1 year low of $22.83 and a 1 year high of $32.86. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.02 and a current ratio of 1.02.

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

Univest Corporation of Pennsylvania Dividend Announcement

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

Insider Activity

In other Univest Corporation of Pennsylvania 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 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 position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 1.70% of the stock is currently owned by 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.