Michael Turner Sells 8,000 Shares of Univest Corporation of Pennsylvania (NASDAQ:UVSP) Stock

Key Points

• Director Michael Turner sold 8,000 UVSP shares at an average price of $43.03, totaling $344,240. The sale reduced his direct holdings by 24.48% to 24,684 shares.
• UVSP shares rose 0.4% to $43.15, while the company reported quarterly EPS of $0.82—below the $0.87 consensus estimate—but revenue of $89.59 million exceeded expectations.
• Univest declared a quarterly dividend of $0.23, equivalent to $0.92 annually and a 2.1% yield. Analysts maintain a consensus “Buy” rating, with an average price target of $40.50.

Univest Corporation of Pennsylvania (NASDAQ:UVSP - Get Free Report) Director Michael Turner sold 8,000 shares of the firm's stock in a transaction 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 of the company's stock, valued at approximately $1,062,152.52. This trade represents a 24.48% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Univest Corporation of Pennsylvania Stock Up 0.4%

Shares of UVSP stock traded up $0.18 on Friday, reaching $43.15. 40,199 shares of the company's stock traded hands, compared to its average volume of 204,057. The company has a market capitalization of $1.19 billion, a P/E ratio of 12.46 and a beta of 0.66. Univest Corporation of Pennsylvania has a 12-month low of $28.03 and a 12-month high of $45.46. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.02 and a current ratio of 1.02. The business's 50 day moving average price is $43.37 and its two-hundred day moving average price is $38.55.

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). Univest Corporation of Pennsylvania had a return on equity of 10.41% and a net margin of 18.86%.The business had revenue of $89.59 million during the quarter, compared to analysts' expectations of $86.66 million. On average, equities analysts forecast that Univest Corporation of Pennsylvania will post 3.67 earnings per share for the current year.

Univest Corporation of Pennsylvania Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 19th. Stockholders of record on Wednesday, August 5th will be given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend is Wednesday, August 5th. Univest Corporation of Pennsylvania's dividend payout ratio is 26.59%.

Institutional Trading of Univest Corporation of Pennsylvania

Several large investors have recently added to or reduced their stakes in the business. Russell Investments Group Ltd. bought a new position in shares of Univest Corporation of Pennsylvania during the 2nd quarter valued at $42,000. Geneos Wealth Management Inc. increased 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 worth $76,000 after buying an additional 2,252 shares during the last quarter. Osaic Holdings Inc. acquired a new position in Univest Corporation of Pennsylvania during the second quarter worth $91,000. Tower Research Capital LLC TRC raised its holdings 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 valued at $97,000 after buying an additional 1,324 shares in the last quarter. Finally, Mariner LLC acquired a new stake in shares of Univest Corporation of Pennsylvania in the fourth quarter worth about $211,000. 75.07% of the stock is owned by institutional investors.

Analysts Set New Price Targets

UVSP has been the topic of a number of research analyst reports. Zacks Research raised shares of Univest Corporation of Pennsylvania from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, July 28th. Keefe, Bruyette & Woods boosted their price target on shares of 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, Weiss Ratings raised shares of Univest Corporation of Pennsylvania from a "buy (b+)" rating to a "buy (a-)" rating in a research note on Tuesday, July 28th. Two investment analysts have rated the stock with a Strong Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $40.50.

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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