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

Univest Corporation of Pennsylvania (NASDAQ:UVSP)’s stock price reached a new 52-week high on Wednesday . The company traded as high as $39.12 and last traded at $39.0780, with a volume of 54515 shares changing hands. The stock had previously closed at $38.42.

Analyst Ratings Changes

A number of analysts have recently weighed in on UVSP shares. Weiss Ratings reiterated a “buy (b)” rating on shares of Univest Corporation of Pennsylvania in a research report on Friday, March 27th. Keefe, Bruyette & Woods upped their target price on Univest Corporation of Pennsylvania from $37.00 to $40.00 and gave the company a “market perform” rating in a research report on Friday, April 24th. One equities research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, Univest Corporation of Pennsylvania currently has an average rating of “Hold” and a consensus target price of $37.00.

Univest Corporation of Pennsylvania Price Performance

The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.02 and a current ratio of 1.02. The company has a market cap of $1.08 billion, a price-to-earnings ratio of 11.65 and a beta of 0.67. The business has a fifty day moving average price of $35.97 and a 200 day moving average price of $34.11.

Univest Corporation of Pennsylvania (NASDAQ:UVSP) last posted its quarterly earnings results on Wednesday, April 22nd. The financial services provider reported $0.96 EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $87.45 million during the quarter, compared to analysts’ expectations of $84.85 million. As a group, 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 announced a quarterly dividend, which will be paid on Wednesday, May 20th. Shareholders of record on Wednesday, May 6th will be issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend is Wednesday, May 6th. This is a boost from Univest Corporation of Pennsylvania’s previous quarterly dividend of $0.22. Univest Corporation of Pennsylvania’s payout ratio is currently 27.63%.

Insider Transactions at Univest Corporation of Pennsylvania

In other Univest Corporation of Pennsylvania news, Director Natalye Paquin sold 13,000 shares of the company’s stock in a transaction dated Monday, April 27th. The stock was sold at an average price of $37.80, for a total value of $491,400.00. Following the completion of the transaction, the director owned 17,004 shares of the company’s stock, valued at $642,751.20. This represents a 43.33% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Michael S. Keim sold 7,245 shares of the company’s stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $38.71, for a total value of $280,453.95. Following the completion of the transaction, the chief operating officer directly owned 66,979 shares of the company’s stock, valued at approximately $2,592,757.09. The trade was a 9.76% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.83% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Univest Corporation of Pennsylvania

Institutional investors and hedge funds have recently bought and sold shares of the company. State of Alaska Department of Revenue acquired a new position in Univest Corporation of Pennsylvania in the 3rd quarter worth about $34,000. Russell Investments Group Ltd. bought a new stake in shares of Univest Corporation of Pennsylvania in the 2nd quarter valued at about $42,000. Geneos Wealth Management Inc. grew its position in shares of Univest Corporation of Pennsylvania by 545.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 2,665 shares of the financial services provider’s stock valued at $76,000 after buying an additional 2,252 shares during the last quarter. Osaic Holdings Inc. bought a new stake in shares of Univest Corporation of Pennsylvania in the 2nd quarter valued at about $91,000. Finally, Tower Research Capital LLC TRC grew its position in shares of Univest Corporation of Pennsylvania by 69.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,225 shares of the financial services provider’s stock valued at $97,000 after buying an additional 1,324 shares during the last quarter. Institutional investors and hedge funds 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.