Univest Corporation of Pennsylvania (NASDAQ:UVSP – Get Free Report) hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $42.00 and last traded at $41.79, with a volume of 181092 shares changing hands. The stock had previously closed at $41.21.
Wall Street Analysts Forecast Growth
Several analysts have recently issued reports on the stock. 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 lifted their target price 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. One equities research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Univest Corporation of Pennsylvania has an average rating of “Hold” and a consensus price target of $37.00.
Check Out Our Latest Report on Univest Corporation of Pennsylvania
Univest Corporation of Pennsylvania Stock Up 1.3%
Univest Corporation of Pennsylvania (NASDAQ:UVSP – Get Free Report) last posted its quarterly earnings results on Wednesday, April 22nd. The financial services provider reported $0.96 earnings per share for the quarter, topping analysts’ consensus estimates of $0.84 by $0.12. The firm had revenue of $87.45 million for the quarter, compared to analyst estimates of $84.85 million. Univest Corporation of Pennsylvania had a net margin of 18.25% and a return on equity of 10.19%. Equities analysts anticipate that Univest Corporation of Pennsylvania will post 3.6 EPS for the current year.
Univest Corporation of Pennsylvania Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 20th. Investors of record on Wednesday, May 6th were given a dividend of $0.23 per share. The ex-dividend date was Wednesday, May 6th. This is a boost 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 2.2%. Univest Corporation of Pennsylvania’s dividend payout ratio (DPR) is presently 27.63%.
Insider Buying and Selling at Univest Corporation of Pennsylvania
In related news, CEO Jeffrey M. Schweitzer sold 13,933 shares of the business’s stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $40.91, for a total transaction of $569,999.03. Following the transaction, the chief executive officer directly owned 110,513 shares in the company, valued at approximately $4,521,086.83. The trade was a 11.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Brian J. Richardson sold 2,090 shares of the business’s stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $40.90, for a total transaction of $85,481.00. Following the transaction, the chief financial officer owned 24,228 shares in the company, valued at $990,925.20. The trade was a 7.94% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 36,268 shares of company stock valued at $1,427,334. Insiders own 1.83% of the company’s stock.
Hedge Funds Weigh In On Univest Corporation of Pennsylvania
A number of institutional investors and hedge funds have recently bought and sold shares of UVSP. Assenagon Asset Management S.A. acquired a new position in Univest Corporation of Pennsylvania in the 1st quarter valued at about $8,819,000. The Manufacturers Life Insurance Company boosted 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 valued at $44,335,000 after purchasing an additional 193,561 shares during the last quarter. UNIVEST FINANCIAL Corp boosted its holdings 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 purchasing an additional 112,203 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in Univest Corporation of Pennsylvania by 38.0% in the 4th 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 during the last quarter. Finally, SG Americas Securities LLC boosted its holdings in Univest Corporation of Pennsylvania by 359.9% in the 1st quarter. SG Americas Securities LLC now owns 99,155 shares of the financial services provider’s stock valued at $3,397,000 after purchasing an additional 77,594 shares during the last quarter. 75.07% of the stock is currently owned by institutional investors and hedge funds.
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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