Univest Corporation of Pennsylvania (NASDAQ:UVSP) Share Price Passes Above Two Hundred Day Moving Average - What's Next?

Key Points

• UVSP shares moved above their 200-day moving average, trading as high as $42.00 versus the $38.97 average, and last changing hands at $41.77.
• Analyst sentiment is generally positive: the stock carries an average “Buy” rating and a $40.50 consensus price target, while recent firms issued upgrades and raised targets.
• Univest reported quarterly EPS of $0.82, below the $0.87 consensus, but revenue exceeded expectations. The company also maintains a quarterly dividend of $0.23, or $0.92 annually, yielding about 2.2%.

Univest Corporation of Pennsylvania (NASDAQ:UVSP - Get Free Report)'s stock price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $38.97 and traded as high as $42.00. Univest Corporation of Pennsylvania shares last traded at $41.77, with a volume of 189,553 shares.

Wall Street Analyst Weigh In

A number of research firms recently commented on UVSP. Zacks Research raised Univest Corporation of Pennsylvania from a "hold" rating to a "strong-buy" rating in a report on Tuesday, July 28th. Keefe, Bruyette & Woods increased their price target on shares of Univest Corporation of Pennsylvania from $45.00 to $47.00 and gave the stock a "market perform" rating in a report on Friday, July 24th. Finally, Weiss Ratings upgraded 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 equities research analysts have rated the stock with a Strong Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Buy" and an average price target of $40.50.

Univest Corporation of Pennsylvania Price Performance

The firm has a market cap of $1.15 billion, a PE ratio of 12.07 and a beta of 0.66. The stock has a 50 day simple moving average of $43.47 and a two-hundred day simple moving average of $38.97. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.02 and a current ratio of 1.02.

Univest Corporation of Pennsylvania (NASDAQ:UVSP - Get Free Report) last issued its earnings results on Thursday, July 23rd. The financial services provider reported $0.82 EPS for the quarter, missing analysts' consensus estimates of $0.87 by ($0.05). The company had revenue of $89.59 million during the quarter, compared to analysts' expectations of $86.66 million. Univest Corporation of Pennsylvania had a return on equity of 10.41% and a net margin of 18.86%. Sell-side analysts expect that Univest Corporation of Pennsylvania will post 3.67 earnings per share for the current year.

Univest Corporation of Pennsylvania Announces Dividend

The business also recently declared 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 payout ratio is presently 26.59%.

Insiders Place Their Bets

In other news, CEO Jeffrey M. Schweitzer sold 13,933 shares of the firm's stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $40.91, for a total transaction of $569,999.03. Following the sale, the chief executive officer owned 110,513 shares of the company's stock, valued at $4,521,086.83. This trade represents a 11.20% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Michael L. Turner sold 8,000 shares of Univest Corporation of Pennsylvania stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $43.03, for a total transaction of $344,240.00. Following the transaction, 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 24,023 shares of company stock worth $999,720. Corporate insiders own 1.83% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. acquired a new position in shares of Univest Corporation of Pennsylvania in the second quarter worth about $42,000. Geneos Wealth Management Inc. grew its position in shares of 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 during the period. Osaic Holdings Inc. acquired a new position in Univest Corporation of Pennsylvania in the 2nd quarter worth about $91,000. Tower Research Capital LLC TRC raised its holdings in 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 worth $97,000 after purchasing an additional 1,324 shares during the period. Finally, Mariner LLC purchased a new position in Univest Corporation of Pennsylvania during the fourth quarter worth approximately $211,000. Hedge funds and other institutional investors own 75.07% of the company's stock.

About Univest Corporation of Pennsylvania

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source