Ieq Capital LLC Buys Shares of 8,074 Univest Corporation of Pennsylvania $UVSP

Key Points

• Ieq Capital LLC invested $229,000 in Univest Corporation of Pennsylvania, acquiring 8,074 shares in the first quarter.
• Univest reported earnings of $0.69 EPS for the last quarter, exceeding analysts' expectations by $0.05, with revenues of $81.04 million.
• The company declared a quarterly dividend of $0.22 per share, yielding approximately 2.8%, with a payout ratio of 32.12%.

Ieq Capital LLC acquired a new position in shares of Univest Corporation of Pennsylvania (NASDAQ:UVSP - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 8,074 shares of the financial services provider's stock, valued at approximately $229,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in shares of 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 worth $48,077,000 after buying an additional 69,462 shares during the last quarter. American Century Companies Inc. raised its stake in shares of Univest Corporation of Pennsylvania by 8.0% during the first quarter. American Century Companies Inc. now owns 682,823 shares of the financial services provider's stock worth $19,365,000 after acquiring an additional 50,469 shares in the last quarter. Ameriprise Financial Inc. raised its stake in shares of Univest Corporation of Pennsylvania by 189.8% during the fourth quarter. Ameriprise Financial Inc. now owns 398,475 shares of the financial services provider's stock worth $11,759,000 after acquiring an additional 260,990 shares in the last quarter. Northern Trust Corp grew its holdings in shares of Univest Corporation of Pennsylvania by 2.8% in the fourth quarter. Northern Trust Corp now owns 339,290 shares of the financial services provider's stock worth $10,012,000 after purchasing an additional 9,184 shares during the last quarter. Finally, Allianz Asset Management GmbH bought a new stake in Univest Corporation of Pennsylvania in the first quarter valued at $4,953,000. 75.07% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Thomas M. Petro sold 9,000 shares of the stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $31.75, for a total transaction of $285,750.00. Following the completion of the transaction, the director directly owned 50,193 shares in the company, valued at approximately $1,593,627.75. This represents a 15.20% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.70% of the stock is owned by insiders.

Univest Corporation of Pennsylvania Stock Up 0.5%

Univest Corporation of Pennsylvania stock traded up $0.14 on Wednesday, hitting $31.04. 87,326 shares of the stock traded hands, compared to its average volume of 111,698. 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 firm has a market cap of $894.26 million, a P/E ratio of 11.33 and a beta of 0.77. The business's fifty day simple moving average is $30.75 and its 200 day simple moving average is $29.62. Univest Corporation of Pennsylvania has a 1 year low of $22.83 and a 1 year high of $32.86.

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 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.05. Univest Corporation of Pennsylvania had a return on equity of 8.92% and a net margin of 15.71%.The firm had revenue of $81.04 million during the quarter, compared to analyst estimates of $79.50 million. As a group, sell-side analysts forecast that Univest Corporation of Pennsylvania will post 2.36 earnings per share for the current year.

Univest Corporation of Pennsylvania Announces Dividend

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

Univest Corporation of Pennsylvania Company 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.