Univest Corporation of Pennsylvania (NASDAQ:UVSP) Issues Quarterly Earnings Results

Univest Corporation of Pennsylvania (NASDAQ:UVSP) posted its quarterly earnings results on Wednesday. The financial services provider reported $0.79 EPS for the quarter, topping the consensus estimate of $0.78 by $0.01, Zacks reports. Univest Corporation of Pennsylvania had a net margin of 17.51% and a return on equity of 9.89%. The business had revenue of $84.57 million during the quarter, compared to the consensus estimate of $82.54 million.

Univest Corporation of Pennsylvania Stock Down 2.1%

UVSP opened at $32.72 on Friday. The stock has a market capitalization of $931.73 million, a P/E ratio of 10.42 and a beta of 0.67. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.02 and a current ratio of 1.02. Univest Corporation of Pennsylvania has a one year low of $22.83 and a one year high of $35.65. The business’s 50-day simple moving average is $33.29 and its 200-day simple moving average is $31.31.

Univest Corporation of Pennsylvania Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 25th. Shareholders of record on Wednesday, February 11th will be paid a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 2.7%. The ex-dividend date is Wednesday, February 11th. Univest Corporation of Pennsylvania’s dividend payout ratio is currently 28.03%.

Wall Street Analysts Forecast Growth

UVSP has been the subject of a number of recent research reports. Keefe, Bruyette & Woods lifted their target price on 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. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Univest Corporation of Pennsylvania in a research report on Monday, December 29th. Zacks Research raised Univest Corporation of Pennsylvania to a “hold” rating in a research report on Thursday, December 4th. Finally, Piper Sandler assumed coverage on shares of Univest Corporation of Pennsylvania in a research note on Wednesday, December 3rd. They set a “neutral” rating and a $34.00 target price on the stock. One research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, Univest Corporation of Pennsylvania has a consensus rating of “Hold” and an average target price of $34.00.

Hedge Funds Weigh In On Univest Corporation of Pennsylvania

A number of hedge funds have recently modified their holdings of the business. Polymer Capital Management US LLC boosted its stake in Univest Corporation of Pennsylvania by 24.1% during the 3rd quarter. Polymer Capital Management US LLC now owns 9,659 shares of the financial services provider’s stock worth $290,000 after purchasing an additional 1,876 shares during the period. Qube Research & Technologies Ltd purchased a new position in shares of Univest Corporation of Pennsylvania during the third quarter worth about $927,000. Mercer Global Advisors Inc. ADV purchased a new position in shares of Univest Corporation of Pennsylvania during the third quarter worth about $218,000. Millennium Management LLC increased its position in Univest Corporation of Pennsylvania by 27.8% in the 3rd quarter. Millennium Management LLC now owns 170,857 shares of the financial services provider’s stock valued at $5,129,000 after acquiring an additional 37,194 shares during the period. Finally, Brevan Howard Capital Management LP raised its stake in Univest Corporation of Pennsylvania by 66.6% during the 3rd quarter. Brevan Howard Capital Management LP now owns 13,974 shares of the financial services provider’s stock valued at $419,000 after acquiring an additional 5,584 shares during the last quarter. 75.07% of the stock is currently owned by hedge funds and other institutional investors.

Univest Corporation of Pennsylvania Company Profile

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.