Univest Corporation of Pennsylvania (NASDAQ:UVSP) Stock Crosses Above Two Hundred Day Moving Average – Here’s Why

Univest Corporation of Pennsylvania (NASDAQ:UVSP) shares passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $36.67 and traded as high as $44.02. Univest Corporation of Pennsylvania shares last traded at $43.84, with a volume of 246,223 shares trading hands.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Keefe, Bruyette & Woods boosted their target price on Univest Corporation of Pennsylvania from $37.00 to $40.00 and gave the stock a “market perform” rating in a research report on Friday, April 24th. Weiss Ratings reiterated a “buy (b)” rating on shares of Univest Corporation of Pennsylvania in a report on Wednesday, June 24th. 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, Univest Corporation of Pennsylvania has a consensus rating of “Hold” and a consensus price target of $37.00.

Univest Corporation of Pennsylvania Stock Up 1.5%

The firm’s 50-day simple moving average is $40.82 and its 200 day simple moving average is $36.67. The company has a market cap of $1.22 billion, a P/E ratio of 13.17 and a beta of 0.66. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.02 and a current ratio of 1.02.

Univest Corporation of Pennsylvania (NASDAQ:UVSP) last posted its quarterly earnings results on Wednesday, April 22nd. The financial services provider reported $0.96 earnings per share (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 forecast that Univest Corporation of Pennsylvania will post 3.6 earnings per share for the current fiscal year.

Univest Corporation of Pennsylvania Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 20th. Shareholders of record on Wednesday, May 6th were paid a $0.23 dividend. The ex-dividend date of this dividend was Wednesday, May 6th. This is a positive change from Univest Corporation of Pennsylvania’s previous quarterly dividend of $0.22. This represents a $0.92 annualized dividend and a yield of 2.1%. Univest Corporation of Pennsylvania’s payout ratio is currently 27.63%.

Insider Buying and Selling

In other news, CEO Jeffrey M. Schweitzer sold 13,933 shares of the company’s stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $40.91, for a total value of $569,999.03. Following the completion of the sale, the chief executive officer directly owned 110,513 shares of the company’s stock, valued at $4,521,086.83. This represents a 11.20% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Natalye Paquin sold 13,000 shares of the stock in a transaction that occurred on Monday, April 27th. The shares were sold at an average price of $37.80, for a total transaction of $491,400.00. Following the completion of the sale, the director owned 17,004 shares in the company, valued at $642,751.20. This represents a 43.33% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 36,268 shares of company stock worth $1,427,334 in the last ninety days. 1.83% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Univest Corporation of Pennsylvania

Several large investors have recently bought and sold shares of UVSP. Assenagon Asset Management S.A. raised its stake in Univest Corporation of Pennsylvania by 39.2% during the 2nd quarter. Assenagon Asset Management S.A. now owns 358,183 shares of the financial services provider’s stock worth $15,671,000 after buying an additional 100,780 shares during the period. Bank of America Corp DE increased its holdings in shares of Univest Corporation of Pennsylvania by 18.1% in 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 acquiring an additional 34,557 shares in the last quarter. Amundi acquired a new stake in shares of Univest Corporation of Pennsylvania during the first quarter worth about $440,000. Empowered Funds LLC lifted its holdings in shares of Univest Corporation of Pennsylvania by 6.1% during the 1st quarter. Empowered Funds LLC now owns 130,764 shares of the financial services provider’s stock valued at $4,480,000 after purchasing an additional 7,534 shares in the last quarter. Finally, Quantinno Capital Management LP lifted its holdings in shares of Univest Corporation of Pennsylvania by 60.1% during the 1st quarter. Quantinno Capital Management LP now owns 31,070 shares of the financial services provider’s stock valued at $1,064,000 after purchasing an additional 11,664 shares in the last quarter. 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.