UNIVEST FINANCIAL Corp Has $20.22 Million Position in Univest Corporation of Pennsylvania $UVSP

Key Points

• UNIVEST FINANCIAL Corp increased its stake in Univest Corporation of Pennsylvania by 22.2% in the fourth quarter, bringing its holdings to 617,526 shares valued at about $20.2 million.
• Univest reported better-than-expected quarterly results, with EPS of $0.96 versus the $0.84 estimate and revenue of $87.45 million above forecasts. The company also raised its quarterly dividend to $0.23 per share, up from $0.22.
• Recent insider sales included Director Natalye Paquin and COO Michael S. Keim, while analysts currently have a mixed view on the stock with an overall Hold consensus and a $37 price target.

UNIVEST FINANCIAL Corp boosted its position in Univest Corporation of Pennsylvania (NASDAQ:UVSP - Free Report) by 22.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 617,526 shares of the financial services provider's stock after purchasing an additional 112,203 shares during the quarter. Univest Corporation of Pennsylvania comprises about 1.1% of UNIVEST FINANCIAL Corp's portfolio, making the stock its 19th biggest holding. UNIVEST FINANCIAL Corp owned approximately 2.17% of Univest Corporation of Pennsylvania worth $20,218,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in UVSP. The Manufacturers Life Insurance Company increased its position in Univest Corporation of Pennsylvania by 15.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,475,872 shares of the financial services provider's stock worth $44,335,000 after buying an additional 193,561 shares during the period. Jane Street Group LLC bought a new stake in shares of Univest Corporation of Pennsylvania in the first quarter valued at about $1,467,000. Millennium Management LLC boosted its position in shares of Univest Corporation of Pennsylvania by 27.8% in the third quarter. Millennium Management LLC now owns 170,857 shares of the financial services provider's stock valued at $5,129,000 after acquiring an additional 37,194 shares during the period. Bank of America Corp DE grew its stake in shares of Univest Corporation of Pennsylvania by 25.9% in the second quarter. Bank of America Corp DE now owns 166,122 shares of the financial services provider's stock valued at $4,990,000 after acquiring an additional 34,220 shares in the last quarter. Finally, Sei Investments Co. grew its stake in shares of Univest Corporation of Pennsylvania by 17.3% in the third quarter. Sei Investments Co. now owns 229,183 shares of the financial services provider's stock valued at $6,878,000 after acquiring an additional 33,772 shares in the last quarter. 75.07% of the stock is owned by institutional investors and hedge funds.

Univest Corporation of Pennsylvania Price Performance

Shares of NASDAQ UVSP opened at $38.89 on Friday. The business has a fifty day moving average price of $35.31 and a two-hundred day moving average price of $33.64. The stock has a market capitalization of $1.08 billion, a PE ratio of 11.68 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 fifty-two week low of $27.91 and a fifty-two week high of $39.06.

Univest Corporation of Pennsylvania (NASDAQ:UVSP - Get Free Report) last released its earnings results on Wednesday, April 22nd. The financial services provider reported $0.96 earnings per share (EPS) for the quarter, topping 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. As a group, equities analysts predict 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 disclosed a quarterly dividend, which will be paid on Wednesday, May 20th. Shareholders of record on Wednesday, May 6th will be paid a dividend of $0.23 per share. The ex-dividend date is Wednesday, May 6th. This is a positive change from Univest Corporation of Pennsylvania's previous quarterly dividend of $0.22. This represents a $0.92 dividend on an annualized basis and a yield of 2.4%. Univest Corporation of Pennsylvania's dividend payout ratio is currently 27.63%.

Insider Transactions at Univest Corporation of Pennsylvania

In other Univest Corporation of Pennsylvania news, Director Natalye Paquin sold 13,000 shares of the firm's stock in a transaction dated Monday, April 27th. The shares were sold at an average price of $37.80, for a total value of $491,400.00. Following the transaction, the director directly owned 17,004 shares of the company's stock, valued at $642,751.20. This trade represents a 43.33% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Michael S. Keim sold 7,245 shares of the business's stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $38.71, for a total transaction of $280,453.95. Following the completion of the transaction, the chief operating officer owned 66,979 shares of the company's stock, valued at $2,592,757.09. The trade was a 9.76% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 1.83% of the company's stock.

Wall Street Analyst Weigh In

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