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

Univest Financial (NASDAQ:UVSP) announced its quarterly earnings data 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. Univest Financial had a net margin of 14.91% and a return on equity of 8.29%. The business had revenue of $120.81 million for the quarter, compared to analysts’ expectations of $72.50 million. During the same period last year, the firm posted $0.61 earnings per share.

Univest Financial Trading Up 3.6 %

Shares of UVSP stock opened at $29.18 on Friday. The stock has a 50-day moving average of $23.03 and a 200-day moving average of $21.33. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.18. The stock has a market cap of $854.10 million, a price-to-earnings ratio of 12.21 and a beta of 0.86. Univest Financial has a 1-year low of $16.10 and a 1-year high of $29.49.

Univest Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 21st. Investors 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 yield of 2.88%. Univest Financial’s dividend payout ratio is presently 35.15%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on UVSP shares. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $29.00 price objective (up from $23.00) on shares of Univest Financial in a research note on Friday. Piper Sandler upped their price objective on shares of Univest Financial from $20.00 to $24.00 and gave the stock a “neutral” rating in a research report on Friday.

Insider Activity at Univest Financial

In other news, CEO Jeffrey M. Schweitzer sold 9,000 shares of the company’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $22.55, for a total value of $202,950.00. Following the sale, the chief executive officer now directly owns 90,187 shares of the company’s stock, valued at approximately $2,033,716.85. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 2.10% of the stock is currently owned by company insiders.

Univest Financial Company Profile

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.