Royce & Associates LP Sells 41,802 Shares of Univest Corporation of Pennsylvania $UVSP

Key Points

• Royce & Associates LP cut its stake in Univest Corporation of Pennsylvania by 34.7% in the fourth quarter, selling 41,802 shares and leaving it with 78,556 shares worth about $2.57 million.
• Univest reported better-than-expected quarterly results, posting EPS of $0.96 versus estimates of $0.84 and revenue of $87.45 million versus $84.85 million expected.
• The company also raised its quarterly dividend to $0.23 per share, up from $0.22, for an annualized yield of about 2.3%.

Royce & Associates LP lessened its stake in shares of Univest Corporation of Pennsylvania (NASDAQ:UVSP - Free Report) by 34.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 78,556 shares of the financial services provider's stock after selling 41,802 shares during the period. Royce & Associates LP owned 0.28% of Univest Corporation of Pennsylvania worth $2,572,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in UVSP. Russell Investments Group Ltd. bought a new position in Univest Corporation of Pennsylvania during the 2nd quarter worth $42,000. Geneos Wealth Management Inc. increased its stake in Univest Corporation of Pennsylvania by 545.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 2,665 shares of the financial services provider's stock worth $76,000 after acquiring an additional 2,252 shares during the period. Osaic Holdings Inc. bought a new position in Univest Corporation of Pennsylvania during the 2nd quarter worth $91,000. Tower Research Capital LLC TRC increased its stake in Univest Corporation of Pennsylvania by 69.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,225 shares of the financial services provider's stock worth $97,000 after acquiring an additional 1,324 shares during the period. Finally, PNC Financial Services Group Inc. increased its stake in Univest Corporation of Pennsylvania by 18.1% during the 3rd quarter. PNC Financial Services Group Inc. now owns 6,774 shares of the financial services provider's stock worth $203,000 after acquiring an additional 1,040 shares during the period. Institutional investors own 75.07% of the company's stock.

Univest Corporation of Pennsylvania Trading Up 0.2%

Shares of UVSP opened at $39.44 on Friday. Univest Corporation of Pennsylvania has a 52-week low of $27.91 and a 52-week high of $40.17. The business's fifty day moving average is $37.00 and its 200-day moving average is $34.63. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.02 and a current ratio of 1.02. The firm has a market cap of $1.10 billion, a price-to-earnings ratio of 11.84 and a beta of 0.67.

Univest Corporation of Pennsylvania (NASDAQ:UVSP - Get Free Report) last issued its quarterly earnings results on Wednesday, April 22nd. The financial services provider reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.12. Univest Corporation of Pennsylvania had a return on equity of 10.19% and a net margin of 18.25%.The company had revenue of $87.45 million for the quarter, compared to analyst estimates of $84.85 million. Equities analysts anticipate that Univest Corporation of Pennsylvania will post 3.6 EPS for the current fiscal year.

Univest Corporation of Pennsylvania Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 20th. Stockholders of record on Wednesday, May 6th were paid a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 2.3%. The ex-dividend date was Wednesday, May 6th. This is a positive change from Univest Corporation of Pennsylvania's previous quarterly dividend of $0.22. Univest Corporation of Pennsylvania's dividend payout ratio is 27.63%.

Insider Buying and Selling at Univest Corporation of Pennsylvania

In related news, COO Michael S. Keim sold 7,245 shares of the firm's stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $38.71, for a total transaction of $280,453.95. Following the sale, the chief operating officer owned 66,979 shares of the company's stock, valued at $2,592,757.09. This trade represents a 9.76% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Natalye Paquin sold 13,000 shares of the firm's stock in a transaction on Monday, April 27th. The shares were sold at an average price of $37.80, for a total value of $491,400.00. Following the sale, the director directly owned 17,004 shares in the company, valued at approximately $642,751.20. This trade represents a 43.33% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 1.83% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have commented on UVSP shares. Keefe, Bruyette & Woods raised their price objective on Univest Corporation of Pennsylvania from $37.00 to $40.00 and gave the stock a "market perform" rating in a research note on Friday, April 24th. Weiss Ratings reiterated a "buy (b)" rating on shares of Univest Corporation of Pennsylvania in a research note on Friday, March 27th. One research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $37.00.

Univest Corporation of Pennsylvania Profile

Univest Corporation of Pennsylvania is a financial holding company headquartered in Souderton, Pennsylvania, operating through its primary subsidiary, Univest Bank and Trust Co The company offers a comprehensive range of banking services, including commercial and consumer lending, deposit products, mortgage banking, treasury and payment solutions, and wealth management services. Through its community banking model, Univest serves individuals, small to middle-market businesses, and nonprofit and public institutions.

Founded in 1893 as Souderton Industrial Savings Association, Univest has grown through a combination of organic expansion and targeted acquisitions.

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