UNIVEST FINANCIAL Corp Trims Position in Univest Corporation of Pennsylvania $UVSP

UNIVEST FINANCIAL Corp decreased its position in Univest Corporation of Pennsylvania (NASDAQ:UVSP) by 18.7% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 501,751 shares of the financial services provider’s stock after selling 115,775 shares during the quarter. Univest Corporation of Pennsylvania makes up 1.0% of UNIVEST FINANCIAL Corp’s portfolio, making the stock its 20th biggest holding. UNIVEST FINANCIAL Corp’s holdings in Univest Corporation of Pennsylvania were worth $17,190,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of Univest Corporation of Pennsylvania by 1.0% during the 3rd quarter. Vanguard Group Inc. now owns 1,741,938 shares of the financial services provider’s stock valued at $52,293,000 after purchasing an additional 16,682 shares during the last quarter. The Manufacturers Life Insurance Company boosted 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 buying an additional 193,561 shares during the last quarter. Goldman Sachs Group Inc. grew its position in Univest Corporation of Pennsylvania by 38.0% during the fourth quarter. Goldman Sachs Group Inc. now owns 379,679 shares of the financial services provider’s stock valued at $12,431,000 after buying an additional 104,516 shares during the period. AQR Capital Management LLC grew its position in Univest Corporation of Pennsylvania by 7.6% during the fourth quarter. AQR Capital Management LLC now owns 324,736 shares of the financial services provider’s stock valued at $10,632,000 after buying an additional 22,991 shares during the period. Finally, Assenagon Asset Management S.A. purchased a new stake in Univest Corporation of Pennsylvania during the first quarter valued at approximately $8,819,000. 75.07% of the stock is owned by hedge funds and other institutional investors.

Univest Corporation of Pennsylvania Price Performance

UVSP stock traded down $0.39 during mid-day trading on Friday, hitting $43.45. The company had a trading volume of 213,708 shares, compared to its average volume of 247,101. The company has a market capitalization of $1.21 billion, a price-to-earnings ratio of 13.05 and a beta of 0.66. Univest Corporation of Pennsylvania has a 12-month low of $27.91 and a 12-month high of $45.46. The company has a 50-day moving average price of $40.94 and a 200 day moving average price of $36.71. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.10.

Univest Corporation of Pennsylvania (NASDAQ:UVSP) last posted its quarterly earnings data on Wednesday, April 22nd. The financial services provider reported $0.96 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analyst estimates of $84.85 million. On average, research analysts anticipate that Univest Corporation of Pennsylvania will post 3.6 earnings per share for the current year.

Univest Corporation of Pennsylvania Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 20th. Stockholders of record on Wednesday, May 6th were paid a dividend of $0.23 per share. This is an increase from Univest Corporation of Pennsylvania’s previous quarterly dividend of $0.22. This represents a $0.92 annualized dividend and a dividend yield of 2.1%. The ex-dividend date was Wednesday, May 6th. Univest Corporation of Pennsylvania’s payout ratio is 27.63%.

Insider Transactions at Univest Corporation of Pennsylvania

In other news, COO Michael S. Keim sold 7,245 shares of Univest Corporation of Pennsylvania stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $38.71, for a total value of $280,453.95. Following the transaction, the chief operating officer directly owned 66,979 shares in the company, valued at approximately $2,592,757.09. This trade represents a 9.76% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 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 completion of 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 SEC filing for this sale provides additional information. Over the last three months, insiders have sold 36,268 shares of company stock valued at $1,427,334. Insiders own 1.83% of the company’s stock.

Wall Street Analyst Weigh In

UVSP has been the topic of several analyst reports. Weiss Ratings upgraded shares of Univest Corporation of Pennsylvania from a “buy (b)” rating to a “buy (b+)” rating in a research note on Wednesday. Keefe, Bruyette & Woods upped their price objective on Univest Corporation of Pennsylvania from $37.00 to $40.00 and gave the stock a “market perform” rating in a research note on Friday, April 24th. One analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $37.00.

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.