Univest Corporation of Pennsylvania (NASDAQ:UVSP) Shares Pass Above 200 Day Moving Average - What's Next?

Key Points

• UVSP shares moved above their 200-day moving average, trading as high as $42.47 and last changing hands at $41.64. The move came alongside heavier volume of 355,751 shares.
• The company posted stronger-than-expected quarterly results, reporting EPS of $0.96 versus the $0.84 consensus and revenue of $87.45 million versus estimates of $84.85 million. Analysts currently have a mixed view, with an overall "Hold" rating and a consensus target price of $37.00.
• Univest raised its quarterly dividend to $0.23 per share from $0.22, implying an annualized yield of 2.2%. The company also saw insider selling, while institutional investors continue to own the vast majority of shares.

Univest Corporation of Pennsylvania (NASDAQ:UVSP - Get Free Report)'s share price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $35.65 and traded as high as $42.47. Univest Corporation of Pennsylvania shares last traded at $41.64, with a volume of 355,751 shares traded.

Analysts Set New Price Targets

A number of analysts recently weighed in on UVSP shares. Keefe, Bruyette & Woods increased their price target on shares of 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 reissued a "buy (b)" rating on shares of Univest Corporation of Pennsylvania in a research note on Friday, March 27th. One investment analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $37.00.

Univest Corporation of Pennsylvania Price Performance

The company has a debt-to-equity ratio of 0.10, a current ratio of 1.02 and a quick ratio of 1.02. The company's 50-day moving average price is $38.91 and its 200-day moving average price is $35.65. The company has a market cap of $1.16 billion, a P/E ratio of 12.50 and a beta of 0.67.

Univest Corporation of Pennsylvania (NASDAQ:UVSP - Get Free Report) last posted its quarterly earnings data on Wednesday, April 22nd. The financial services provider reported $0.96 EPS for the quarter, beating the consensus estimate of $0.84 by $0.12. The business had revenue of $87.45 million for the quarter, compared to analysts' expectations 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, sell-side 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 declared a quarterly dividend, which was paid on Wednesday, May 20th. Stockholders of record on Wednesday, May 6th were issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.2%. This is a positive change from Univest Corporation of Pennsylvania's previous quarterly dividend of $0.22. The ex-dividend date was Wednesday, May 6th. Univest Corporation of Pennsylvania's dividend payout ratio is presently 27.63%.

Insider Transactions at Univest Corporation of Pennsylvania

In related news, COO Michael S. Keim sold 7,245 shares of Univest Corporation of Pennsylvania stock in a transaction that occurred on Tuesday, May 5th. The stock was 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 trade represents a 9.76% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Natalye Paquin sold 13,000 shares of the business's stock in a transaction that occurred on Monday, April 27th. The shares were sold at an average price of $37.80, for a total value of $491,400.00. Following the completion of the sale, the director owned 17,004 shares in the company, valued at $642,751.20. The trade was a 43.33% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 36,268 shares of company stock valued at $1,427,334 over the last three months. 1.83% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Univest Corporation of Pennsylvania

Several hedge funds have recently made changes to their positions in UVSP. Dimensional Fund Advisors LP lifted its position in shares of Univest Corporation of Pennsylvania by 0.4% in the first quarter. Dimensional Fund Advisors LP now owns 1,886,235 shares of the financial services provider's stock worth $64,622,000 after purchasing an additional 6,965 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Univest Corporation of Pennsylvania by 1.0% during the third 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 last quarter. The Manufacturers Life Insurance Company grew its position in Univest Corporation of Pennsylvania by 15.1% in the second quarter. The Manufacturers Life Insurance Company now owns 1,475,872 shares of the financial services provider's stock valued at $44,335,000 after purchasing an additional 193,561 shares in the last quarter. Pzena Investment Management LLC grew its position in Univest Corporation of Pennsylvania by 0.3% in the third quarter. Pzena Investment Management LLC now owns 890,902 shares of the financial services provider's stock valued at $26,745,000 after purchasing an additional 2,693 shares in the last quarter. Finally, UNIVEST FINANCIAL Corp increased its stake in Univest Corporation of Pennsylvania by 22.2% in the 4th 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 during the last quarter. 75.07% of the stock is owned by 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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