Univest Corporation of Pennsylvania (NASDAQ:UVSP) Upgraded to Strong-Buy at Zacks Research

Zacks Research upgraded shares of Univest Corporation of Pennsylvania (NASDAQ:UVSP) from a hold rating to a strong-buy rating in a research report sent to investors on Tuesday morning,Zacks.com reports.

Other equities research analysts have also issued research reports about the company. Keefe, Bruyette & Woods lifted their target price on 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. Weiss Ratings raised shares of Univest Corporation of Pennsylvania from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Tuesday. Two analysts have rated the stock with a Strong Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $40.50.

Univest Corporation of Pennsylvania Stock Performance

UVSP opened at $44.61 on Tuesday. The business’s 50-day moving average price is $42.47 and its two-hundred day moving average price is $37.76. 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 capitalization of $1.24 billion, a price-to-earnings ratio of 12.89 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 posted its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $0.82 earnings per share for the quarter, missing the consensus estimate of $0.87 by ($0.05). The firm had revenue of $89.59 million for the quarter, compared to analyst estimates of $86.66 million. Univest Corporation of Pennsylvania had a return on equity of 10.44% and a net margin of 18.86%. Equities analysts expect that Univest Corporation of Pennsylvania will post 3.67 EPS for the current fiscal year.

Univest Corporation of Pennsylvania Announces Dividend

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

Insider Activity

In related news, 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 transaction of $280,453.95. Following the sale, the chief operating officer owned 66,979 shares in the company, valued at approximately $2,592,757.09. This represents a 9.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Brian J. Richardson sold 2,090 shares of the stock in a transaction that occurred 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 directly 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 worth $935,934 in the last quarter. Corporate insiders own 1.83% of the company’s stock.

Institutional Investors Weigh In On Univest Corporation of Pennsylvania

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Russell Investments Group Ltd. acquired a new stake in shares of Univest Corporation of Pennsylvania in the 2nd quarter valued at approximately $42,000. Geneos Wealth Management Inc. grew its stake in shares of Univest Corporation of Pennsylvania by 545.3% in the first 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 in the last quarter. Osaic Holdings Inc. acquired a new position in Univest Corporation of Pennsylvania during the second quarter worth $91,000. Tower Research Capital LLC TRC increased its holdings in Univest Corporation of Pennsylvania by 69.6% during the second quarter. Tower Research Capital LLC TRC now owns 3,225 shares of the financial services provider’s stock worth $97,000 after buying an additional 1,324 shares during the last quarter. Finally, Mariner LLC bought a new stake in Univest Corporation of Pennsylvania during the fourth quarter worth $211,000. 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.