Univest Corporation of Pennsylvania (NASDAQ:UVSP) Announces $0.22 Quarterly Dividend

Key Points

• Univest Corporation of Pennsylvania has declared a quarterly dividend of $0.22 per share, with stockholders of record set to receive payment on November 19th, 2023.
• The company maintains a payout ratio of 30.2%, indicating its dividend is well-supported by earnings, and analysts predict the earnings per share will be $2.80 next year.
• Univest's stock is currently priced at approximately $29.84, with a market cap of $859.69 million and a price-to-earnings ratio of 10.89.

Univest Corporation of Pennsylvania (NASDAQ:UVSP - Get Free Report) declared a quarterly dividend on Thursday, October 23rd. Stockholders of record on Wednesday, November 5th will be paid a dividend of 0.22 per share by the financial services provider on Wednesday, November 19th. This represents a c) dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date is Wednesday, November 5th.

Univest Corporation of Pennsylvania has a payout ratio of 30.2% meaning its dividend is sufficiently covered by earnings. Analysts expect Univest Corporation of Pennsylvania to earn $2.80 per share next year, which means the company should continue to be able to cover its $0.88 annual dividend with an expected future payout ratio of 31.4%.

Univest Corporation of Pennsylvania Stock Performance

NASDAQ UVSP opened at $29.84 on Thursday. Univest Corporation of Pennsylvania has a 1 year low of $22.83 and a 1 year high of $32.86. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.02 and a quick ratio of 1.02. The firm has a market cap of $859.69 million, a price-to-earnings ratio of 10.89 and a beta of 0.72. The company has a fifty day moving average price of $30.47 and a 200-day moving average price of $29.90.

Univest Corporation of Pennsylvania (NASDAQ:UVSP - Get Free Report) last posted its quarterly earnings results on Tuesday, February 8th. The financial services provider reported $0.52 earnings per share for the quarter. The company had revenue of $62.30 million during the quarter. Univest Corporation of Pennsylvania had a return on equity of 8.92% and a net margin of 15.71%. As a group, equities research analysts predict that Univest Corporation of Pennsylvania will post 2.36 EPS for the current fiscal year.

Insider Activity

In other news, Director Thomas M. Petro sold 9,000 shares of the business's stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $31.75, for a total transaction of $285,750.00. Following the transaction, the director directly owned 50,193 shares of the company's stock, valued at approximately $1,593,627.75. The trade was a 15.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.70% of the company's stock.

Institutional Investors Weigh In On Univest Corporation of Pennsylvania

Hedge funds have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. bought a new position in shares of Univest Corporation of Pennsylvania during the second quarter valued at $42,000. Geneos Wealth Management Inc. lifted its holdings in shares of 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 valued at $76,000 after purchasing an additional 2,252 shares in the last quarter. Osaic Holdings Inc. bought a new position in shares of Univest Corporation of Pennsylvania during the second quarter valued at $91,000. Tower Research Capital LLC TRC lifted its holdings in shares of 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 purchasing an additional 1,324 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its holdings in shares of Univest Corporation of Pennsylvania by 22.4% during the first quarter. PNC Financial Services Group Inc. now owns 5,872 shares of the financial services provider's stock valued at $167,000 after purchasing an additional 1,076 shares in the last quarter. 75.07% of the stock is owned by institutional investors.

Univest Corporation of Pennsylvania Company Profile

Univest Financial Corporation operates as the bank holding company for Univest Bank and Trust Co that provides banking products and services primarily in the United States. It operates through three segments: Banking, Wealth Management, and Insurance. The Banking segment offers a range of banking services, such as deposit taking, loan origination and servicing, mortgage banking, other general banking, and equipment lease financing services for individuals, businesses, municipalities, and nonprofit organizations.

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