Univest Corporation of Pennsylvania (NASDAQ:UVSP) Hits New 52-Week High - Time to Buy?

Univest Corporation of Pennsylvania (NASDAQ:UVSP - Get Free Report) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $32.77 and last traded at $32.69, with a volume of 111299 shares trading hands. The stock had previously closed at $31.31.

Univest Corporation of Pennsylvania Stock Performance

The firm has a 50 day moving average of $30.04 and a 200-day moving average of $29.40. The company has a market cap of $943.94 million, a P/E ratio of 12.24 and a beta of 0.73. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.17.

Univest Corporation of Pennsylvania (NASDAQ:UVSP - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.64 by $0.13. The business had revenue of $79.20 million for the quarter, compared to the consensus estimate of $77.65 million. Univest Corporation of Pennsylvania had a return on equity of 8.84% and a net margin of 15.54%. As a group, sell-side analysts anticipate that Univest Corporation of Pennsylvania will post 2.36 EPS for the current fiscal year.

Univest Corporation of Pennsylvania Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 21st. Stockholders of record on Wednesday, May 7th were issued a $0.22 dividend. The ex-dividend date of this dividend was Wednesday, May 7th. This represents a $0.88 annualized dividend and a dividend yield of 2.69%. This is a positive change from Univest Corporation of Pennsylvania's previous quarterly dividend of $0.21. Univest Corporation of Pennsylvania's payout ratio is currently 32.96%.

Hedge Funds Weigh In On Univest Corporation of Pennsylvania

Large investors have recently bought and sold shares of the business. Bank of New York Mellon Corp increased its holdings in shares of Univest Corporation of Pennsylvania by 0.5% in the 4th quarter. Bank of New York Mellon Corp now owns 152,028 shares of the financial services provider's stock valued at $4,486,000 after acquiring an additional 807 shares during the period. Victory Capital Management Inc. boosted its position in Univest Corporation of Pennsylvania by 2.5% during the fourth quarter. Victory Capital Management Inc. now owns 28,200 shares of the financial services provider's stock valued at $832,000 after purchasing an additional 700 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Univest Corporation of Pennsylvania in the fourth quarter valued at about $2,299,000. PNC Financial Services Group Inc. raised its holdings in Univest Corporation of Pennsylvania by 14.8% in the fourth quarter. PNC Financial Services Group Inc. now owns 4,796 shares of the financial services provider's stock worth $142,000 after purchasing an additional 617 shares in the last quarter. Finally, AlphaQuest LLC lifted its position in shares of Univest Corporation of Pennsylvania by 93.1% during the fourth quarter. AlphaQuest LLC now owns 14,571 shares of the financial services provider's stock valued at $430,000 after buying an additional 7,024 shares during the last quarter. Institutional investors own 75.07% of the company's stock.

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.