Univest Corporation of Pennsylvania (NASDAQ:UVSP) Shares Pass Above 200-Day Moving Average – Here’s Why

Shares of Univest Corporation of Pennsylvania (NASDAQ:UVSP) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $38.37 and traded as high as $42.98. Univest Corporation of Pennsylvania shares last traded at $42.19, with a volume of 237,486 shares.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on UVSP. Zacks Research upgraded shares of Univest Corporation of Pennsylvania from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 28th. Weiss Ratings upgraded shares of Univest Corporation of Pennsylvania from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Tuesday, July 28th. Finally, Keefe, Bruyette & Woods raised their target price on shares of Univest Corporation of Pennsylvania from $45.00 to $47.00 and gave the company a “market perform” rating in a research note on Friday, July 24th. Two research analysts have rated the stock with a Strong Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $40.50.

Univest Corporation of Pennsylvania Stock Performance

The business has a 50 day moving average of $43.24 and a 200 day moving average of $38.42. The company has a market capitalization of $1.18 billion, a P/E ratio of 12.41 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 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 the consensus estimate of $86.66 million. Univest Corporation of Pennsylvania had a return on equity of 10.41% and a net margin of 18.86%. On average, sell-side analysts predict that Univest Corporation of Pennsylvania will post 3.67 earnings per share for the current year.

Univest Corporation of Pennsylvania Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 19th. Investors of record on Wednesday, August 5th will be issued a $0.23 dividend. The ex-dividend date of this dividend is Wednesday, August 5th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.1%. Univest Corporation of Pennsylvania’s dividend payout ratio (DPR) is 26.59%.

Insider Buying and Selling at Univest Corporation of Pennsylvania

In other Univest Corporation of Pennsylvania news, CFO Brian J. Richardson sold 2,090 shares of Univest Corporation of Pennsylvania stock in a transaction on Monday, June 8th. The shares were sold at an average price of $40.90, for a total value of $85,481.00. Following the completion of the transaction, the chief financial officer directly owned 24,228 shares of the company’s stock, valued at $990,925.20. This trade represents a 7.94% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Jeffrey M. Schweitzer sold 13,933 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer owned 110,513 shares in the company, valued at approximately $4,521,086.83. This trade represents a 11.20% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 1.83% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in UVSP. Assenagon Asset Management S.A. bought a new position in Univest Corporation of Pennsylvania during the first quarter valued at $8,819,000. The Manufacturers Life Insurance Company raised its stake in shares of 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 during the period. UNIVEST FINANCIAL Corp lifted its holdings in shares of Univest Corporation of Pennsylvania by 22.2% in the 4th quarter. UNIVEST FINANCIAL Corp now owns 617,526 shares of the financial services provider’s stock worth $20,218,000 after acquiring an additional 112,203 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Univest Corporation of Pennsylvania by 38.0% in the 4th quarter. Goldman Sachs Group Inc. now owns 379,679 shares of the financial services provider’s stock worth $12,431,000 after acquiring an additional 104,516 shares during the last quarter. Finally, SG Americas Securities LLC boosted its stake in shares of Univest Corporation of Pennsylvania by 359.9% during the 1st quarter. SG Americas Securities LLC now owns 99,155 shares of the financial services provider’s stock worth $3,397,000 after purchasing an additional 77,594 shares during the period. 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.