Univest Corporation of Pennsylvania (NASDAQ:UVSP) Issues Quarterly Earnings Results

Univest Corporation of Pennsylvania (NASDAQ:UVSP) announced its quarterly earnings results on Wednesday. The financial services provider reported $0.82 EPS for the quarter, missing the consensus estimate of $0.87 by ($0.05), Zacks reports. Univest Corporation of Pennsylvania had a return on equity of 10.19% and a net margin of 18.25%.

Univest Corporation of Pennsylvania Price Performance

NASDAQ:UVSP traded down $0.63 during mid-day trading on Wednesday, hitting $43.79. The company’s stock had a trading volume of 288,587 shares, compared to its average volume of 194,461. The company has a market capitalization of $1.22 billion, a price-to-earnings ratio of 13.15 and a beta of 0.66. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.10. Univest Corporation of Pennsylvania has a fifty-two week low of $27.91 and a fifty-two week high of $45.46. The stock has a fifty day moving average of $41.74 and a 200-day moving average of $37.27.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on UVSP shares. Weiss Ratings raised Univest Corporation of Pennsylvania from a “buy (b)” rating to a “buy (b+)” rating in a research report on Wednesday, July 8th. Keefe, Bruyette & Woods raised their price objective on shares of 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 equities research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, Univest Corporation of Pennsylvania presently has an average rating of “Hold” and an average target price of $37.00.

Insider Buying and Selling

In related news, Director Natalye Paquin sold 13,000 shares of the firm’s stock in a transaction on Monday, April 27th. The stock was sold at an average price of $37.80, for a total transaction of $491,400.00. Following the completion of the sale, the director directly 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Jeffrey M. Schweitzer sold 13,933 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at approximately $4,521,086.83. This represents a 11.20% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 36,268 shares of company stock valued at $1,427,334. 1.83% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. The Manufacturers Life Insurance Company boosted its holdings in Univest Corporation of Pennsylvania by 15.1% during 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. raised its position in shares of Univest Corporation of Pennsylvania by 38.0% in the 4th quarter. Goldman Sachs Group Inc. now owns 379,679 shares of the financial services provider’s stock valued at $12,431,000 after acquiring an additional 104,516 shares during the period. Jane Street Group LLC acquired a new stake in shares of Univest Corporation of Pennsylvania in the 1st quarter valued at approximately $1,467,000. Millennium Management LLC boosted its stake in Univest Corporation of Pennsylvania by 27.8% during the 3rd quarter. Millennium Management LLC now owns 170,857 shares of the financial services provider’s stock worth $5,129,000 after acquiring an additional 37,194 shares during the last quarter. Finally, Bank of America Corp DE boosted its stake in Univest Corporation of Pennsylvania by 25.9% during the 2nd quarter. Bank of America Corp DE now owns 166,122 shares of the financial services provider’s stock worth $4,990,000 after acquiring an additional 34,220 shares during the last quarter. Institutional investors and hedge funds 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.