Univest Corporation of Pennsylvania (NASDAQ:UVSP) Stock Price Breaks Above 200-Day Moving Average on Analyst Downgrade

Shares of Univest Corporation of Pennsylvania (NASDAQ:UVSP) crossed above its 200-day moving average during trading on Monday after Zacks Research upgraded the stock from a hold rating to a strong-buy rating. The stock has a 200-day moving average of $40.59 and traded as high as $41.79. Univest Corporation of Pennsylvania shares last traded at $41.65, with a volume of 173,836 shares trading hands.

A number of other equities analysts have also commented on the company. Keefe, Bruyette & Woods raised their price target on Univest Corporation of Pennsylvania from $45.00 to $47.00 and gave the stock a “market perform” rating in a report on Friday, July 24th. Weiss Ratings upgraded Univest Corporation of Pennsylvania from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Tuesday, July 28th. One investment analyst has rated the stock with a Strong Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $40.50.

Insider Activity

In related news, Director Michael Turner sold 8,000 shares of the stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $43.03, for a total value of $344,240.00. Following the sale, the director owned 24,684 shares in the company, valued at approximately $1,062,152.52. This trade represents a 24.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 1.83% of the company’s stock.

Institutional Trading of Univest Corporation of Pennsylvania

Large investors have recently modified their holdings of the business. Allworth Financial LP grew its stake in Univest Corporation of Pennsylvania by 71.3% in the 2nd quarter. Allworth Financial LP now owns 783 shares of the financial services provider’s stock worth $34,000 after buying an additional 326 shares in the last quarter. Susquehanna Fundamental Investments LLC bought a new stake in shares of Univest Corporation of Pennsylvania during the 2nd quarter worth $358,000. Hsbc Holdings PLC grew its position in Univest Corporation of Pennsylvania by 124.9% in the second quarter. Hsbc Holdings PLC now owns 52,472 shares of the financial services provider’s stock worth $2,317,000 after acquiring an additional 29,138 shares in the last quarter. Assenagon Asset Management S.A. grew its position in Univest Corporation of Pennsylvania by 39.2% in the second quarter. Assenagon Asset Management S.A. now owns 358,183 shares of the financial services provider’s stock worth $15,671,000 after acquiring an additional 100,780 shares in the last quarter. Finally, Bank of America Corp DE increased its stake in Univest Corporation of Pennsylvania by 18.1% in the first quarter. Bank of America Corp DE now owns 225,853 shares of the financial services provider’s stock valued at $7,738,000 after acquiring an additional 34,557 shares during the last quarter. Institutional investors own 75.07% of the company’s stock.

Univest Corporation of Pennsylvania Trading Down 1.2%

The stock has a 50 day moving average of $42.40 and a 200 day moving average of $40.65. 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 firm has a market cap of $1.13 billion, a P/E ratio of 11.82 and a beta of 0.67.

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 (EPS) for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.05). The firm had revenue of $89.59 million during the quarter, compared to analysts’ expectations of $86.66 million. Univest Corporation of Pennsylvania had a return on equity of 10.41% and a net margin of 18.86%. As a group, equities research analysts predict that Univest Corporation of Pennsylvania will post 3.72 EPS for the current year.

Univest Corporation of Pennsylvania Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 19th. Shareholders of record on Wednesday, August 5th were paid a $0.23 dividend. The ex-dividend date of this dividend was Wednesday, August 5th. This represents a $0.92 annualized dividend and a yield of 2.2%. Univest Corporation of Pennsylvania’s dividend payout ratio is currently 26.59%.

Univest Corporation of Pennsylvania Company Profile

Univest Corporation of Pennsylvania is a financial services holding company headquartered in Souderton, Pennsylvania. Through its principal banking subsidiary, Univest Bank and Trust Co, the company provides banking and related financial services to individuals, families, businesses, municipalities and nonprofit organizations.

Its offerings include checking and savings accounts, consumer and residential lending, commercial loans, treasury management, cash-management services and other deposit products.