Univest Corporation of Pennsylvania (NASDAQ:UVSP) Sets New 12-Month High - Here's Why

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

Univest Corporation of Pennsylvania Stock Performance

The stock's 50 day moving average price is $30.04 and its two-hundred day moving average price is $29.40. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $943.94 million, a price-to-earnings ratio of 12.24 and a beta of 0.73.

Univest Corporation of Pennsylvania (NASDAQ:UVSP - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The financial services provider reported $0.77 EPS for the quarter, topping analysts' consensus estimates of $0.64 by $0.13. Univest Corporation of Pennsylvania had a net margin of 15.54% and a return on equity of 8.84%. The firm had revenue of $79.20 million for the quarter, compared to the consensus estimate of $77.65 million. On average, analysts forecast that Univest Corporation of Pennsylvania will post 2.36 EPS for the current year.

Univest Corporation of Pennsylvania Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 21st. Investors 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 dividend on an annualized basis and a dividend yield of 2.69%. This is a boost from Univest Corporation of Pennsylvania's previous quarterly dividend of $0.21. Univest Corporation of Pennsylvania's dividend payout ratio is currently 32.96%.

Hedge Funds Weigh In On Univest Corporation of Pennsylvania

Hedge funds and other institutional investors have recently bought and sold shares of the company. Tower Research Capital LLC TRC grew its holdings in Univest Corporation of Pennsylvania by 161.2% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,003 shares of the financial services provider's stock valued at $30,000 after purchasing an additional 619 shares during the last quarter. Geneos Wealth Management Inc. raised its position in 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 worth $76,000 after acquiring an additional 2,252 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of 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 valued at $142,000 after purchasing an additional 617 shares in the last quarter. XTX Topco Ltd acquired a new stake in shares of Univest Corporation of Pennsylvania in the first quarter valued at approximately $221,000. Finally, Ieq Capital LLC acquired a new stake in shares of Univest Corporation of Pennsylvania in the first quarter valued at approximately $229,000. 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.