Univest Corporation of Pennsylvania $UVSP Shares Purchased by Bank of America Corp DE

Key Points

• Bank of America increased its Univest stake by 18.1% in the first quarter, acquiring 34,557 additional shares for a total holding of 225,853 shares valued at approximately $7.7 million. Institutional investors collectively own 75.07% of UVSP.
• Univest reported quarterly EPS of $0.82, missing analyst expectations of $0.87, while revenue of $89.59 million exceeded the $86.66 million consensus estimate. The stock recently traded at $41.51, below its 52-week high of $45.46.
• The company declared a quarterly dividend of $0.23, equivalent to an annualized $0.92 payout and a 2.2% yield. Analyst sentiment remains favorable, with an average rating of “Buy,” although the consensus price target is $40.50.

Bank of America Corp DE grew its position in shares of Univest Corporation of Pennsylvania (NASDAQ:UVSP - Free Report) by 18.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 225,853 shares of the financial services provider's stock after acquiring an additional 34,557 shares during the quarter. Bank of America Corp DE owned about 0.81% of Univest Corporation of Pennsylvania worth $7,738,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of UVSP. Russell Investments Group Ltd. acquired a new stake in Univest Corporation of Pennsylvania during the 2nd quarter worth approximately $42,000. Geneos Wealth Management Inc. lifted its position in 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 valued at $76,000 after buying an additional 2,252 shares in the last quarter. Osaic Holdings Inc. purchased a new stake in Univest Corporation of Pennsylvania during the second quarter worth approximately $91,000. Tower Research Capital LLC TRC grew its stake in Univest Corporation of Pennsylvania by 69.6% during the second quarter. Tower Research Capital LLC TRC now owns 3,225 shares of the financial services provider's stock worth $97,000 after buying an additional 1,324 shares during the period. Finally, Mariner LLC acquired a new stake in shares of Univest Corporation of Pennsylvania in the fourth quarter worth $211,000. 75.07% of the stock is currently owned by hedge funds and other institutional investors.

Univest Corporation of Pennsylvania Trading Down 0.6%

Shares of NASDAQ UVSP opened at $41.51 on Wednesday. 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 stock's 50 day moving average price is $43.47 and its two-hundred day moving average price is $39.02. Univest Corporation of Pennsylvania has a 52-week low of $28.03 and a 52-week high of $45.46. The stock has a market capitalization of $1.14 billion, a P/E ratio of 12.00 and a beta of 0.66.

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

Univest Corporation of Pennsylvania Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 19th. Shareholders of record on Wednesday, August 5th were issued a $0.23 dividend. The ex-dividend date of this dividend was Wednesday, August 5th. This represents a $0.92 dividend on an annualized basis and a yield of 2.2%. Univest Corporation of Pennsylvania's dividend payout ratio (DPR) is currently 26.59%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on UVSP shares. Weiss Ratings upgraded shares of Univest Corporation of Pennsylvania from a "buy (b+)" rating to a "buy (a-)" rating in a report on Tuesday, July 28th. Keefe, Bruyette & Woods increased their price target 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. Finally, Zacks Research raised Univest Corporation of Pennsylvania from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, July 28th. Two analysts have rated the stock with a Strong Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, Univest Corporation of Pennsylvania has an average rating of "Buy" and a consensus price target of $40.50.

Insider Buying and Selling at Univest Corporation of Pennsylvania

In other news, CFO Brian J. Richardson sold 2,090 shares of the stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $40.90, for a total transaction of $85,481.00. Following the sale, the chief financial officer directly owned 24,228 shares in the company, valued at approximately $990,925.20. This represents a 7.94% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael L. Turner sold 8,000 shares of the firm'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 value of $344,240.00. Following the completion of the sale, the director directly owned 24,684 shares in the company, valued at approximately $1,062,152.52. This trade represents a 24.48% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 24,023 shares of company stock worth $999,720 over the last ninety days. Company insiders own 1.83% of the company's stock.

Univest Corporation of Pennsylvania Company 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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