Renaissance Technologies LLC Sells 51,496 Shares of Univest Corporation of Pennsylvania $UVSP

Renaissance Technologies LLC lowered its stake in Univest Corporation of Pennsylvania (NASDAQ:UVSP) by 8.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 583,734 shares of the financial services provider’s stock after selling 51,496 shares during the period. Renaissance Technologies LLC owned approximately 2.10% of Univest Corporation of Pennsylvania worth $19,999,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of UVSP. UNIVEST FINANCIAL Corp lifted its holdings in Univest Corporation of Pennsylvania by 22.2% during the fourth quarter. UNIVEST FINANCIAL Corp now owns 617,526 shares of the financial services provider’s stock worth $20,218,000 after buying an additional 112,203 shares during the period. SG Americas Securities LLC raised its position in shares of 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 worth $3,397,000 after acquiring an additional 77,594 shares in the last quarter. Hussman Strategic Advisors Inc. purchased a new stake in shares of Univest Corporation of Pennsylvania during the 4th quarter worth $688,000. Assenagon Asset Management S.A. purchased a new stake in shares of Univest Corporation of Pennsylvania during the 1st quarter worth $8,819,000. Finally, Principal Financial Group Inc. bought a new stake in Univest Corporation of Pennsylvania during the first quarter valued at about $1,246,000. Institutional investors own 75.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on UVSP. Weiss Ratings upgraded Univest Corporation of Pennsylvania from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Tuesday. Keefe, Bruyette & Woods increased their price target on shares of Univest Corporation of Pennsylvania from $45.00 to $47.00 and gave the company a “market perform” rating in a research report on Friday, July 24th. Finally, Zacks Research upgraded shares of Univest Corporation of Pennsylvania from a “hold” rating to a “strong-buy” rating in a report on Tuesday. Two analysts have rated the stock with a Strong Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $40.50.

Univest Corporation of Pennsylvania Stock Down 0.5%

Shares of UVSP stock opened at $44.40 on Friday. The stock’s fifty day moving average price is $42.57 and its 200 day moving average price is $37.84. Univest Corporation of Pennsylvania has a 1-year low of $27.91 and a 1-year high of $45.46. The company has a market cap of $1.22 billion, a price-to-earnings ratio of 12.83 and a beta of 0.66. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.02 and a quick ratio of 1.02.

Univest Corporation of Pennsylvania (NASDAQ:UVSP) last released its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $0.82 EPS for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.05). The business had revenue of $89.59 million during the quarter, compared to analysts’ expectations of $86.66 million. Univest Corporation of Pennsylvania had a net margin of 18.86% and a return on equity of 10.41%. On average, research analysts expect that Univest Corporation of Pennsylvania will post 3.67 earnings per share for the current fiscal year.

Univest Corporation of Pennsylvania Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 19th. Stockholders of record on Wednesday, August 5th will be issued a dividend of $0.23 per share. The ex-dividend date is Wednesday, August 5th. This represents a $0.92 annualized dividend and a dividend yield of 2.1%. Univest Corporation of Pennsylvania’s dividend payout ratio is 26.59%.

Insider Activity at Univest Corporation of Pennsylvania

In related news, COO Michael S. Keim sold 7,245 shares of Univest Corporation of Pennsylvania stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $38.71, for a total value of $280,453.95. Following the completion of the sale, the chief operating officer directly owned 66,979 shares in the company, valued at $2,592,757.09. This trade represents a 9.76% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 transaction of $85,481.00. Following the completion of the sale, the chief financial officer owned 24,228 shares of the company’s stock, valued at $990,925.20. This trade represents a 7.94% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 23,268 shares of company stock valued at $935,934 in the last three months. 1.83% of the stock is owned by insiders.

Univest Corporation of Pennsylvania 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.