Panagora Asset Management Inc. Increases Holdings in Univest Corporation of Pennsylvania $UVSP

Key Points

• Panagora Asset Management Inc. increased its stake in Univest Corporation by 82.6%, acquiring an additional 19,352 shares and owning approximately $1.21 million worth of shares by the end of the first quarter.
• Univest Corporation of Pennsylvania reported a quarterly EPS of $0.69, surpassing analysts' expectations of $0.64 and achieving revenue of $81.04 million.
• The company declared a quarterly dividend of $0.22 per share, which represents an annual yield of 2.8% and a payout ratio of 32.12%.

Panagora Asset Management Inc. boosted its position in shares of Univest Corporation of Pennsylvania (NASDAQ:UVSP - Free Report) by 82.6% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 42,782 shares of the financial services provider's stock after purchasing an additional 19,352 shares during the period. Panagora Asset Management Inc. owned 0.15% of Univest Corporation of Pennsylvania worth $1,213,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of UVSP. Tower Research Capital LLC TRC increased its holdings in Univest Corporation of Pennsylvania by 161.2% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,003 shares of the financial services provider's stock worth $30,000 after buying an additional 619 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of Univest Corporation of Pennsylvania by 22.4% during the first quarter. PNC Financial Services Group Inc. now owns 5,872 shares of the financial services provider's stock valued at $167,000 after purchasing an additional 1,076 shares during the last quarter. XTX Topco Ltd bought a new stake in Univest Corporation of Pennsylvania during the first quarter valued at approximately $221,000. Ieq Capital LLC purchased a new stake in shares of Univest Corporation of Pennsylvania during the 1st quarter worth approximately $229,000. Finally, ProShare Advisors LLC purchased a new stake in Univest Corporation of Pennsylvania in the 4th quarter valued at about $240,000. 75.07% of the stock is currently owned by institutional investors and hedge funds.

Univest Corporation of Pennsylvania Stock Performance

Univest Corporation of Pennsylvania stock traded up $0.09 during mid-day trading on Monday, reaching $31.27. 68,431 shares of the company traded hands, compared to its average volume of 111,687. The company has a market capitalization of $900.74 million, a price-to-earnings ratio of 11.41 and a beta of 0.77. The firm's fifty day moving average is $30.72 and its two-hundred day moving average is $29.60. Univest Corporation of Pennsylvania has a fifty-two week low of $22.83 and a fifty-two week high of $32.86. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.02 and a quick ratio of 1.02.

Univest Corporation of Pennsylvania (NASDAQ:UVSP - Get Free Report) last posted 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. The business 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, equities research analysts expect that Univest Corporation of Pennsylvania will post 2.36 earnings per share for the current fiscal 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 issued a $0.22 dividend. The ex-dividend date was Wednesday, August 6th. This represents a $0.88 annualized dividend and a yield of 2.8%. Univest Corporation of Pennsylvania's payout ratio is 32.12%.

Insider Activity at Univest Corporation of Pennsylvania

In other news, Director Thomas M. Petro sold 9,000 shares of the stock in a transaction 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 owned 50,193 shares of the company's stock, valued at approximately $1,593,627.75. This represents a 15.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 1.70% of the company's stock.

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.