Univest Corporation of Pennsylvania (NASDAQ:UVSP) Sets New 52-Week High – Time to Buy?

Univest Corporation of Pennsylvania (NASDAQ:UVSP) shares hit a new 52-week high during trading on Wednesday . The company traded as high as $44.84 and last traded at $44.9050, with a volume of 65144 shares traded. The stock had previously closed at $43.75.

Analyst Upgrades and Downgrades

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

Univest Corporation of Pennsylvania Stock Up 2.6%

The firm has a market capitalization of $1.25 billion, a PE ratio of 13.48 and a beta of 0.67. 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 company has a 50-day moving average price of $39.89 and a 200 day moving average price of $36.21.

Univest Corporation of Pennsylvania (NASDAQ:UVSP) last released its earnings results on Wednesday, April 22nd. The financial services provider reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.12. The firm had revenue of $87.45 million during the quarter, compared to analysts’ expectations of $84.85 million. Univest Corporation of Pennsylvania had a return on equity of 10.19% and a net margin of 18.25%. Analysts forecast that Univest Corporation of Pennsylvania will post 3.6 earnings per share for the current year.

Univest Corporation of Pennsylvania Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 20th. Shareholders of record on Wednesday, May 6th were issued a dividend of $0.23 per share. This is an increase from Univest Corporation of Pennsylvania’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Wednesday, May 6th. This represents a $0.92 dividend on an annualized basis and a yield of 2.0%. Univest Corporation of Pennsylvania’s payout ratio is 27.63%.

Insider Activity at Univest Corporation of Pennsylvania

In other news, CFO Brian J. Richardson sold 2,090 shares of Univest Corporation of Pennsylvania stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $40.90, for a total transaction of $85,481.00. Following the sale, the chief financial officer owned 24,228 shares in the company, valued at $990,925.20. This trade represents a 7.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Jeffrey M. Schweitzer sold 13,933 shares of the business’s stock in a transaction on 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 in the company, valued at $4,521,086.83. This trade represents a 11.20% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 36,268 shares of company stock valued at $1,427,334. Corporate insiders own 1.83% of the company’s stock.

Institutional Trading of Univest Corporation of Pennsylvania

Several hedge funds have recently bought and sold shares of UVSP. Russell Investments Group Ltd. bought a new position in shares of Univest Corporation of Pennsylvania during the 2nd quarter valued at about $42,000. Geneos Wealth Management Inc. increased its holdings 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 worth $76,000 after purchasing an additional 2,252 shares during the last quarter. Osaic Holdings Inc. purchased a new stake in shares of Univest Corporation of Pennsylvania in the second quarter worth about $91,000. Tower Research Capital LLC TRC boosted its stake 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 valued at $97,000 after buying an additional 1,324 shares during the last quarter. Finally, Mariner LLC bought a new position in Univest Corporation of Pennsylvania during the fourth quarter valued at approximately $211,000. 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.