Univest Corporation of Pennsylvania (NASDAQ:UVSP) Share Price Passes Above Two Hundred Day Moving Average – What’s Next?

Univest Corporation of Pennsylvania (NASDAQ:UVSP)’s share price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $36.67 and traded as high as $44.02. Univest Corporation of Pennsylvania shares last traded at $43.84, with a volume of 246,223 shares traded.

Analysts Set New Price Targets

Several analysts recently issued reports on UVSP shares. Keefe, Bruyette & Woods boosted their price objective on shares of 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 raised shares of Univest Corporation of Pennsylvania from a “buy (b)” rating to a “buy (b+)” rating in a research note on Wednesday. One equities research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $37.00.

Univest Corporation of Pennsylvania Stock Down 0.9%

The business’s fifty day moving average is $40.94 and its two-hundred day moving average is $36.71. The stock has a market cap of $1.21 billion, a price-to-earnings ratio of 13.05 and a beta of 0.66. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.10.

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 analysts’ consensus estimates of $0.84 by $0.12. Univest Corporation of Pennsylvania had a net margin of 18.25% and a return on equity of 10.19%. The company had revenue of $87.45 million for the quarter, compared to analyst estimates of $84.85 million. Equities analysts forecast that Univest Corporation of Pennsylvania will post 3.6 earnings per share for the current fiscal year.

Univest Corporation of Pennsylvania Increases Dividend

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

Insider Buying and Selling

In related news, 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 of the company’s stock, valued at $4,521,086.83. The trade was a 11.20% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Brian J. Richardson sold 2,090 shares of the company’s stock in a transaction dated 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 in the company, valued at approximately $990,925.20. This trade represents a 7.94% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 36,268 shares of company stock valued at $1,427,334 in the last three months. 1.83% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Univest Corporation of Pennsylvania

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Assenagon Asset Management S.A. acquired a new position in shares of Univest Corporation of Pennsylvania during the first quarter worth about $8,819,000. The Manufacturers Life Insurance Company raised its holdings in Univest Corporation of Pennsylvania by 15.1% in the second quarter. The Manufacturers Life Insurance Company now owns 1,475,872 shares of the financial services provider’s stock valued at $44,335,000 after acquiring an additional 193,561 shares in the last quarter. UNIVEST FINANCIAL Corp raised its holdings in Univest Corporation of Pennsylvania by 22.2% in the fourth quarter. UNIVEST FINANCIAL Corp now owns 617,526 shares of the financial services provider’s stock valued at $20,218,000 after acquiring an additional 112,203 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in Univest Corporation of Pennsylvania by 38.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 379,679 shares of the financial services provider’s stock valued at $12,431,000 after acquiring an additional 104,516 shares in the last quarter. Finally, SG Americas Securities LLC lifted its stake in Univest Corporation of Pennsylvania by 359.9% in the first quarter. SG Americas Securities LLC now owns 99,155 shares of the financial services provider’s stock worth $3,397,000 after acquiring an additional 77,594 shares during 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.