Michael Turner Sells 8,000 Shares of Univest Corporation of Pennsylvania (NASDAQ:UVSP) Stock

Univest Corporation of Pennsylvania (NASDAQ:UVSP) Director Michael Turner sold 8,000 shares of the stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $43.03, for a total value of $344,240.00. Following the sale, the director directly owned 24,684 shares of the company’s stock, valued at approximately $1,062,152.52. This represents a 24.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Univest Corporation of Pennsylvania Stock Performance

Shares of UVSP opened at $43.16 on Friday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.02 and a current ratio of 1.02. The stock has a market capitalization of $1.19 billion, a P/E ratio of 12.47 and a beta of 0.66. The company’s fifty day moving average is $43.42 and its two-hundred day moving average is $38.58. Univest Corporation of Pennsylvania has a 1 year low of $28.03 and a 1 year high of $45.46.

Univest Corporation of Pennsylvania (NASDAQ:UVSP) last announced its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $0.82 EPS for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.05). Univest Corporation of Pennsylvania had a return on equity of 10.41% and a net margin of 18.86%.The firm had revenue of $89.59 million for the quarter, compared to analysts’ expectations of $86.66 million. On average, sell-side analysts predict that Univest Corporation of Pennsylvania will post 3.67 earnings per share for the current year.

Univest Corporation of Pennsylvania Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 19th. Investors of record on Wednesday, August 5th will be issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend is Wednesday, August 5th. Univest Corporation of Pennsylvania’s dividend payout ratio is currently 26.59%.

Analysts Set New Price Targets

A number of brokerages have weighed in on UVSP. Weiss Ratings raised Univest Corporation of Pennsylvania from a “buy (b+)” rating to a “buy (a-)” rating in a report on Tuesday, July 28th. Zacks Research upgraded Univest Corporation of Pennsylvania from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 28th. Finally, Keefe, Bruyette & Woods increased their target price on Univest Corporation of Pennsylvania from $45.00 to $47.00 and gave the stock a “market perform” rating in a research note on Friday, July 24th. Two analysts have rated the stock with a Strong Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, Univest Corporation of Pennsylvania presently has an average rating of “Buy” and a consensus price target of $40.50.

Institutional Investors Weigh In On Univest Corporation of Pennsylvania

Institutional investors and hedge funds have recently made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Univest Corporation of Pennsylvania by 4.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,171 shares of the financial services provider’s stock valued at $487,000 after acquiring an additional 703 shares during the last quarter. Empowered Funds LLC raised its position in Univest Corporation of Pennsylvania by 4.2% during the first quarter. Empowered Funds LLC now owns 102,517 shares of the financial services provider’s stock worth $2,907,000 after acquiring an additional 4,087 shares during the last quarter. Jane Street Group LLC purchased a new stake in shares of Univest Corporation of Pennsylvania in the first quarter valued at about $1,467,000. Geneos Wealth Management Inc. lifted its holdings in shares of Univest Corporation of Pennsylvania by 545.3% in the first quarter. Geneos Wealth Management Inc. now owns 2,665 shares of the financial services provider’s stock valued at $76,000 after purchasing an additional 2,252 shares in the last quarter. Finally, Legal & General Group Plc grew its position in shares of Univest Corporation of Pennsylvania by 8.1% in the second quarter. Legal & General Group Plc now owns 30,612 shares of the financial services provider’s stock valued at $920,000 after purchasing an additional 2,291 shares during the last quarter. 75.07% of the stock is currently owned by hedge funds and other 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.