Univest Corporation of Pennsylvania (NASDAQ:UVSP) Announces Earnings Results, Misses Estimates By $0.20 EPS

Univest Corporation of Pennsylvania (NASDAQ:UVSP) released its quarterly earnings results on Wednesday. The financial services provider reported $0.78 earnings per share for the quarter, missing analysts’ consensus estimates of $0.98 by ($0.20), Zacks reports. The company had revenue of $90.03 million for the quarter, compared to analyst estimates of $90.55 million. Univest Corporation of Pennsylvania had a return on equity of 9.93% and a net margin of 17.95%.

Univest Corporation of Pennsylvania Trading Up 0.5%

Univest Corporation of Pennsylvania stock opened at $39.52 on Friday. Univest Corporation of Pennsylvania has a 52 week low of $28.20 and a 52 week high of $45.46. 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 firm has a market capitalization of $1.09 billion, a PE ratio of 11.81 and a beta of 0.67. The business’s 50-day simple moving average is $41.69 and its 200-day simple moving average is $39.18.

Univest Corporation of Pennsylvania Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 25th. Shareholders of record on Wednesday, November 11th will be given a dividend of $0.23 per share. The ex-dividend date of this dividend is Tuesday, November 10th. This represents a $0.92 dividend on an annualized basis and a yield of 2.3%. Univest Corporation of Pennsylvania’s payout ratio is currently 26.59%.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Zacks Research lowered shares of Univest Corporation of Pennsylvania from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 2nd. Weiss Ratings reissued a “buy (a-)” rating on shares of Univest Corporation of Pennsylvania in a research note on Monday. Finally, Keefe, Bruyette & Woods boosted their target price on Univest Corporation of Pennsylvania from $45.00 to $47.00 and gave the stock a “market perform” rating in a report on Friday, July 24th. One investment analyst has rated the stock with a Strong Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, Univest Corporation of Pennsylvania has a consensus rating of “Moderate Buy” and a consensus price target of $40.50.

Insider Transactions at Univest Corporation of Pennsylvania

In other Univest Corporation of Pennsylvania news, Director Michael Turner sold 8,000 shares of the company’s stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $43.03, for a total transaction 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 filing with the Securities & Exchange Commission, which can be accessed through this link. 1.83% of the stock is owned by corporate insiders.

About Univest Corporation of Pennsylvania

Univest Corporation of Pennsylvania is a financial services holding company headquartered in Souderton, Pennsylvania. Through its principal subsidiary, Univest Bank and Trust Co, the company provides banking and related financial services to individuals, families and businesses.

Univest’s banking services include checking and savings accounts, consumer and commercial lending, mortgages, cash-management and treasury services, online and mobile banking, and other deposit products. The company also offers wealth management, investment and trust services, as well as insurance products through affiliated operations.

Founded in 1876, Univest has historically focused on serving communities in southeastern Pennsylvania, including the Philadelphia suburbs and surrounding counties.