Univest Corporation of Pennsylvania (NASDAQ:UVSP) Releases Earnings Results, Misses Expectations By $0.05 EPS

Univest Corporation of Pennsylvania (NASDAQ:UVSP) issued its earnings results on Wednesday. The financial services provider reported $0.82 earnings per share for the quarter, missing the consensus estimate of $0.87 by ($0.05), Zacks reports. Univest Corporation of Pennsylvania had a net margin of 18.86% and a return on equity of 10.44%. The company had revenue of $84.35 million for the quarter, compared to analysts’ expectations of $86.66 million.

Univest Corporation of Pennsylvania Trading Up 1.1%

Shares of NASDAQ:UVSP traded up $0.51 on Friday, hitting $44.69. The company had a trading volume of 27,450 shares, compared to its average volume of 194,546. The firm’s 50-day simple moving average is $41.98 and its two-hundred day simple moving average is $37.43. The firm has a market capitalization of $1.24 billion, a price-to-earnings ratio of 12.92 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 has a 1 year low of $27.91 and a 1 year high of $45.46.

Univest Corporation of Pennsylvania Announces Dividend

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

Analyst Upgrades and Downgrades

Several analysts have weighed in on UVSP shares. Weiss Ratings upgraded Univest Corporation of Pennsylvania from a “buy (b)” rating to a “buy (b+)” rating in a research report on Wednesday, July 8th. Keefe, Bruyette & Woods upped their price target 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. One investment analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $37.00.

Insider Activity at Univest Corporation of Pennsylvania

In other Univest Corporation of Pennsylvania news, Director Natalye Paquin sold 13,000 shares of the firm’s stock in a transaction dated Monday, April 27th. The shares were sold at an average price of $37.80, for a total value of $491,400.00. Following the completion of the sale, the director directly owned 17,004 shares in the company, valued at $642,751.20. This trade represents a 43.33% decrease in their ownership of the stock. 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 Univest Corporation of Pennsylvania stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $40.91, for a total value of $569,999.03. Following the sale, the chief executive officer directly owned 110,513 shares in the company, valued at approximately $4,521,086.83. The trade was a 11.20% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 36,268 shares of company stock worth $1,427,334 over the last ninety days. Corporate insiders own 1.83% of the company’s stock.

Institutional Investors Weigh In On Univest Corporation of Pennsylvania

Several hedge funds have recently made changes to their positions in the company. Occudo Quantitative Strategies LP boosted its holdings in shares of Univest Corporation of Pennsylvania by 8.7% during the 4th quarter. Occudo Quantitative Strategies LP now owns 10,005 shares of the financial services provider’s stock valued at $328,000 after buying an additional 804 shares in the last quarter. Cerity Partners LLC increased its stake in shares of Univest Corporation of Pennsylvania by 27.3% in the 4th quarter. Cerity Partners LLC now owns 10,448 shares of the financial services provider’s stock worth $342,000 after acquiring an additional 2,238 shares in the last quarter. Polymer Capital Management US LLC increased its stake in shares of Univest Corporation of Pennsylvania by 24.1% in the 3rd quarter. Polymer Capital Management US LLC now owns 9,659 shares of the financial services provider’s stock worth $290,000 after acquiring an additional 1,876 shares in the last quarter. Mercer Global Advisors Inc. ADV bought a new position in shares of Univest Corporation of Pennsylvania in the 3rd quarter worth about $218,000. Finally, Comerica Bank lifted its position in Univest Corporation of Pennsylvania by 21.4% during the 3rd quarter. Comerica Bank now owns 8,031 shares of the financial services provider’s stock valued at $241,000 after acquiring an additional 1,416 shares during the period. 75.07% of the stock is currently owned by institutional investors.

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.