Univest Corporation of Pennsylvania (NASDAQ:UVSP) Sets New 1-Year High – Should You Buy?

Univest Corporation of Pennsylvania (NASDAQ:UVSP) shares reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $42.00 and last traded at $41.79, with a volume of 181092 shares. The stock had previously closed at $41.21.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Weiss Ratings reiterated a “buy (b)” rating on shares of Univest Corporation of Pennsylvania in a report on Friday, March 27th. Keefe, Bruyette & Woods increased their price objective on Univest Corporation of Pennsylvania from $37.00 to $40.00 and gave the stock a “market perform” rating in a report on Friday, April 24th. One analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $37.00.

Univest Corporation of Pennsylvania Price Performance

The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.10. The firm has a fifty day moving average price of $38.08 and a two-hundred day moving average price of $35.22. The stock has a market capitalization of $1.16 billion, a P/E ratio of 12.55 and a beta of 0.67.

Univest Corporation of Pennsylvania (NASDAQ:UVSP) last issued its quarterly earnings results on Wednesday, April 22nd. The financial services provider reported $0.96 earnings per share 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 firm had revenue of $87.45 million during the quarter, compared to the consensus estimate of $84.85 million. On average, analysts expect 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 issued a dividend of $0.23 per share. The ex-dividend date was Wednesday, May 6th. This is a boost from Univest Corporation of Pennsylvania’s previous quarterly dividend of $0.22. This represents a $0.92 annualized dividend and a dividend yield of 2.2%. Univest Corporation of Pennsylvania’s dividend payout ratio is 27.63%.

Insider Buying and Selling

In other news, CEO Jeffrey M. Schweitzer sold 13,933 shares of the firm’s stock in a transaction on Monday, June 8th. The stock was sold at an average price of $40.91, for a total transaction of $569,999.03. Following the completion of the transaction, the chief executive officer directly owned 110,513 shares in the company, valued at $4,521,086.83. This trade represents a 11.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Brian J. Richardson sold 2,090 shares of the firm’s stock in a transaction on Monday, June 8th. The shares were sold at an average price of $40.90, for a total value of $85,481.00. Following the transaction, the chief financial officer owned 24,228 shares of the company’s stock, valued at $990,925.20. The trade was a 7.94% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 36,268 shares of company stock valued at $1,427,334 over the last ninety days. Insiders own 1.83% of the company’s stock.

Institutional Trading of Univest Corporation of Pennsylvania

Institutional investors have recently added to or reduced their stakes in the business. Bank of America Corp DE increased its holdings in Univest Corporation of Pennsylvania by 18.1% in the 1st quarter. Bank of America Corp DE now owns 225,853 shares of the financial services provider’s stock worth $7,738,000 after buying an additional 34,557 shares in the last quarter. Amundi bought a new stake in Univest Corporation of Pennsylvania in the 1st quarter worth about $440,000. Empowered Funds LLC increased its holdings in Univest Corporation of Pennsylvania by 6.1% in the 1st quarter. Empowered Funds LLC now owns 130,764 shares of the financial services provider’s stock worth $4,480,000 after buying an additional 7,534 shares in the last quarter. Quantinno Capital Management LP increased its holdings in Univest Corporation of Pennsylvania by 60.1% in the 1st quarter. Quantinno Capital Management LP now owns 31,070 shares of the financial services provider’s stock worth $1,064,000 after buying an additional 11,664 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its holdings in Univest Corporation of Pennsylvania by 4.1% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 346,893 shares of the financial services provider’s stock worth $11,885,000 after buying an additional 13,772 shares in the last quarter. 75.07% of the stock is currently owned by hedge funds and other institutional investors.

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.