Insider Selling: Univest Corporation of Pennsylvania (NASDAQ:UVSP) COO Sells 7,245 Shares of Stock

Key Points

• Univest COO Michael Keim sold 7,245 shares on May 5 at an average price of $38.71 for $280,454, trimming his holding by 9.76% to 66,979 shares (about $2.59M), according to the SEC filing.
• Quarterly results beat expectations: Univest reported $0.96 EPS vs. $0.84 consensus and $87.45M revenue vs. $84.85M, with a net margin of 18.25% and ROE of 10.19%.
• Dividend raised but analyst sentiment mixed: the quarterly dividend was increased to $0.23 ($0.92 annualized, 2.4% yield), while the consensus rating is "Hold" with a $37 target as the stock trades near $38.74 (1‑year high $39.06) and a P/E of 11.64.

Univest Corporation of Pennsylvania (NASDAQ:UVSP - Get Free Report) COO Michael Keim sold 7,245 shares of Univest Corporation of Pennsylvania 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Univest Corporation of Pennsylvania Price Performance

Shares of UVSP stock traded down $0.02 on Thursday, reaching $38.74. The company's stock had a trading volume of 59,668 shares, compared to its average volume of 179,697. The stock's fifty day simple moving average is $35.21 and its 200-day simple moving average is $33.57. Univest Corporation of Pennsylvania has a 1 year low of $27.91 and a 1 year high of $39.06. The company has a market capitalization of $1.08 billion, a price-to-earnings ratio of 11.64 and a beta of 0.67. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.10.

Univest Corporation of Pennsylvania (NASDAQ:UVSP - Get Free Report) last released its quarterly earnings data on Wednesday, April 22nd. The financial services provider reported $0.96 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 net margin of 18.25% and a return on equity of 10.19%. Analysts forecast that Univest Corporation of Pennsylvania will post 3.6 earnings per share for the current fiscal year.

Univest Corporation of Pennsylvania Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 20th. Stockholders of record on Wednesday, May 6th will be paid a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend is 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 26.43%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on UVSP shares. Weiss Ratings restated a "buy (b)" rating on shares of Univest Corporation of Pennsylvania in a research report on Friday, March 27th. Keefe, Bruyette & Woods lifted their price target on shares of 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. One equities research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $37.00.

Institutional Trading of Univest Corporation of Pennsylvania

Institutional investors and hedge funds have recently made changes to their positions in the company. State of Alaska Department of Revenue bought a new position in shares of Univest Corporation of Pennsylvania during the third quarter valued at approximately $34,000. Russell Investments Group Ltd. purchased a new stake in Univest Corporation of Pennsylvania during the second quarter worth $42,000. Geneos Wealth Management Inc. boosted its position 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 valued at $76,000 after acquiring an additional 2,252 shares in the last quarter. Osaic Holdings Inc. purchased a new position in shares of Univest Corporation of Pennsylvania in the 2nd quarter valued at $91,000. Finally, Tower Research Capital LLC TRC increased its holdings in shares of Univest Corporation of Pennsylvania by 69.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,225 shares of the financial services provider's stock valued at $97,000 after acquiring an additional 1,324 shares during the period. 75.07% of the stock is currently owned by institutional investors.

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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