Univest Corporation of Pennsylvania (NASDAQ:UVSP) Stock Price Crosses Above 200 Day Moving Average - Here's Why

Key Points

• UVSP shares moved above their 200-day moving average, reaching $42.59 and last trading at $42.57, compared with a 200-day average of $39.59.
• Analyst sentiment improved, with Weiss Ratings upgrading the stock to “buy (a-)” and Zacks Research raising it to “strong buy.” The consensus rating is “Buy,” with a $40.50 price target.
• Univest reported quarterly EPS of $0.82, below the $0.87 estimate, but revenue of $89.59 million exceeded expectations. The company also maintains a $0.23 quarterly dividend, equivalent to a 2.2% yield.

Shares of Univest Corporation of Pennsylvania (NASDAQ:UVSP - Get Free Report) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $39.59 and traded as high as $42.59. Univest Corporation of Pennsylvania shares last traded at $42.57, with a volume of 369,171 shares.

Analyst Ratings Changes

Several equities analysts have weighed in on UVSP shares. Weiss Ratings upgraded Univest Corporation of Pennsylvania from a "buy (b+)" rating to a "buy (a-)" rating in a report on Tuesday, July 28th. Zacks Research raised shares of Univest Corporation of Pennsylvania from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, July 28th. Finally, Keefe, Bruyette & Woods upped their price objective on Univest Corporation of Pennsylvania from $45.00 to $47.00 and gave the company a "market perform" rating in a research report on Friday, July 24th. Two research analysts have rated the stock with a Strong Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $40.50.

Univest Corporation of Pennsylvania Price Performance

The firm has a 50 day simple moving average of $43.16 and a 200-day simple moving average of $39.59. 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 cap of $1.17 billion, a PE ratio of 12.30 and a beta of 0.65.

Univest Corporation of Pennsylvania (NASDAQ:UVSP - Get Free Report) last posted 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). Univest Corporation of Pennsylvania had a net margin of 18.86% and a return on equity of 10.41%. The firm had revenue of $89.59 million for the quarter, compared to analysts' expectations of $86.66 million. As a group, research analysts predict that Univest Corporation of Pennsylvania will post 3.67 earnings per share for the current fiscal year.

Univest Corporation of Pennsylvania Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 19th. Stockholders of record on Wednesday, August 5th were issued a dividend of $0.23 per share. The ex-dividend date was Wednesday, August 5th. This represents a $0.92 annualized dividend and a dividend yield of 2.2%. Univest Corporation of Pennsylvania's dividend payout ratio is 26.59%.

Insider Activity

In other news, Director Michael Turner sold 8,000 shares of Univest Corporation of Pennsylvania stock in a transaction 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 completion of the sale, the director directly owned 24,684 shares in the company, valued at approximately $1,062,152.52. The trade was a 24.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 1.83% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. SG Americas Securities LLC raised its position in Univest Corporation of Pennsylvania by 359.9% during the first quarter. SG Americas Securities LLC now owns 99,155 shares of the financial services provider's stock valued at $3,397,000 after acquiring an additional 77,594 shares in the last quarter. Principal Financial Group Inc. acquired a new stake in Univest Corporation of Pennsylvania in the first quarter valued at approximately $1,246,000. Sei Investments Co. grew its holdings in Univest Corporation of Pennsylvania by 12.1% in the first quarter. Sei Investments Co. now owns 271,772 shares of the financial services provider's stock valued at $9,311,000 after purchasing an additional 29,247 shares during the period. Bank of America Corp DE increased its position in shares of Univest Corporation of Pennsylvania by 18.1% in the first quarter. Bank of America Corp DE now owns 225,853 shares of the financial services provider's stock valued at $7,738,000 after buying an additional 34,557 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its holdings in Univest Corporation of Pennsylvania by 39.2% in the 2nd quarter. Assenagon Asset Management S.A. now owns 358,183 shares of the financial services provider's stock worth $15,671,000 after acquiring an additional 100,780 shares in the last quarter. 75.07% of the stock is currently owned by hedge funds and other 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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