Univest Corporation of Pennsylvania (NASDAQ:UVSP) Hits New 12-Month High – Here’s What Happened

Univest Corporation of Pennsylvania (NASDAQ:UVSP) reached a new 52-week high during trading on Wednesday . The company traded as high as $39.12 and last traded at $39.0780, with a volume of 54515 shares trading hands. The stock had previously closed at $38.42.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Keefe, Bruyette & Woods upped their price target on Univest Corporation of Pennsylvania from $37.00 to $40.00 and gave the company a “market perform” rating in a research report on Friday, April 24th. Weiss Ratings reiterated a “buy (b)” rating on shares of Univest Corporation of Pennsylvania in a research report on Friday, March 27th. One research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $37.00.

Univest Corporation of Pennsylvania Trading Up 1.0%

The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.10. The firm has a 50-day moving average of $35.97 and a 200 day moving average of $34.11. The company has a market cap of $1.08 billion, a P/E ratio of 11.65 and a beta of 0.67.

Univest Corporation of Pennsylvania (NASDAQ:UVSP) last announced its earnings results on Wednesday, April 22nd. The financial services provider reported $0.96 EPS for the quarter, beating the consensus estimate 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 company had revenue of $87.45 million for the quarter, compared to analyst estimates of $84.85 million. On average, analysts predict that Univest Corporation of Pennsylvania will post 3.6 earnings per share for the current fiscal year.

Univest Corporation of Pennsylvania Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 20th. Investors of record on Wednesday, May 6th will be given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 2.4%. The ex-dividend date is Wednesday, May 6th. This is a positive change from Univest Corporation of Pennsylvania’s previous quarterly dividend of $0.22. Univest Corporation of Pennsylvania’s dividend payout ratio is currently 27.63%.

Insider Activity

In related news, COO Michael S. Keim sold 7,245 shares of the company’s stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $38.71, for a total transaction of $280,453.95. Following the sale, the chief operating officer owned 66,979 shares in the company, valued at $2,592,757.09. This represents a 9.76% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Natalye Paquin sold 13,000 shares of the company’s stock in a transaction dated Monday, April 27th. The shares were sold at an average price of $37.80, for a total value of $491,400.00. Following the sale, the director owned 17,004 shares in the company, valued at approximately $642,751.20. The trade was a 43.33% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 1.83% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Univest Corporation of Pennsylvania

Several institutional investors and hedge funds have recently made changes to their positions in UVSP. Y Intercept Hong Kong Ltd bought a new position in Univest Corporation of Pennsylvania in the third quarter worth approximately $1,004,000. 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 worth $20,218,000 after acquiring an additional 112,203 shares in the last quarter. SG Americas Securities LLC bought a new position in Univest Corporation of Pennsylvania in the third quarter worth approximately $675,000. Hussman Strategic Advisors Inc. bought a new position in Univest Corporation of Pennsylvania in the fourth quarter worth approximately $688,000. Finally, Strs Ohio boosted its holdings in Univest Corporation of Pennsylvania by 3.8% in the third quarter. Strs Ohio now owns 21,800 shares of the financial services provider’s stock worth $654,000 after acquiring an additional 800 shares in the last quarter. Institutional investors own 75.07% of the company’s stock.

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.