Univest Corporation of Pennsylvania (NASDAQ:UVSP) Hits New 12-Month High – What’s Next?

Univest Corporation of Pennsylvania (NASDAQ:UVSP) reached 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 traded. The stock had previously closed at $43.75.

Analyst Ratings Changes

A number of analysts recently weighed in on the company. Keefe, Bruyette & Woods lifted their price target on Univest Corporation of Pennsylvania from $37.00 to $40.00 and gave the company a “market perform” rating in a research note on Friday, April 24th. Weiss Ratings reiterated a “buy (b)” rating on shares of Univest Corporation of Pennsylvania in a research report on Wednesday, June 24th. One investment analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Univest Corporation of Pennsylvania currently has an average rating of “Hold” and a consensus price target of $37.00.

Univest Corporation of Pennsylvania Stock Performance

The stock’s fifty day simple moving average is $40.20 and its 200-day simple moving average is $36.34. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.10. The company has a market capitalization of $1.23 billion, a PE ratio of 13.25 and a beta of 0.66.

Univest Corporation of Pennsylvania (NASDAQ:UVSP) last announced its quarterly earnings results on Wednesday, April 22nd. The financial services provider reported $0.96 EPS for the quarter, topping the consensus estimate of $0.84 by $0.12. Univest Corporation of Pennsylvania had a return on equity of 10.19% and a net margin of 18.25%.The business had revenue of $87.45 million for the quarter, compared to analyst estimates of $84.85 million. On average, 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 firm also recently announced a quarterly dividend, which was paid on Wednesday, May 20th. Shareholders 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 an increase 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 2.1%. Univest Corporation of Pennsylvania’s dividend payout ratio (DPR) is presently 27.63%.

Insider Buying and Selling at Univest Corporation of Pennsylvania

In other news, CEO Jeffrey M. Schweitzer sold 13,933 shares of the stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $40.91, for a total value of $569,999.03. Following the sale, the chief executive officer directly owned 110,513 shares in the company, valued at $4,521,086.83. This represents a 11.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Brian J. Richardson sold 2,090 shares of Univest Corporation of Pennsylvania stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $40.90, for a total value of $85,481.00. Following the transaction, the chief financial officer owned 24,228 shares of the company’s stock, valued at $990,925.20. This represents a 7.94% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 36,268 shares of company stock worth $1,427,334 over the last ninety days. 1.83% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bank of America Corp DE grew its holdings in shares of Univest Corporation of Pennsylvania by 18.1% during the first quarter. Bank of America Corp DE now owns 225,853 shares of the financial services provider’s stock worth $7,738,000 after buying an additional 34,557 shares in the last quarter. Amundi acquired a new stake in Univest Corporation of Pennsylvania during the first quarter worth approximately $440,000. Empowered Funds LLC boosted its position in Univest Corporation of Pennsylvania by 6.1% during the first quarter. Empowered Funds LLC now owns 130,764 shares of the financial services provider’s stock worth $4,480,000 after acquiring an additional 7,534 shares during the last quarter. Quantinno Capital Management LP boosted its position in Univest Corporation of Pennsylvania by 60.1% during the first quarter. Quantinno Capital Management LP now owns 31,070 shares of the financial services provider’s stock worth $1,064,000 after acquiring an additional 11,664 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its stake in Univest Corporation of Pennsylvania by 4.1% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 346,893 shares of the financial services provider’s stock worth $11,885,000 after acquiring an additional 13,772 shares during the period. 75.07% of the stock is currently 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.