Univest Financial (NASDAQ:UVSP) Releases Quarterly Earnings Results, Beats Estimates By $0.10 EPS

Univest Financial (NASDAQ:UVSP) announced its earnings results on Wednesday. The financial services provider reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.10, Zacks reports. The firm had revenue of $120.81 million during the quarter, compared to analyst estimates of $72.50 million. Univest Financial had a net margin of 14.91% and a return on equity of 8.29%. During the same quarter in the prior year, the firm posted $0.61 EPS.

Univest Financial Price Performance

Shares of NASDAQ:UVSP traded up $1.01 during trading hours on Friday, hitting $29.18. 180,636 shares of the company’s stock traded hands, compared to its average volume of 115,014. Univest Financial has a 52 week low of $16.10 and a 52 week high of $29.49. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.01 and a current ratio of 1.01. The company’s fifty day simple moving average is $23.03 and its two-hundred day simple moving average is $21.33. The company has a market cap of $854.10 million, a price-to-earnings ratio of 12.21 and a beta of 0.86.

Univest Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 21st. Stockholders of record on Wednesday, August 7th will be given a dividend of $0.21 per share. The ex-dividend date is Wednesday, August 7th. This represents a $0.84 annualized dividend and a dividend yield of 2.88%. Univest Financial’s dividend payout ratio (DPR) is 35.15%.

Insider Activity

In other news, CEO Jeffrey M. Schweitzer sold 9,000 shares of the firm’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $22.55, for a total transaction of $202,950.00. Following the completion of the transaction, the chief executive officer now owns 90,187 shares in the company, valued at approximately $2,033,716.85. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 2.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on UVSP shares. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $29.00 target price (up previously from $23.00) on shares of Univest Financial in a research report on Friday. Piper Sandler increased their target price on shares of Univest Financial from $20.00 to $24.00 and gave the company a “neutral” rating in a research report on Friday.

About Univest Financial

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.