Univest Corporation of Pennsylvania (NASDAQ:UVSP) Reaches New 1-Year High – Here’s What Happened

Univest Corporation of Pennsylvania (NASDAQ:UVSP) shares reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $33.06 and last traded at $33.0250, with a volume of 19106 shares trading hands. The stock had previously closed at $32.53.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Weiss Ratings reiterated a “buy (b)” rating on shares of Univest Corporation of Pennsylvania in a report on Monday. Piper Sandler began coverage on shares of Univest Corporation of Pennsylvania in a research note on Wednesday. They set a “neutral” rating and a $34.00 target price for the company. Finally, Keefe, Bruyette & Woods increased their price target on shares of Univest Corporation of Pennsylvania from $33.00 to $34.00 and gave the company a “market perform” rating in a report on Friday, October 24th. One equities research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $33.00.

Univest Corporation of Pennsylvania Trading Up 0.6%

The company has a 50 day moving average of $30.32 and a 200 day moving average of $30.37. The firm has a market cap of $952.37 million, a price-to-earnings ratio of 11.15 and a beta of 0.70. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.14.

Univest Corporation of Pennsylvania (NASDAQ:UVSP) last issued its quarterly earnings data on Tuesday, February 8th. The financial services provider reported $0.52 earnings per share (EPS) for the quarter. Univest Corporation of Pennsylvania had a return on equity of 9.55% and a net margin of 16.94%.The company had revenue of $62.30 million during the quarter. As a group, research analysts anticipate that Univest Corporation of Pennsylvania will post 2.36 EPS for the current year.

Univest Corporation of Pennsylvania Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 19th. Investors of record on Wednesday, November 5th were issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend was Wednesday, November 5th. Univest Corporation of Pennsylvania’s dividend payout ratio (DPR) is currently 29.33%.

Institutional Trading of Univest Corporation of Pennsylvania

Several hedge funds have recently modified their holdings of the company. XTX Topco Ltd bought a new position in shares of Univest Corporation of Pennsylvania in the first quarter valued at approximately $221,000. PNC Financial Services Group Inc. boosted its stake in Univest Corporation of Pennsylvania by 22.4% in the first quarter. PNC Financial Services Group Inc. now owns 5,872 shares of the financial services provider’s stock worth $167,000 after purchasing an additional 1,076 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Univest Corporation of Pennsylvania by 4.3% during the first quarter. Vanguard Group Inc. now owns 1,695,235 shares of the financial services provider’s stock worth $48,077,000 after purchasing an additional 69,462 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Univest Corporation of Pennsylvania by 8.4% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 26,792 shares of the financial services provider’s stock valued at $760,000 after buying an additional 2,070 shares during the last quarter. Finally, Nuveen LLC acquired a new position in Univest Corporation of Pennsylvania during the 1st quarter worth about $3,384,000. Institutional investors and hedge funds own 75.07% of the company’s stock.

About Univest Corporation of Pennsylvania

Univest Financial Corporation operates as the bank holding company for Univest Bank and Trust Co that provides banking products and services primarily in the United States. It operates through three segments: Banking, Wealth Management, and Insurance. The Banking segment offers a range of banking services, such as deposit taking, loan origination and servicing, mortgage banking, other general banking, and equipment lease financing services for individuals, businesses, municipalities, and nonprofit organizations.