Univest Corporation of Pennsylvania (NASDAQ:UVSP) to Issue Quarterly Dividend of $0.22

Univest Corporation of Pennsylvania (NASDAQ:UVSP) announced a quarterly dividend on Wednesday, January 28th. Investors of record on Wednesday, February 11th will be paid a dividend of 0.22 per share by the financial services provider on Wednesday, February 25th. This represents a c) annualized dividend and a dividend yield of 2.7%. The ex-dividend date of this dividend is Wednesday, February 11th.

Univest Corporation of Pennsylvania has increased its dividend payment by an average of 0.0%per year over the last three years and has raised its dividend annually for the last 1 consecutive years. Univest Corporation of Pennsylvania has a dividend payout ratio of 30.2% indicating that its dividend is sufficiently covered by earnings. Analysts expect Univest Corporation of Pennsylvania to earn $2.80 per share next year, which means the company should continue to be able to cover its $0.88 annual dividend with an expected future payout ratio of 31.4%.

Univest Corporation of Pennsylvania Stock Down 1.2%

NASDAQ:UVSP traded down $0.40 during trading hours on Thursday, hitting $33.03. The stock had a trading volume of 64,690 shares, compared to its average volume of 145,097. The company has a market cap of $940.55 million, a PE ratio of 11.00 and a beta of 0.67. The business has a 50 day simple moving average of $33.24 and a two-hundred day simple moving average of $31.30. Univest Corporation of Pennsylvania has a 1-year low of $22.83 and a 1-year high of $35.65. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.14.

Univest Corporation of Pennsylvania (NASDAQ:UVSP) last posted its earnings results on Wednesday, January 28th. The financial services provider reported $0.79 EPS for the quarter, topping analysts’ consensus estimates of $0.78 by $0.01. The business had revenue of $84.57 million for the quarter, compared to analysts’ expectations of $82.54 million. Univest Corporation of Pennsylvania had a net margin of 16.94% and a return on equity of 9.55%. Analysts predict that Univest Corporation of Pennsylvania will post 2.36 EPS for the current year.

Analysts Set New Price Targets

Several research firms recently issued reports on UVSP. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Univest Corporation of Pennsylvania in a report on Monday, December 29th. Piper Sandler initiated coverage on shares of Univest Corporation of Pennsylvania in a research note on Wednesday, December 3rd. They issued a “neutral” rating and a $34.00 target price on the stock. Keefe, Bruyette & Woods increased their price target on shares of Univest Corporation of Pennsylvania from $33.00 to $34.00 and gave the stock a “market perform” rating in a research report on Friday, October 24th. Finally, Zacks Research upgraded Univest Corporation of Pennsylvania to a “hold” rating in a research note on Thursday, December 4th. One analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, Univest Corporation of Pennsylvania currently has a consensus rating of “Hold” and an average price target of $34.00.

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.