Univest Corporation of Pennsylvania (NASDAQ:UVSP) Given New $40.00 Price Target at Keefe, Bruyette & Woods

Key Points

• Keefe, Bruyette & Woods raised its price target on Univest to $40.00 from $37.00 and maintains a "market perform" rating, implying roughly a 5.9% upside from the prior close.
• Univest beat quarterly expectations, reporting $0.96 EPS versus $0.84 expected and $87.45 million in revenue versus $84.85 million, with the stock trading at $37.78 on the report.
• Analyst views are mixed: Weiss Ratings reissued a "Buy" while MarketBeat's average is "Hold" with a $37 target, and institutional ownership is high at about 75.07% with major funds increasing stakes.

Univest Corporation of Pennsylvania (NASDAQ:UVSP - Get Free Report) had its price objective boosted by equities research analysts at Keefe, Bruyette & Woods from $37.00 to $40.00 in a research report issued on Friday,Benzinga reports. The firm presently has a "market perform" rating on the financial services provider's stock. Keefe, Bruyette & Woods' price target would indicate a potential upside of 5.88% from the stock's previous close.

Separately, Weiss Ratings reissued a "buy (b)" rating on shares of Univest Corporation of Pennsylvania in a research report on Friday, March 27th. One research analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, Univest Corporation of Pennsylvania has an average rating of "Hold" and an average target price of $37.00.

Univest Corporation of Pennsylvania Stock Up 0.7%

NASDAQ UVSP traded up $0.27 during trading hours on Friday, hitting $37.78. 72,266 shares of the company traded hands, compared to its average volume of 176,257. The business's 50-day moving average is $34.78 and its 200-day moving average is $33.10. Univest Corporation of Pennsylvania has a twelve month low of $27.91 and a twelve month high of $38.71. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.05 and a current ratio of 1.05. The stock has a market capitalization of $1.06 billion, a price-to-earnings ratio of 11.36 and a beta of 0.61.

Univest Corporation of Pennsylvania (NASDAQ:UVSP - Get Free Report) last issued its quarterly earnings results on Wednesday, April 22nd. The financial services provider reported $0.96 EPS for the quarter, beating the consensus estimate of $0.84 by $0.12. Univest Corporation of Pennsylvania had a return on equity of 10.25% and a net margin of 18.25%.The firm had revenue of $87.45 million during the quarter, compared to analysts' expectations of $84.85 million. Sell-side analysts anticipate that Univest Corporation of Pennsylvania will post 3.4 earnings per share for the current year.

Institutional Trading of Univest Corporation of Pennsylvania

Hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in shares of Univest Corporation of Pennsylvania by 1.0% during the third quarter. Vanguard Group Inc. now owns 1,741,938 shares of the financial services provider's stock worth $52,293,000 after purchasing an additional 16,682 shares during the period. The Manufacturers Life Insurance Company increased its stake in shares of Univest Corporation of Pennsylvania by 15.1% during the second quarter. The Manufacturers Life Insurance Company now owns 1,475,872 shares of the financial services provider's stock worth $44,335,000 after purchasing an additional 193,561 shares during the period. Pzena Investment Management LLC increased its stake in shares of Univest Corporation of Pennsylvania by 0.3% during the third quarter. Pzena Investment Management LLC now owns 890,902 shares of the financial services provider's stock worth $26,745,000 after purchasing an additional 2,693 shares during the period. UNIVEST FINANCIAL Corp increased its stake in shares of Univest Corporation of Pennsylvania by 22.2% during the fourth quarter. UNIVEST FINANCIAL Corp now owns 617,526 shares of the financial services provider's stock worth $20,218,000 after purchasing an additional 112,203 shares during the period. Finally, Goldman Sachs Group Inc. increased its stake in shares of Univest Corporation of Pennsylvania by 38.0% during the fourth quarter. Goldman Sachs Group Inc. now owns 379,679 shares of the financial services provider's stock worth $12,431,000 after purchasing an additional 104,516 shares during the period. 75.07% of the stock is owned by institutional investors and hedge funds.

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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