Univest Corporation of Pennsylvania (NASDAQ:UVSP) Sets New 12-Month High - Should You Buy?

Key Points

• Univest (NASDAQ:UVSP) hit a new 52-week high intraday at $37.11 (last $36.895) on Wednesday, trading volume ~17,480 shares and sitting above its 50‑day ($34.18) and 200‑day ($32.56) moving averages.
• Analysts hold a consensus rating of Hold with a $35.00 price target (one Buy, three Holds), leaving the current share price above the average analyst target.
• The company reported a slight earnings beat for the quarter ($0.79 vs. $0.78) with revenue also above expectations; Univest has a $1.04B market cap, P/E of 11.75, ROE 9.82%, a 2.4% dividend yield (28% payout ratio), and ~75% institutional ownership.

Univest Corporation of Pennsylvania (NASDAQ:UVSP - Get Free Report) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $37.11 and last traded at $36.8950, with a volume of 17480 shares. The stock had previously closed at $35.79.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Weiss Ratings reiterated a "buy (b)" rating on shares of Univest Corporation of Pennsylvania in a research report on Friday, March 27th. Keefe, Bruyette & Woods boosted their price objective on Univest Corporation of Pennsylvania from $34.00 to $36.00 and gave the stock 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 given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $35.00.

Univest Corporation of Pennsylvania Stock Performance

The stock has a market cap of $1.04 billion, a P/E ratio of 11.75 and a beta of 0.61. The company has a fifty day moving average of $34.18 and a 200 day moving average of $32.56. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.05 and a quick ratio of 1.05.

Univest Corporation of Pennsylvania (NASDAQ:UVSP - Get Free Report) last announced its earnings results on Thursday, January 29th. The financial services provider reported $0.79 EPS for the quarter, topping the consensus estimate of $0.78 by $0.01. Univest Corporation of Pennsylvania had a return on equity of 9.82% and a net margin of 17.51%.The firm had revenue of $84.57 million for the quarter, compared to analysts' expectations of $82.54 million. On average, equities analysts predict that Univest Corporation of Pennsylvania will post 2.36 earnings per share for the current fiscal year.

Univest Corporation of Pennsylvania Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 25th. Investors of record on Wednesday, February 11th were issued a dividend of $0.22 per share. The ex-dividend date of this dividend was Wednesday, February 11th. This represents a $0.88 annualized dividend and a yield of 2.4%. Univest Corporation of Pennsylvania's payout ratio is presently 28.03%.

Institutional Investors Weigh In On Univest Corporation of Pennsylvania

Several hedge funds and other institutional investors have recently added to or reduced their stakes in UVSP. The Manufacturers Life Insurance Company raised its holdings 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 in the last quarter. UNIVEST FINANCIAL Corp increased its holdings in shares of Univest Corporation of Pennsylvania by 22.2% in the fourth quarter. UNIVEST FINANCIAL Corp now owns 617,526 shares of the financial services provider's stock valued at $20,218,000 after buying an additional 112,203 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Univest Corporation of Pennsylvania by 38.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 379,679 shares of the financial services provider's stock valued at $12,431,000 after buying an additional 104,516 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in shares of Univest Corporation of Pennsylvania by 26.9% in the second quarter. Arrowstreet Capital Limited Partnership now owns 359,737 shares of the financial services provider's stock valued at $10,806,000 after buying an additional 76,242 shares in the last quarter. Finally, Jane Street Group LLC bought a new position in shares of Univest Corporation of Pennsylvania in the first quarter valued at $1,467,000. Institutional investors own 75.07% of the company's stock.

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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