Univest Corporation of Pennsylvania (NASDAQ:UVSP) Posts Quarterly Earnings Results, Beats Estimates By $0.13 EPS

Key Points

• Univest Corporation of Pennsylvania reported quarterly earnings of $0.89 EPS, exceeding the consensus estimate of $0.76 by $0.13.
• The company has a market capitalization of $859.54 million and a P/E ratio of 10.89.
• Hedge funds now own 75.07% of Univest's stock, indicating strong institutional interest in the company.

Univest Corporation of Pennsylvania (NASDAQ:UVSP - Get Free Report) posted its earnings results on Wednesday. The financial services provider reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.76 by $0.13, Zacks reports. Univest Corporation of Pennsylvania had a return on equity of 8.92% and a net margin of 15.71%.

Univest Corporation of Pennsylvania Price Performance

Shares of UVSP traded up $0.38 during mid-day trading on Wednesday, hitting $29.84. The company's stock had a trading volume of 119,293 shares, compared to its average volume of 108,927. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.16. The firm has a 50-day simple moving average of $30.49 and a 200 day simple moving average of $29.90. The firm has a market capitalization of $859.54 million, a P/E ratio of 10.89 and a beta of 0.72. Univest Corporation of Pennsylvania has a 1-year low of $22.83 and a 1-year high of $32.86.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Univest Corporation of Pennsylvania in a research report on Tuesday, October 14th. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $29.00.

Insider Activity at Univest Corporation of Pennsylvania

In other news, Director Thomas M. Petro sold 9,000 shares of the firm'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 value of $285,750.00. Following the completion of the sale, the director directly owned 50,193 shares of the company's stock, valued at $1,593,627.75. This trade represents a 15.20% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.70% of the stock is owned by corporate insiders.

Institutional Trading of Univest Corporation of Pennsylvania

Hedge funds have recently modified their holdings of the business. Jane Street Group LLC acquired a new stake in shares of Univest Corporation of Pennsylvania in the 1st quarter valued at approximately $1,467,000. Legal & General Group Plc lifted its holdings in shares of Univest Corporation of Pennsylvania by 8.1% in the 2nd quarter. Legal & General Group Plc now owns 30,612 shares of the financial services provider's stock valued at $920,000 after buying an additional 2,291 shares during the period. BNP Paribas Financial Markets increased its stake in Univest Corporation of Pennsylvania by 1.7% in the 2nd quarter. BNP Paribas Financial Markets now owns 22,354 shares of the financial services provider's stock valued at $672,000 after purchasing an additional 369 shares in the last quarter. Gabelli Funds LLC purchased a new position in Univest Corporation of Pennsylvania in the 2nd quarter valued at approximately $589,000. Finally, Rafferty Asset Management LLC increased its stake in Univest Corporation of Pennsylvania by 16.1% in the 2nd quarter. Rafferty Asset Management LLC now owns 18,792 shares of the financial services provider's stock valued at $565,000 after purchasing an additional 2,608 shares in the last quarter. 75.07% of the stock is owned by institutional investors and hedge funds.

About Univest Corporation of Pennsylvania

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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