Univest Corporation of Pennsylvania (NASDAQ:UVSP) Share Price Crosses Above Two Hundred Day Moving Average – Here’s Why

Univest Corporation of Pennsylvania (NASDAQ:UVSP) passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $32.32 and traded as high as $34.29. Univest Corporation of Pennsylvania shares last traded at $33.70, with a volume of 196,242 shares trading hands.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Keefe, Bruyette & Woods increased their price objective on shares of Univest Corporation of Pennsylvania from $34.00 to $36.00 and gave the company a “market perform” rating in a report on Tuesday, February 3rd. Zacks Research raised shares of Univest Corporation of Pennsylvania to a “hold” rating in a report on Thursday, December 4th. Piper Sandler initiated coverage on Univest Corporation of Pennsylvania in a research note on Wednesday, December 3rd. They issued a “neutral” rating and a $34.00 price target on the stock. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Univest Corporation of Pennsylvania in a research report on Monday, December 29th. One research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $35.00.

Univest Corporation of Pennsylvania Stock Down 1.4%

The firm has a market cap of $941.24 million, a P/E ratio of 10.68 and a beta of 0.67. The firm’s 50 day moving average is $34.02 and its two-hundred day moving average is $32.35. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.32.

Univest Corporation of Pennsylvania (NASDAQ:UVSP) last posted its earnings results on Thursday, January 29th. The financial services provider reported $0.79 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.01. The company had revenue of $84.57 million for the quarter, compared to analyst estimates of $82.54 million. Univest Corporation of Pennsylvania had a net margin of 17.51% and a return on equity of 9.82%. As a group, research analysts anticipate that Univest Corporation of Pennsylvania will post 2.36 EPS for the current fiscal year.

Univest Corporation of Pennsylvania Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 25th. Shareholders of record on Wednesday, February 11th were paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend was Wednesday, February 11th. Univest Corporation of Pennsylvania’s payout ratio is presently 28.03%.

Institutional Investors Weigh In On Univest Corporation of Pennsylvania

Hedge funds have recently modified their holdings of the business. Hsbc Holdings PLC acquired a new stake in Univest Corporation of Pennsylvania during the 4th quarter worth approximately $484,000. Mercer Global Advisors Inc. ADV raised its holdings in shares of Univest Corporation of Pennsylvania by 17.8% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 8,536 shares of the financial services provider’s stock worth $279,000 after acquiring an additional 1,290 shares during the period. Empowered Funds LLC lifted its position in Univest Corporation of Pennsylvania by 8.1% in the 4th quarter. Empowered Funds LLC now owns 123,230 shares of the financial services provider’s stock valued at $4,035,000 after acquiring an additional 9,182 shares in the last quarter. Polymer Capital Management US LLC lifted its position in Univest Corporation of Pennsylvania by 15.1% in the 4th quarter. Polymer Capital Management US LLC now owns 11,117 shares of the financial services provider’s stock valued at $364,000 after acquiring an additional 1,458 shares in the last quarter. Finally, Occudo Quantitative Strategies LP boosted its stake in Univest Corporation of Pennsylvania by 8.7% in the 4th quarter. Occudo Quantitative Strategies LP now owns 10,005 shares of the financial services provider’s stock worth $328,000 after purchasing an additional 804 shares during the period. Institutional investors and hedge funds 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.