Univest Corporation of Pennsylvania (NASDAQ:UVSP) Increases Dividend to $0.23 Per Share

Univest Corporation of Pennsylvania (NASDAQ:UVSP) announced a quarterly dividend on Wednesday, April 22nd. Shareholders of record on Wednesday, May 6th will be given a dividend of 0.23 per share by the financial services provider on Wednesday, May 20th. This represents a c) dividend on an annualized basis and a yield of 2.5%. The ex-dividend date is Wednesday, May 6th. This is a 4.5% increase from Univest Corporation of Pennsylvania’s previous quarterly dividend of $0.22.

Univest Corporation of Pennsylvania has raised its dividend payment by an average of 0.1%per year over the last three years and has raised its dividend annually for the last 1 consecutive years. Univest Corporation of Pennsylvania has a payout ratio of 30.2% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Univest Corporation of Pennsylvania to earn $3.65 per share next year, which means the company should continue to be able to cover its $0.88 annual dividend with an expected future payout ratio of 24.1%.

Univest Corporation of Pennsylvania Stock Up 0.1%

UVSP opened at $36.73 on Thursday. The business’s fifty day moving average is $34.72 and its two-hundred day moving average is $33.07. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.05 and a current ratio of 1.05. The company has a market cap of $1.03 billion, a price-to-earnings ratio of 11.70 and a beta of 0.61. Univest Corporation of Pennsylvania has a one year low of $27.77 and a one year high of $38.22.

Univest Corporation of Pennsylvania (NASDAQ:UVSP) 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 company had revenue of $87.45 million for the quarter, compared to the consensus estimate of $84.85 million. Univest Corporation of Pennsylvania had a return on equity of 9.82% and a net margin of 17.51%. Analysts anticipate that Univest Corporation of Pennsylvania will post 3.4 EPS for the current fiscal year.

Hedge Funds Weigh In On Univest Corporation of Pennsylvania

A number of institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in shares of Univest Corporation of Pennsylvania by 1.0% in the third quarter. Vanguard Group Inc. now owns 1,741,938 shares of the financial services provider’s stock worth $52,293,000 after acquiring an additional 16,682 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of 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 worth $44,335,000 after acquiring an additional 193,561 shares during the last quarter. Pzena Investment Management LLC raised its holdings in shares of 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 worth $26,745,000 after acquiring an additional 2,693 shares during the last quarter. UNIVEST FINANCIAL Corp raised 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 worth $20,218,000 after acquiring an additional 112,203 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised 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 worth $12,431,000 after acquiring an additional 104,516 shares during the last quarter. 75.07% of the stock is owned by institutional investors and hedge funds.

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.