Univest Corporation of Pennsylvania (NASDAQ:UVSP) Posts Earnings Results

Key Points

• Earnings beat: Univest reported quarterly EPS of $0.96, beating estimates by $0.15, with a net margin of 17.51% and return on equity of 9.82%.
• Dividend: The company paid a $0.22 quarterly dividend (annualized $0.88) for a yield of 2.4% and a payout ratio of 28.03%.
• Stock and outlook: Shares traded at $36.73 (market cap ~$1.03B) with a P/E of 11.7; analysts' consensus is "Hold" with a $35 target and institutional investors own about 75% of the stock.

Univest Corporation of Pennsylvania (NASDAQ:UVSP - Get Free Report) issued its quarterly earnings data on Wednesday. The financial services provider reported $0.96 EPS for the quarter, topping analysts' consensus estimates of $0.81 by $0.15, Zacks reports. Univest Corporation of Pennsylvania had a net margin of 17.51% and a return on equity of 9.82%.

Univest Corporation of Pennsylvania Trading Up 0.1%

Shares of UVSP stock traded up $0.05 during trading hours on Wednesday, reaching $36.73. 128,839 shares of the stock were exchanged, compared to its average volume of 175,819. Univest Corporation of Pennsylvania has a 12-month low of $27.77 and a 12-month high of $38.22. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.32. The company's 50-day moving average price is $34.68 and its 200-day moving average price is $33.04. The firm has a market capitalization of $1.03 billion, a price-to-earnings ratio of 11.70 and a beta of 0.61.

Univest Corporation of Pennsylvania Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 25th. Investors of record on Wednesday, February 11th were paid a dividend of $0.22 per share. The ex-dividend date of this dividend was Wednesday, February 11th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.4%. Univest Corporation of Pennsylvania's payout ratio is currently 28.03%.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Weiss Ratings reissued a "buy (b)" rating on shares of Univest Corporation of Pennsylvania in a research note on Friday, March 27th. Keefe, Bruyette & Woods lifted their price objective on shares of Univest Corporation of Pennsylvania from $34.00 to $36.00 and gave the stock a "market perform" rating in a research note on Tuesday, February 3rd. One research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Univest Corporation of Pennsylvania has an average rating of "Hold" and a consensus target price of $35.00.

Hedge Funds Weigh In On Univest Corporation of Pennsylvania

A number of large investors have recently made changes to their positions in UVSP. The Manufacturers Life Insurance Company boosted its position in Univest Corporation of Pennsylvania by 15.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,475,872 shares of the financial services provider's stock valued at $44,335,000 after buying an additional 193,561 shares during the period. Goldman Sachs Group Inc. boosted its position in Univest Corporation of Pennsylvania by 38.0% in the 4th quarter. Goldman Sachs Group Inc. now owns 379,679 shares of the financial services provider's stock valued at $12,431,000 after buying an additional 104,516 shares during the period. Jane Street Group LLC purchased a new stake in Univest Corporation of Pennsylvania in the 1st quarter valued at about $1,467,000. Millennium Management LLC boosted its position in Univest Corporation of Pennsylvania by 27.8% in the 3rd quarter. Millennium Management LLC now owns 170,857 shares of the financial services provider's stock valued at $5,129,000 after buying an additional 37,194 shares during the period. Finally, Bank of America Corp DE boosted its position in Univest Corporation of Pennsylvania by 25.9% in the 2nd quarter. Bank of America Corp DE now owns 166,122 shares of the financial services provider's stock valued at $4,990,000 after buying an additional 34,220 shares during the period. 75.07% of the stock is 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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