Univest Corporation of Pennsylvania (NASDAQ:UVSP) Reaches New 1-Year High – What’s Next?

Shares of Univest Corporation of Pennsylvania (NASDAQ:UVSP) hit a new 52-week high on Wednesday . The stock traded as high as $43.65 and last traded at $43.2590, with a volume of 12480 shares changing hands. The stock had previously closed at $42.89.

Wall Street Analyst Weigh In

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

Univest Corporation of Pennsylvania Stock Performance

The company has a market cap of $1.20 billion, a PE ratio of 13.06 and a beta of 0.67. The firm’s fifty day moving average is $39.21 and its 200 day moving average is $35.85. 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 (NASDAQ:UVSP) last posted its quarterly earnings data on Wednesday, April 22nd. The financial services provider reported $0.96 earnings per share for the quarter, topping analysts’ consensus estimates of $0.84 by $0.12. The company had revenue of $87.45 million during the quarter, compared to analysts’ expectations of $84.85 million. Univest Corporation of Pennsylvania had a net margin of 18.25% and a return on equity of 10.19%. As a group, research analysts predict that Univest Corporation of Pennsylvania will post 3.6 EPS for the current fiscal year.

Univest Corporation of Pennsylvania Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 20th. Investors of record on Wednesday, May 6th were given a dividend of $0.23 per share. This is a boost from Univest Corporation of Pennsylvania’s previous quarterly dividend of $0.22. The ex-dividend date was Wednesday, May 6th. This represents a $0.92 annualized dividend and a dividend yield of 2.1%. Univest Corporation of Pennsylvania’s payout ratio is currently 27.63%.

Insider Activity at Univest Corporation of Pennsylvania

In related news, CEO Jeffrey M. Schweitzer sold 13,933 shares of Univest Corporation of Pennsylvania stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $40.91, for a total value of $569,999.03. Following the sale, the chief executive officer directly owned 110,513 shares in the company, valued at approximately $4,521,086.83. The trade was a 11.20% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Brian J. Richardson sold 2,090 shares of the business’s stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $40.90, for a total value of $85,481.00. Following the sale, the chief financial officer owned 24,228 shares of the company’s stock, valued at approximately $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. Over the last 90 days, insiders sold 36,268 shares of company stock valued at $1,427,334. 1.83% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bank of America Corp DE boosted its stake in Univest Corporation of Pennsylvania by 18.1% during 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 purchasing an additional 34,557 shares during the last quarter. Amundi acquired a new stake in shares of Univest Corporation of Pennsylvania in the first quarter valued at about $440,000. Empowered Funds LLC raised its position in shares of Univest Corporation of Pennsylvania by 6.1% in the first quarter. Empowered Funds LLC now owns 130,764 shares of the financial services provider’s stock valued at $4,480,000 after buying an additional 7,534 shares during the last quarter. Quantinno Capital Management LP lifted its stake in shares of Univest Corporation of Pennsylvania by 60.1% in the first 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 lifted its stake in shares of Univest Corporation of Pennsylvania by 4.1% in the first 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. Hedge funds and other institutional investors own 75.07% of the company’s stock.

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.