Univest Corporation of Pennsylvania (NASDAQ:UVSP) Issues Quarterly Earnings Results

Univest Corporation of Pennsylvania (NASDAQ:UVSP) announced its quarterly earnings results on Wednesday. The financial services provider reported $0.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.01, Zacks reports. The business had revenue of $84.57 million during the quarter, compared to the consensus estimate of $82.54 million. Univest Corporation of Pennsylvania had a return on equity of 9.55% and a net margin of 16.94%.

Univest Corporation of Pennsylvania Price Performance

Shares of UVSP stock opened at $33.42 on Thursday. The business has a fifty day simple moving average of $33.24 and a 200 day simple moving average of $31.30. The company has a market cap of $951.80 million, a P/E ratio of 11.14 and a beta of 0.67. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.14. Univest Corporation of Pennsylvania has a twelve month low of $22.83 and a twelve month high of $35.65.

Univest Corporation of Pennsylvania Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 25th. Stockholders of record on Wednesday, February 11th will be issued a dividend of $0.22 per share. The ex-dividend date of this dividend is Wednesday, February 11th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.6%. Univest Corporation of Pennsylvania’s payout ratio is 29.33%.

Institutional Investors Weigh In On Univest Corporation of Pennsylvania

Several hedge funds and other institutional investors have recently made changes to their positions in UVSP. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Univest Corporation of Pennsylvania by 4.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,171 shares of the financial services provider’s stock valued at $487,000 after buying an additional 703 shares in the last quarter. Empowered Funds LLC boosted its holdings in shares of Univest Corporation of Pennsylvania by 4.2% during the 1st quarter. Empowered Funds LLC now owns 102,517 shares of the financial services provider’s stock valued at $2,907,000 after acquiring an additional 4,087 shares in the last quarter. Jane Street Group LLC acquired a new stake in shares of Univest Corporation of Pennsylvania during the 1st quarter valued at $1,467,000. Geneos Wealth Management Inc. grew its position in Univest Corporation of Pennsylvania by 545.3% during the 1st 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. Finally, Legal & General Group Plc increased its holdings in Univest Corporation of Pennsylvania by 8.1% in the 2nd quarter. Legal & General Group Plc now owns 30,612 shares of the financial services provider’s stock worth $920,000 after purchasing an additional 2,291 shares in the last quarter. 75.07% of the stock is owned by institutional investors.

Analysts Set New Price Targets

UVSP has been the topic of a number of recent research reports. Keefe, Bruyette & Woods raised their price target on shares of Univest Corporation of Pennsylvania from $33.00 to $34.00 and gave the stock a “market perform” rating in a research report on Friday, October 24th. Piper Sandler started coverage on shares of Univest Corporation of Pennsylvania in a report on Wednesday, December 3rd. They issued a “neutral” rating and a $34.00 price objective for the company. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Univest Corporation of Pennsylvania in a report on Monday, December 29th. Finally, Zacks Research upgraded shares of Univest Corporation of Pennsylvania to a “hold” rating in a research report on Thursday, December 4th. One equities research analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $34.00.

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.