Univest Corporation of Pennsylvania (NASDAQ:UVSP) Sets New 1-Year High After Better-Than-Expected Earnings

Key Points

• Reached a 52-week high after reporting Q1 EPS of $0.96 versus $0.84 expected and revenue of $87.45 million versus $84.85 million, pushing the stock up to as high as $38.71.
• Dividend increased — the company raised its quarterly dividend to $0.23 (annualized $0.92) for a 2.5% yield, with an ex-dividend date of May 6 and payment on May 20.
• Analyst and valuation context — the consensus rating is "Hold" with a $35 target (below the recent share price); Univest has a market cap of about $1.05 billion, a P/E of 11.9, and roughly 75% institutional ownership.

Univest Corporation of Pennsylvania (NASDAQ:UVSP - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Thursday following a better than expected earnings announcement. The stock traded as high as $38.71 and last traded at $37.3510, with a volume of 25555 shares trading hands. The stock had previously closed at $36.73.

The financial services provider reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.12. Univest Corporation of Pennsylvania had a return on equity of 9.82% and a net margin of 17.51%.The company had revenue of $87.45 million for the quarter, compared to analysts' expectations of $84.85 million.

Univest Corporation of Pennsylvania Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 20th. Stockholders of record on Wednesday, May 6th will be given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend is Wednesday, May 6th. This is a positive change from Univest Corporation of Pennsylvania's previous quarterly dividend of $0.22. Univest Corporation of Pennsylvania's dividend payout ratio is presently 28.03%.

Analysts Set New Price Targets

A number of research firms recently weighed in on UVSP. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Univest Corporation of Pennsylvania in a research report on Friday, March 27th. Keefe, Bruyette & Woods boosted their target price on Univest Corporation of Pennsylvania from $34.00 to $36.00 and gave the company a "market perform" rating in a research report on Tuesday, February 3rd. One research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat, Univest Corporation of Pennsylvania presently has an average rating of "Hold" and a consensus target price of $35.00.

Institutional Investors Weigh In On Univest Corporation of Pennsylvania

Institutional investors and hedge funds have recently bought and sold shares of the stock. State of Alaska Department of Revenue purchased a new stake in shares of Univest Corporation of Pennsylvania in the 3rd quarter valued at about $34,000. Russell Investments Group Ltd. purchased a new position in Univest Corporation of Pennsylvania during the 2nd quarter worth approximately $42,000. Geneos Wealth Management Inc. increased 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 buying an additional 2,252 shares during the period. Osaic Holdings Inc. acquired a new position in Univest Corporation of Pennsylvania during the second quarter worth approximately $91,000. Finally, Tower Research Capital LLC TRC lifted its stake in Univest Corporation of Pennsylvania by 69.6% in the second quarter. Tower Research Capital LLC TRC now owns 3,225 shares of the financial services provider's stock valued at $97,000 after buying an additional 1,324 shares during the last quarter. 75.07% of the stock is owned by hedge funds and other institutional investors.

Univest Corporation of Pennsylvania Price Performance

The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $1.05 billion, a price-to-earnings ratio of 11.89 and a beta of 0.61. The company has a fifty day moving average price of $34.72 and a two-hundred day moving average price of $33.07.

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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