Keefe, Bruyette & Woods Increases Univest Corporation of Pennsylvania (NASDAQ:UVSP) Price Target to $47.00

Key Points

• Keefe, Bruyette & Woods raised Univest Corporation of Pennsylvania’s price target from $45 to $47, while keeping a market perform rating. That implies about 5% upside from the prior close.
• UVSP shares rose 1.3% to $44.76, near their 52-week high of $45.46. The stock has a $1.25 billion market cap and trades with a low beta of 0.66.
• The company recently reported quarterly earnings of $0.82 per share, missing estimates of $0.87, and revenue of $84.35 million, also below expectations. Insider selling was notable, with the CEO and a director trimming their holdings in recent months.

Univest Corporation of Pennsylvania (NASDAQ:UVSP - Get Free Report) had its price objective upped by research analysts at Keefe, Bruyette & Woods from $45.00 to $47.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has a "market perform" rating on the financial services provider's stock. Keefe, Bruyette & Woods' price target would suggest a potential upside of 5.02% from the stock's previous close.

Separately, Weiss Ratings raised shares of Univest Corporation of Pennsylvania from a "buy (b)" rating to a "buy (b+)" rating in a research report on Wednesday, July 8th. One research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, Univest Corporation of Pennsylvania currently has a consensus rating of "Hold" and an average price target of $40.50.

Univest Corporation of Pennsylvania Stock Up 1.3%

UVSP stock traded up $0.57 during trading hours on Friday, hitting $44.76. The company's stock had a trading volume of 139,057 shares, compared to its average volume of 195,386. 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 company has a market capitalization of $1.25 billion, a PE ratio of 12.92 and a beta of 0.66. Univest Corporation of Pennsylvania has a 12 month low of $27.91 and a 12 month high of $45.46. The stock has a 50 day moving average price of $41.98 and a two-hundred day moving average price of $37.43.

Univest Corporation of Pennsylvania (NASDAQ:UVSP - Get Free Report) last released its quarterly earnings results on Wednesday, July 22nd. The financial services provider reported $0.82 earnings per share for the quarter, missing analysts' consensus estimates of $0.87 by ($0.05). Univest Corporation of Pennsylvania had a net margin of 18.86% and a return on equity of 10.44%. The business had revenue of $84.35 million for the quarter, compared to the consensus estimate of $86.66 million. On average, equities research analysts expect that Univest Corporation of Pennsylvania will post 3.6 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Natalye Paquin sold 13,000 shares of the company's stock in a transaction on Monday, April 27th. The shares were sold at an average price of $37.80, for a total transaction of $491,400.00. Following the completion of the sale, the director directly owned 17,004 shares of the company's stock, valued at approximately $642,751.20. This represents a 43.33% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jeffrey M. Schweitzer sold 13,933 shares of the company's stock in a transaction on Monday, June 8th. The stock was sold at an average price of $40.91, for a total transaction of $569,999.03. Following the sale, the chief executive officer directly owned 110,513 shares of the company's stock, valued at approximately $4,521,086.83. This represents a 11.20% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 36,268 shares of company stock worth $1,427,334. 1.83% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of UVSP. Russell Investments Group Ltd. bought a new stake in Univest Corporation of Pennsylvania during the second quarter valued at about $42,000. Geneos Wealth Management Inc. increased its stake in shares of Univest Corporation of Pennsylvania by 545.3% in 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 during the period. Osaic Holdings Inc. acquired a new position in shares of Univest Corporation of Pennsylvania during the 2nd quarter worth about $91,000. Tower Research Capital LLC TRC lifted its position in shares of Univest Corporation of Pennsylvania by 69.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,225 shares of the financial services provider's stock worth $97,000 after purchasing an additional 1,324 shares during the last quarter. Finally, Mariner LLC bought a new stake in Univest Corporation of Pennsylvania during the 4th quarter valued at approximately $211,000. Institutional investors own 75.07% 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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