Univest Corporation of Pennsylvania (NASDAQ:UVSP) Reaches New 12-Month High - What's Next?

Key Points

• 52-week high: UVSP reached a new 52-week high of $38.86 on Tuesday, and Keefe, Bruyette & Woods raised its price target to $40 while MarketBeat's consensus remains a "Hold" with a $37 target.
• Earnings beat: Univest reported Q1 EPS of $0.96 versus $0.84 expected and revenue of $87.45M (above $84.85M consensus), with a 10.19% ROE and 18.25% net margin.
• Dividend and insider activity: The board raised the quarterly dividend to $0.23 (2.4% yield, ex-dividend May 6), while a director sold 13,000 shares recently; institutional ownership stands around 75%.

Univest Corporation of Pennsylvania (NASDAQ:UVSP - Get Free Report)'s stock price reached a new 52-week high on Tuesday . The stock traded as high as $38.86 and last traded at $38.8450, with a volume of 20712 shares. The stock had previously closed at $38.16.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Keefe, Bruyette & Woods boosted their price target on Univest Corporation of Pennsylvania from $37.00 to $40.00 and gave the stock a "market perform" rating in a research report on Friday, April 24th. Weiss Ratings reaffirmed 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 company's stock. According to MarketBeat, Univest Corporation of Pennsylvania has a consensus rating of "Hold" and a consensus price target of $37.00.

Univest Corporation of Pennsylvania Price Performance

The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.10. The company has a 50 day moving average price of $35.04 and a 200 day moving average price of $33.43. The company has a market capitalization of $1.08 billion, a P/E ratio of 11.61 and a beta of 0.67.

Univest Corporation of Pennsylvania (NASDAQ:UVSP - Get Free Report) last issued its earnings results on Wednesday, April 22nd. The financial services provider reported $0.96 EPS for the quarter, topping the consensus estimate of $0.84 by $0.12. Univest Corporation of Pennsylvania had a return on equity of 10.19% and a net margin of 18.25%.The company had revenue of $87.45 million during the quarter, compared to the consensus estimate of $84.85 million. On average, equities analysts predict that Univest Corporation of Pennsylvania will post 3.4 EPS for the current fiscal year.

Univest Corporation of Pennsylvania Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 20th. Investors of record on Wednesday, May 6th will be paid a $0.23 dividend. This is a boost from Univest Corporation of Pennsylvania's previous quarterly dividend of $0.22. The ex-dividend date is Wednesday, May 6th. This represents a $0.92 annualized dividend and a yield of 2.4%. Univest Corporation of Pennsylvania's dividend payout ratio is presently 27.63%.

Insider Transactions at Univest Corporation of Pennsylvania

In related news, Director Natalye Paquin sold 13,000 shares of the business's stock in a transaction on Monday, April 27th. The stock was sold at an average price of $37.80, for a total value of $491,400.00. Following the completion of the sale, the director directly owned 17,004 shares in the company, valued at $642,751.20. The trade was a 43.33% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 1.83% of the stock is owned by company insiders.

Institutional Trading of Univest Corporation of Pennsylvania

Several institutional investors have recently added to or reduced their stakes in UVSP. Assenagon Asset Management S.A. bought a new stake in Univest Corporation of Pennsylvania in the 1st quarter valued at $8,819,000. The Manufacturers Life Insurance Company lifted its position in 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. UNIVEST FINANCIAL Corp lifted its position in 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. Goldman Sachs Group Inc. lifted its position in 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. Finally, SG Americas Securities LLC increased its holdings in Univest Corporation of Pennsylvania by 359.9% in the 1st quarter. SG Americas Securities LLC now owns 99,155 shares of the financial services provider's stock worth $3,397,000 after purchasing an additional 77,594 shares in the last quarter. 75.07% of the stock is currently owned by institutional investors.

About Univest Corporation of Pennsylvania

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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