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

Univest Corporation of Pennsylvania (NASDAQ:UVSP) issued its earnings results on Wednesday. The financial services provider reported $0.82 EPS for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.05), Zacks reports. Univest Corporation of Pennsylvania had a return on equity of 10.19% and a net margin of 18.25%.

Univest Corporation of Pennsylvania Stock Down 1.4%

Shares of NASDAQ UVSP traded down $0.63 during mid-day trading on Wednesday, reaching $43.79. 288,587 shares of the company were exchanged, compared to its average volume of 194,460. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.10. The stock has a market cap of $1.22 billion, a price-to-earnings ratio of 13.15 and a beta of 0.66. Univest Corporation of Pennsylvania has a 1 year low of $27.91 and a 1 year high of $45.46. The firm has a 50-day moving average of $41.74 and a 200 day moving average of $37.27.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Weiss Ratings raised 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 raised 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. One investment analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $37.00.

Insider Buying and Selling

In other Univest Corporation of Pennsylvania news, CEO Jeffrey M. Schweitzer sold 13,933 shares of Univest Corporation of Pennsylvania stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $40.91, for a total value of $569,999.03. Following the transaction, the chief executive officer owned 110,513 shares in the company, valued at $4,521,086.83. The trade was a 11.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Michael S. Keim sold 7,245 shares of the business’s stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $38.71, for a total transaction 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 $2,592,757.09. This represents a 9.76% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 36,268 shares of company stock worth $1,427,334 in the last three months. 1.83% of the stock is owned by company insiders.

Institutional Investors Weigh In On Univest Corporation of Pennsylvania

Hedge funds and other institutional investors have recently bought and sold shares of the company. Mercer Global Advisors Inc. ADV boosted its stake in Univest Corporation of Pennsylvania by 17.8% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 8,536 shares of the financial services provider’s stock valued at $279,000 after acquiring an additional 1,290 shares in the last quarter. Empowered Funds LLC boosted its holdings in Univest Corporation of Pennsylvania by 8.1% in the fourth quarter. Empowered Funds LLC now owns 123,230 shares of the financial services provider’s stock worth $4,035,000 after acquiring an additional 9,182 shares in the last quarter. Polymer Capital Management US LLC increased its stake in Univest Corporation of Pennsylvania by 15.1% during 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 purchasing an additional 1,458 shares in the last quarter. Occudo Quantitative Strategies LP raised 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 acquiring an additional 804 shares during the last quarter. Finally, Man Group plc acquired a new stake in shares of Univest Corporation of Pennsylvania during the fourth quarter worth about $711,000. Hedge funds and other 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.