Univest Corporation of Pennsylvania $UVSP Holdings Trimmed by Pzena Investment Management LLC

Key Points

• Pzena Investment Management cut its Univest Corporation of Pennsylvania stake by 3.9% in the fourth quarter, though it still owned 856,235 shares valued at about $28.0 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 raised its quarterly dividend to $0.23 per share from $0.22, and analysts currently rate the stock a consensus Hold with an average price target of $37.00.

Pzena Investment Management LLC lowered its position in shares of Univest Corporation of Pennsylvania (NASDAQ:UVSP - Free Report) by 3.9% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 856,235 shares of the financial services provider's stock after selling 34,667 shares during the quarter. Pzena Investment Management LLC owned 3.01% of Univest Corporation of Pennsylvania worth $28,033,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Univest Corporation of Pennsylvania by 1.0% during the third quarter. Vanguard Group Inc. now owns 1,741,938 shares of the financial services provider's stock valued at $52,293,000 after buying an additional 16,682 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in Univest Corporation of Pennsylvania by 15.1% during the second quarter. The Manufacturers Life Insurance Company now owns 1,475,872 shares of the financial services provider's stock valued at $44,335,000 after buying an additional 193,561 shares in the last quarter. UNIVEST FINANCIAL Corp boosted its stake in Univest Corporation of Pennsylvania by 22.2% during the fourth quarter. UNIVEST FINANCIAL Corp now owns 617,526 shares of the financial services provider's stock valued at $20,218,000 after buying an additional 112,203 shares in the last quarter. Sei Investments Co. boosted its position in shares of Univest Corporation of Pennsylvania by 17.3% in the 3rd quarter. Sei Investments Co. now owns 229,183 shares of the financial services provider's stock valued at $6,878,000 after purchasing an additional 33,772 shares during the period. Finally, Bridgeway Capital Management LLC boosted its position in shares of Univest Corporation of Pennsylvania by 4.1% in the 3rd quarter. Bridgeway Capital Management LLC now owns 214,185 shares of the financial services provider's stock valued at $6,430,000 after purchasing an additional 8,374 shares during the period. Institutional investors own 75.07% of the company's stock.

Univest Corporation of Pennsylvania Stock Up 0.8%

Shares of Univest Corporation of Pennsylvania stock opened at $39.31 on Friday. The firm has a market cap of $1.09 billion, a price-to-earnings ratio of 11.80 and a beta of 0.67. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.02 and a quick ratio of 1.02. Univest Corporation of Pennsylvania has a 52-week low of $27.91 and a 52-week high of $39.37. The stock has a 50-day simple moving average of $36.20 and a 200-day simple moving average of $34.25.

Univest Corporation of Pennsylvania (NASDAQ:UVSP - Get Free Report) last announced 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. The business had revenue of $87.45 million during the quarter, compared to analyst estimates of $84.85 million. Univest Corporation of Pennsylvania had a return on equity of 10.19% and a net margin of 18.25%. On average, equities research analysts expect that Univest Corporation of Pennsylvania will post 3.6 earnings per share for the current fiscal year.

Univest Corporation of Pennsylvania Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 20th. Stockholders of record on Wednesday, May 6th were issued a dividend of $0.23 per share. The ex-dividend date was Wednesday, May 6th. This represents a $0.92 annualized dividend and a dividend yield of 2.3%. 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 presently 27.63%.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In related news, COO Michael S. Keim sold 7,245 shares of the business's stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $38.71, for a total value of $280,453.95. Following the completion of the sale, the chief operating officer directly owned 66,979 shares in the company, valued at approximately $2,592,757.09. The trade was a 9.76% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Natalye Paquin sold 13,000 shares of the business's stock in a transaction that occurred on Monday, April 27th. The stock was sold at an average price of $37.80, for a total value of $491,400.00. Following the completion of the sale, the director owned 17,004 shares of the company's stock, valued at approximately $642,751.20. This trade represents a 43.33% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.83% of the stock is currently owned by company insiders.

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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