Univest Corporation of Pennsylvania (NASDAQ:UVSP) Reaches New 12-Month High – Here’s Why

Univest Corporation of Pennsylvania (NASDAQ:UVSP)’s share price reached a new 52-week high during trading on Tuesday . The company traded as high as $39.85 and last traded at $39.85, with a volume of 4209 shares. The stock had previously closed at $39.30.

Analysts Set New Price Targets

UVSP has been the topic of a number of recent analyst reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Univest Corporation of Pennsylvania in a research note on Friday, March 27th. Keefe, Bruyette & Woods lifted 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 note on Friday, April 24th. One research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $37.00.

Univest Corporation of Pennsylvania Stock Performance

The firm has a market capitalization of $1.11 billion, a P/E ratio of 11.94 and a beta of 0.67. The stock has a fifty day simple moving average of $36.46 and a two-hundred day simple moving average of $34.38. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.02 and a quick ratio of 1.02.

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

Univest Corporation of Pennsylvania Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 20th. Stockholders of record on Wednesday, May 6th were issued a dividend of $0.23 per share. This is a positive change from Univest Corporation of Pennsylvania’s previous quarterly dividend of $0.22. This represents a $0.92 annualized dividend and a dividend yield of 2.3%. The ex-dividend date was Wednesday, May 6th. Univest Corporation of Pennsylvania’s dividend payout ratio is presently 27.63%.

Insider Buying and Selling

In other 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 transaction of $280,453.95. Following 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 Securities & Exchange Commission, which is available through this link. Also, Director Natalye Paquin sold 13,000 shares of the company’s stock in a transaction that occurred on Monday, April 27th. The stock was sold at an average price of $37.80, for a total value of $491,400.00. Following the transaction, the director directly owned 17,004 shares in the company, valued at $642,751.20. The trade was a 43.33% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 1.83% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Univest Corporation of Pennsylvania

Institutional investors have recently modified their holdings of the company. State of Alaska Department of Revenue acquired a new position in shares of Univest Corporation of Pennsylvania during the third quarter worth approximately $34,000. Russell Investments Group Ltd. acquired a new position in shares of Univest Corporation of Pennsylvania during the second quarter worth approximately $42,000. Geneos Wealth Management Inc. raised its position in shares of Univest Corporation of Pennsylvania by 545.3% during the first quarter. Geneos Wealth Management Inc. now owns 2,665 shares of the financial services provider’s stock worth $76,000 after purchasing an additional 2,252 shares during the period. Osaic Holdings Inc. acquired a new position in shares of Univest Corporation of Pennsylvania during the second quarter worth approximately $91,000. Finally, Tower Research Capital LLC TRC raised its position in shares of Univest Corporation of Pennsylvania by 69.6% during the second quarter. Tower Research Capital LLC TRC now owns 3,225 shares of the financial services provider’s stock worth $97,000 after purchasing an additional 1,324 shares during the period. 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.