Univest Corporation of Pennsylvania (NASDAQ:UVSP) Hits New 1-Year High – Still a Buy?

Univest Corporation of Pennsylvania (NASDAQ:UVSP)’s stock price reached a new 52-week high during mid-day trading on Friday . The company traded as high as $40.67 and last traded at $40.5540, with a volume of 34460 shares trading hands. The stock had previously closed at $40.31.

Analyst Upgrades and Downgrades

UVSP has been the subject of a number of analyst reports. Weiss Ratings reissued a “buy (b)” rating on shares of Univest Corporation of Pennsylvania in a research report on Friday, March 27th. Keefe, Bruyette & Woods boosted their price objective on Univest Corporation of Pennsylvania from $37.00 to $40.00 and gave the stock a “market perform” rating in a research report on Friday, April 24th. One research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $37.00.

Univest Corporation of Pennsylvania Stock Performance

The firm has a market capitalization of $1.14 billion, a price-to-earnings ratio of 12.27 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 0.10. The stock has a 50-day moving average price of $37.49 and a 200 day moving average price of $34.91.

Univest Corporation of Pennsylvania (NASDAQ:UVSP) last announced its quarterly earnings data on Wednesday, April 22nd. The financial services provider reported $0.96 EPS for the quarter, topping analysts’ consensus estimates of $0.84 by $0.12. Univest Corporation of Pennsylvania had a return on equity of 10.19% and a net margin of 18.25%.The business had revenue of $87.45 million during the quarter, compared to the consensus estimate of $84.85 million. On average, analysts forecast that Univest Corporation of Pennsylvania will post 3.6 EPS for the current year.

Univest Corporation of Pennsylvania Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 20th. Investors of record on Wednesday, May 6th were issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 2.3%. This is a positive change from Univest Corporation of Pennsylvania’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Wednesday, May 6th. Univest Corporation of Pennsylvania’s dividend payout ratio is currently 27.63%.

Insider Buying and Selling

In related news, COO Michael S. Keim sold 7,245 shares of the company’s stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $38.71, for a total value of $280,453.95. Following the completion of the transaction, the chief operating officer directly 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Natalye Paquin sold 13,000 shares of the company’s stock in a transaction that occurred on 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 transaction, the director directly owned 17,004 shares of the company’s stock, valued at $642,751.20. This trade represents a 43.33% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 1.83% of the company’s stock.

Hedge Funds Weigh In On Univest Corporation of Pennsylvania

A number of institutional investors and hedge funds have recently added to or reduced their stakes in UVSP. Assenagon Asset Management S.A. acquired a new position in Univest Corporation of Pennsylvania in the first quarter valued at approximately $8,819,000. The Manufacturers Life Insurance Company boosted its holdings in Univest Corporation of Pennsylvania by 15.1% in the second quarter. The Manufacturers Life Insurance Company now owns 1,475,872 shares of the financial services provider’s stock valued at $44,335,000 after purchasing an additional 193,561 shares in the last quarter. UNIVEST FINANCIAL Corp boosted its holdings in Univest Corporation of Pennsylvania by 22.2% in the fourth quarter. UNIVEST FINANCIAL Corp now owns 617,526 shares of the financial services provider’s stock valued at $20,218,000 after purchasing an additional 112,203 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in Univest Corporation of Pennsylvania by 38.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 379,679 shares of the financial services provider’s stock valued at $12,431,000 after purchasing an additional 104,516 shares in the last quarter. Finally, SG Americas Securities LLC boosted its holdings in Univest Corporation of Pennsylvania by 359.9% in the first quarter. SG Americas Securities LLC now owns 99,155 shares of the financial services provider’s stock valued at $3,397,000 after purchasing an additional 77,594 shares in the last quarter. 75.07% of the stock is owned by institutional investors and hedge funds.

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.