Univest Corporation of Pennsylvania $UVSP Shares Bought by Hsbc Holdings PLC

Hsbc Holdings PLC raised its holdings in Univest Corporation of Pennsylvania (NASDAQ:UVSP - Free Report) by 124.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 52,472 shares of the financial services provider's stock after purchasing an additional 29,138 shares during the period. Hsbc Holdings PLC owned about 0.19% of Univest Corporation of Pennsylvania worth $2,317,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Univest Corporation of Pennsylvania by 4.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,171 shares of the financial services provider's stock valued at $487,000 after acquiring an additional 703 shares during the period. Empowered Funds LLC grew its position in shares of Univest Corporation of Pennsylvania by 4.2% in the first quarter. Empowered Funds LLC now owns 102,517 shares of the financial services provider's stock valued at $2,907,000 after purchasing an additional 4,087 shares during the period. Jane Street Group LLC acquired a new stake in shares of Univest Corporation of Pennsylvania in the first quarter valued at about $1,467,000. Geneos Wealth Management Inc. increased its stake in shares of Univest Corporation of Pennsylvania by 545.3% during the first quarter. Geneos Wealth Management Inc. now owns 2,665 shares of the financial services provider's stock worth $76,000 after purchasing an additional 2,252 shares in the last quarter. Finally, Legal & General Group Plc increased its stake in shares of Univest Corporation of Pennsylvania by 8.1% during the second quarter. Legal & General Group Plc now owns 30,612 shares of the financial services provider's stock worth $920,000 after purchasing an additional 2,291 shares in the last quarter. 75.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Zacks Research raised Univest Corporation of Pennsylvania from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, July 28th. Weiss Ratings raised Univest Corporation of Pennsylvania from a "buy (b+)" rating to a "buy (a-)" rating in a research note on Tuesday, July 28th. Finally, Keefe, Bruyette & Woods raised their price objective on Univest Corporation of Pennsylvania from $45.00 to $47.00 and gave the company a "market perform" rating in a report on Friday, July 24th. Two research analysts have rated the stock with a Strong Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $40.50.

Insider Activity at Univest Corporation of Pennsylvania

In related news, Director Michael Turner sold 8,000 shares of the firm's stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $43.03, for a total value of $344,240.00. Following the sale, the director owned 24,684 shares of the company's stock, valued at $1,062,152.52. This trade represents a 24.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.83% of the company's stock.

Univest Corporation of Pennsylvania Price Performance

Shares of UVSP opened at $42.67 on Friday. The company has a market cap of $1.18 billion, a P/E ratio of 12.33 and a beta of 0.65. Univest Corporation of Pennsylvania has a fifty-two week low of $28.03 and a fifty-two week high of $45.46. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.10. The firm's 50 day moving average price is $43.13 and its 200 day moving average price is $39.61.

Univest Corporation of Pennsylvania (NASDAQ:UVSP - Get Free Report) last issued its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $0.82 EPS for the quarter, missing the consensus estimate of $0.87 by ($0.05). Univest Corporation of Pennsylvania had a net margin of 18.86% and a return on equity of 10.41%. The business had revenue of $89.59 million during the quarter, compared to analysts' expectations of $86.66 million. On average, research analysts forecast that Univest Corporation of Pennsylvania will post 3.67 earnings per share for the current fiscal year.

Univest Corporation of Pennsylvania Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 19th. Stockholders of record on Wednesday, August 5th were given a dividend of $0.23 per share. The ex-dividend date of this dividend was Wednesday, August 5th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.2%. Univest Corporation of Pennsylvania's payout ratio is currently 26.59%.

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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