Pzena Investment Management LLC Sells 326,362 Shares of Univest Corporation of Pennsylvania $UVSP

Key Points

• Pzena Investment Management cut its Univest stake by 39.1%, selling 326,362 shares in the third quarter; it retained 508,266 shares, while institutional investors and hedge funds collectively own 75.07% of the stock.
• Univest reported quarterly EPS of $0.78, missing analyst expectations of $0.98, and revenue of $90.03 million, slightly below estimates. Analysts’ consensus rating is “Moderate Buy,” with an average price target of $40.50.
• The company declared a quarterly dividend of $0.23 per share, equivalent to $0.92 annually and a 2.3% yield.

Pzena Investment Management LLC decreased its stake in shares of Univest Corporation of Pennsylvania (NASDAQ:UVSP - Free Report) by 39.1% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 508,266 shares of the financial services provider's stock after selling 326,362 shares during the period. Pzena Investment Management LLC owned about 1.84% of Univest Corporation of Pennsylvania worth $20,829,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of UVSP. Vise Technologies Inc. acquired a new stake in Univest Corporation of Pennsylvania during the third quarter valued at approximately $372,000. Compass Ion Advisors LLC grew its position in shares of Univest Corporation of Pennsylvania by 1.1% in the 3rd quarter. Compass Ion Advisors LLC now owns 37,664 shares of the financial services provider's stock worth $1,543,000 after acquiring an additional 409 shares in the last quarter. Bernardo Wealth Planning LLC grew its position in shares of Univest Corporation of Pennsylvania by 100.4% in the 3rd quarter. Bernardo Wealth Planning LLC now owns 48,632 shares of the financial services provider's stock worth $1,993,000 after acquiring an additional 24,361 shares in the last quarter. Nisa Investment Advisors LLC increased its holdings in shares of Univest Corporation of Pennsylvania by 66.2% in the 3rd quarter. Nisa Investment Advisors LLC now owns 5,675 shares of the financial services provider's stock valued at $233,000 after acquiring an additional 2,261 shares during the last quarter. Finally, Farther Finance Advisors LLC increased its holdings in shares of Univest Corporation of Pennsylvania by 49.4% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,074 shares of the financial services provider's stock valued at $44,000 after acquiring an additional 355 shares during the last quarter. 75.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Univest Corporation of Pennsylvania

In related news, Director Michael Turner sold 8,000 shares of the business's stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $43.03, for a total transaction of $344,240.00. Following the completion of the transaction, the director owned 24,684 shares in the company, valued at $1,062,152.52. The trade was a 24.48% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.83% of the stock is owned by corporate insiders.

Analyst Ratings Changes

UVSP has been the topic of several research reports. Keefe, Bruyette & Woods upped their price target on Univest Corporation of Pennsylvania from $45.00 to $47.00 and gave the company a "market perform" rating in a research report on Friday, July 24th. Zacks Research downgraded shares of Univest Corporation of Pennsylvania from a "strong-buy" rating to a "hold" rating in a report on Friday, October 2nd. Finally, Weiss Ratings reaffirmed a "buy (a-)" rating on shares of Univest Corporation of Pennsylvania in a report on Monday, October 26th. One investment analyst has rated the stock with a Strong Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, Univest Corporation of Pennsylvania presently has a consensus rating of "Moderate Buy" and an average target price of $40.50.

Univest Corporation of Pennsylvania Price Performance

UVSP opened at $40.30 on Friday. The firm has a market cap of $1.09 billion, a price-to-earnings ratio of 12.39 and a beta of 0.68. Univest Corporation of Pennsylvania has a fifty-two week low of $28.20 and a fifty-two week high of $45.46. The company's 50-day moving average price is $41.60 and its 200 day moving average price is $39.37. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.10.

Univest Corporation of Pennsylvania (NASDAQ:UVSP - Get Free Report) last issued its earnings results on Thursday, October 29th. The financial services provider reported $0.78 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.98 by ($0.20). Univest Corporation of Pennsylvania had a return on equity of 9.93% and a net margin of 17.95%. The business had revenue of $90.03 million during the quarter, compared to the consensus estimate of $90.55 million. As a group, sell-side analysts expect that Univest Corporation of Pennsylvania will post 3.72 earnings per share for the current year.

Univest Corporation of Pennsylvania Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 25th. Investors of record on Wednesday, November 11th will be issued a $0.23 dividend. The ex-dividend date of this dividend is Tuesday, November 10th. This represents a $0.92 annualized dividend and a dividend yield of 2.3%. Univest Corporation of Pennsylvania's dividend payout ratio (DPR) is 27.46%.

About Univest Corporation of Pennsylvania

Univest Corporation of Pennsylvania is a financial services holding company headquartered in Souderton, Pennsylvania. Through its principal subsidiary, Univest Bank and Trust Co, the company provides banking and related financial services to individuals, families and businesses.

Univest's banking services include checking and savings accounts, consumer and commercial lending, mortgages, cash-management and treasury services, online and mobile banking, and other deposit products. The company also offers wealth management, investment and trust services, as well as insurance products through affiliated operations.

Founded in 1876, Univest has historically focused on serving communities in southeastern Pennsylvania, including the Philadelphia suburbs and surrounding counties.

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