Univest Corporation of Pennsylvania (NASDAQ:UVSP) Hits New 1-Year High – Still a Buy?

Univest Corporation of Pennsylvania (NASDAQ:UVSP) hit a new 52-week high on Friday . The company traded as high as $40.67 and last traded at $40.5540, with a volume of 34460 shares trading hands. The stock had previously closed at $40.31.

Analyst Ratings Changes

A number of equities research analysts have weighed in on UVSP shares. Weiss Ratings reiterated a “buy (b)” rating on shares of Univest Corporation of Pennsylvania in a research note on Friday, March 27th. Keefe, Bruyette & Woods boosted their price objective 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. One equities 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 an average rating of “Hold” and a consensus price target of $37.00.

Univest Corporation of Pennsylvania Stock Performance

The company has a debt-to-equity ratio of 0.10, a current ratio of 1.02 and a quick ratio of 1.02. The stock has a 50 day simple moving average of $37.49 and a two-hundred day simple moving average of $34.91. The company has a market cap of $1.14 billion, a PE ratio of 12.27 and a beta of 0.67.

Univest Corporation of Pennsylvania (NASDAQ:UVSP) last issued its quarterly earnings data on Wednesday, April 22nd. The financial services provider reported $0.96 earnings per share for the quarter, beating 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. Equities analysts predict that Univest Corporation of Pennsylvania will post 3.6 EPS for the current year.

Univest Corporation of Pennsylvania Increases Dividend

The business 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 represents a $0.92 annualized dividend and a dividend yield of 2.3%. This is a boost from Univest Corporation of Pennsylvania’s previous quarterly dividend of $0.22. The ex-dividend date was Wednesday, May 6th. Univest Corporation of Pennsylvania’s dividend payout ratio (DPR) is currently 27.63%.

Insider Activity at Univest Corporation of Pennsylvania

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

Institutional Investors Weigh In On Univest Corporation of Pennsylvania

Several large investors have recently modified their holdings of the stock. Bank of America Corp DE raised its stake 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 purchasing an additional 34,557 shares during the last quarter. Amundi purchased a new stake in shares of Univest Corporation of Pennsylvania during the first quarter worth approximately $440,000. Empowered Funds LLC raised its stake in shares of 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 purchasing an additional 7,534 shares during the last quarter. Quantinno Capital Management LP raised its stake in shares of 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 purchasing an additional 11,664 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its stake in shares of Univest Corporation of Pennsylvania by 4.1% during the first quarter. Arrowstreet Capital Limited Partnership now owns 346,893 shares of the financial services provider’s stock worth $11,885,000 after purchasing an additional 13,772 shares during the last quarter. Hedge funds and other institutional investors own 75.07% of the company’s stock.

About Univest Corporation of Pennsylvania

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.