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

Key Points

• UVSP hit a new 52-week high, trading as high as $44.84 and last changing hands around $44.91, up 2.6% on the day.
• The company’s recent earnings and dividend updates were positive: it beat quarterly EPS estimates and raised its quarterly dividend to $0.23, equal to a 2.0% annualized yield.
• Despite the rally, Wall Street remains cautious overall, with an average Hold rating and a consensus price target of $37.00, while insiders have also sold shares in recent months.

Univest Corporation of Pennsylvania (NASDAQ:UVSP - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $44.84 and last traded at $44.9050, with a volume of 65144 shares. The stock had previously closed at $43.75.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on UVSP. Keefe, Bruyette & Woods upped their price objective on Univest Corporation of Pennsylvania from $37.00 to $40.00 and gave the company 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 report on Wednesday, June 24th. One investment analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat, Univest Corporation of Pennsylvania has an average rating of "Hold" and an average target price of $37.00.

Univest Corporation of Pennsylvania Trading Up 2.6%

The company has a market cap of $1.25 billion, a P/E ratio of 13.48 and a beta of 0.67. The stock's 50-day moving average is $39.89 and its two-hundred day moving average is $36.21. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.02 and a quick ratio of 1.02.

Univest Corporation of Pennsylvania (NASDAQ:UVSP - Get Free Report) last posted its earnings results on Wednesday, April 22nd. The financial services provider reported $0.96 EPS for the quarter, topping analysts' consensus estimates of $0.84 by $0.12. The business had revenue of $87.45 million during the quarter, compared to the consensus estimate of $84.85 million. Univest Corporation of Pennsylvania had a net margin of 18.25% and a return on equity of 10.19%. As a group, equities research analysts predict that Univest Corporation of Pennsylvania will post 3.6 earnings per share for the current fiscal year.

Univest Corporation of Pennsylvania Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 20th. Shareholders of record on Wednesday, May 6th were issued a $0.23 dividend. This is a positive change from Univest Corporation of Pennsylvania's previous quarterly dividend of $0.22. This represents a $0.92 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend was Wednesday, May 6th. Univest Corporation of Pennsylvania's dividend payout ratio is currently 27.63%.

Insider Transactions at Univest Corporation of Pennsylvania

In other Univest Corporation of Pennsylvania news, Director Natalye Paquin sold 13,000 shares of the firm's stock in a transaction dated Monday, April 27th. The stock was sold at an average price of $37.80, for a total value of $491,400.00. Following the transaction, the director directly owned 17,004 shares of the company's stock, valued at approximately $642,751.20. This trade represents a 43.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Michael S. Keim sold 7,245 shares of the business's stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $38.71, for a total value of $280,453.95. Following the sale, the chief operating officer owned 66,979 shares of the company's stock, valued at approximately $2,592,757.09. This represents a 9.76% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 36,268 shares of company stock valued at $1,427,334. Company insiders own 1.83% of the company's stock.

Institutional Trading of Univest Corporation of Pennsylvania

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP grew its position in shares of Univest Corporation of Pennsylvania by 0.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,886,235 shares of the financial services provider's stock valued at $64,622,000 after acquiring an additional 6,965 shares during the period. Vanguard Group Inc. raised its holdings in Univest Corporation of Pennsylvania by 1.0% in the 3rd quarter. Vanguard Group Inc. now owns 1,741,938 shares of the financial services provider's stock worth $52,293,000 after purchasing an additional 16,682 shares during the period. The Manufacturers Life Insurance Company raised its holdings in Univest Corporation of Pennsylvania by 15.1% in the 2nd 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 valued at $20,218,000 after purchasing an additional 112,203 shares in the last quarter. Finally, 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 valued at $12,431,000 after purchasing an additional 104,516 shares in the last quarter. 75.07% of the stock is owned by hedge funds and other institutional investors.

Univest Corporation of Pennsylvania Company Profile

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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