Univest Corporation of Pennsylvania (NASDAQ:UVSP) Sets New 12-Month High – Here’s What Happened

Shares of Univest Corporation of Pennsylvania (NASDAQ:UVSP) hit a new 52-week high during trading on Wednesday . The stock traded as high as $39.12 and last traded at $39.0780, with a volume of 54515 shares trading hands. The stock had previously closed at $38.42.

Wall Street Analyst Weigh In

Several brokerages recently commented on UVSP. Keefe, Bruyette & Woods boosted their price target on Univest Corporation of Pennsylvania from $37.00 to $40.00 and gave the company a “market perform” rating in a research note on Friday, April 24th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Univest Corporation of Pennsylvania in a research note on Friday, March 27th. One analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $37.00.

Univest Corporation of Pennsylvania Trading Up 0.3%

The company has a 50 day moving average of $36.20 and a 200 day moving average of $34.25. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.10. The firm has a market cap of $1.10 billion, a price-to-earnings ratio of 11.82 and a beta of 0.67.

Univest Corporation of Pennsylvania (NASDAQ:UVSP) last announced its quarterly earnings results on Wednesday, April 22nd. The financial services provider reported $0.96 EPS for the quarter, beating the consensus estimate of $0.84 by $0.12. Univest Corporation of Pennsylvania had a return on equity of 10.19% and a net margin of 18.25%.The business had revenue of $87.45 million for the quarter, compared to analyst estimates of $84.85 million. As a group, research analysts anticipate that Univest Corporation of Pennsylvania will post 3.6 EPS for the current year.

Univest Corporation of Pennsylvania Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 20th. Shareholders of record on Wednesday, May 6th were given a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 2.3%. The ex-dividend date was Wednesday, May 6th. This is a positive change from Univest Corporation of Pennsylvania’s previous quarterly dividend of $0.22. Univest Corporation of Pennsylvania’s dividend payout ratio is presently 27.63%.

Insider Buying and Selling at Univest Corporation of Pennsylvania

In other Univest Corporation of Pennsylvania news, Director Natalye Paquin sold 13,000 shares of Univest Corporation of Pennsylvania stock in a transaction on Monday, April 27th. The stock was sold at an average price of $37.80, for a total value of $491,400.00. Following the completion of the transaction, the director owned 17,004 shares in the company, valued at approximately $642,751.20. The trade was a 43.33% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Michael S. Keim sold 7,245 shares of Univest Corporation of Pennsylvania stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $38.71, for a total value of $280,453.95. Following the completion of the transaction, the chief operating officer owned 66,979 shares of the company’s stock, valued at approximately $2,592,757.09. The trade was a 9.76% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 1.83% of the company’s stock.

Hedge Funds Weigh In On Univest Corporation of Pennsylvania

Several institutional investors have recently bought and sold shares of UVSP. State of Alaska Department of Revenue bought a new position in Univest Corporation of Pennsylvania in the 3rd quarter valued at $34,000. Russell Investments Group Ltd. bought a new position in Univest Corporation of Pennsylvania in the 2nd quarter valued at $42,000. Geneos Wealth Management Inc. raised its position in shares of Univest Corporation of Pennsylvania by 545.3% during the first quarter. Geneos Wealth Management Inc. now owns 2,665 shares of the financial services provider’s stock worth $76,000 after acquiring an additional 2,252 shares during the last quarter. Osaic Holdings Inc. bought a new stake in shares of Univest Corporation of Pennsylvania during the second quarter worth $91,000. Finally, Tower Research Capital LLC TRC raised its position in shares of 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 worth $97,000 after acquiring an additional 1,324 shares during the last quarter. Institutional investors own 75.07% of the company’s stock.

About Univest Corporation of Pennsylvania

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.