Univest Corporation of Pennsylvania (NASDAQ:UVSP) Price Target Raised to $36.00

Univest Corporation of Pennsylvania (NASDAQ:UVSP) had its price target upped by Keefe, Bruyette & Woods from $34.00 to $36.00 in a research note published on Tuesday morning,Benzinga reports. The brokerage currently has a market perform rating on the financial services provider’s stock.

Other analysts also recently issued research reports about the stock. Zacks Research raised shares of Univest Corporation of Pennsylvania to a “hold” rating in a research report on Thursday, December 4th. Piper Sandler started coverage on Univest Corporation of Pennsylvania in a research note on Wednesday, December 3rd. They set a “neutral” rating and a $34.00 price target on the stock. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Univest Corporation of Pennsylvania in a research note on Monday, December 29th. One research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $35.00.

Univest Corporation of Pennsylvania Price Performance

Shares of NASDAQ UVSP opened at $35.45 on Tuesday. The company has a market capitalization of $1.01 billion, a PE ratio of 11.29 and a beta of 0.69. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.14. Univest Corporation of Pennsylvania has a twelve month low of $22.83 and a twelve month high of $36.00. The firm has a fifty day simple moving average of $33.59 and a 200 day simple moving average of $31.42.

Univest Corporation of Pennsylvania (NASDAQ:UVSP) last issued its quarterly earnings results on Wednesday, January 28th. The financial services provider reported $0.79 earnings per share for the quarter, topping analysts’ consensus estimates of $0.78 by $0.01. The firm had revenue of $84.57 million during the quarter, compared to the consensus estimate of $82.54 million. Univest Corporation of Pennsylvania had a return on equity of 9.89% and a net margin of 17.51%. On average, sell-side analysts forecast that Univest Corporation of Pennsylvania will post 2.36 EPS for the current year.

Univest Corporation of Pennsylvania Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 25th. Shareholders of record on Wednesday, February 11th will be issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend is Wednesday, February 11th. Univest Corporation of Pennsylvania’s payout ratio is currently 28.03%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. BNP Paribas Financial Markets raised its position in Univest Corporation of Pennsylvania by 1.7% in the 2nd quarter. BNP Paribas Financial Markets now owns 22,354 shares of the financial services provider’s stock valued at $672,000 after buying an additional 369 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Univest Corporation of Pennsylvania by 4.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,171 shares of the financial services provider’s stock valued at $487,000 after purchasing an additional 703 shares during the last quarter. Martingale Asset Management L P raised its holdings in shares of Univest Corporation of Pennsylvania by 0.9% in the third quarter. Martingale Asset Management L P now owns 79,091 shares of the financial services provider’s stock valued at $2,374,000 after purchasing an additional 731 shares during the last quarter. Strs Ohio lifted its position in shares of Univest Corporation of Pennsylvania by 3.8% during the third quarter. Strs Ohio now owns 21,800 shares of the financial services provider’s stock valued at $654,000 after purchasing an additional 800 shares in the last quarter. Finally, Savant Capital LLC boosted its holdings in Univest Corporation of Pennsylvania by 8.8% during the second quarter. Savant Capital LLC now owns 10,457 shares of the financial services provider’s stock worth $314,000 after purchasing an additional 846 shares during the last quarter. Hedge funds and other institutional investors own 75.07% of the company’s stock.

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.