Univest Corporation of Pennsylvania (NASDAQ:UVSP) Issues Earnings Results, Misses Estimates By $0.05 EPS

Univest Corporation of Pennsylvania (NASDAQ:UVSP) released its earnings results on Wednesday. The financial services provider reported $0.82 EPS for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.05), Zacks reports. The firm had revenue of $84.35 million for the quarter, compared to the consensus estimate of $86.66 million. Univest Corporation of Pennsylvania had a return on equity of 10.44% and a net margin of 18.86%.

Univest Corporation of Pennsylvania Stock Performance

NASDAQ UVSP traded up $0.56 on Friday, hitting $44.74. 45,575 shares of the company’s stock were exchanged, compared to its average volume of 194,675. The firm has a market cap of $1.25 billion, a price-to-earnings ratio of 12.94 and a beta of 0.66. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.02 and a quick ratio of 1.02. The firm’s 50-day moving average price is $41.98 and its two-hundred day moving average price is $37.43. Univest Corporation of Pennsylvania has a fifty-two week low of $27.91 and a fifty-two week high of $45.46.

Univest Corporation of Pennsylvania Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 19th. Investors of record on Wednesday, August 5th will be given a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 2.1%. The ex-dividend date is Wednesday, August 5th. Univest Corporation of Pennsylvania’s payout ratio is 26.59%.

Insider Activity at Univest Corporation of Pennsylvania

In other Univest Corporation of Pennsylvania news, CFO Brian J. Richardson sold 2,090 shares of the firm’s stock in a transaction on Monday, June 8th. The shares were sold at an average price of $40.90, for a total transaction of $85,481.00. Following the completion of the transaction, the chief financial officer directly owned 24,228 shares of the company’s stock, valued at $990,925.20. This trade represents a 7.94% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Michael S. Keim sold 7,245 shares of the firm’s stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $38.71, for a total value of $280,453.95. Following the transaction, the chief operating officer owned 66,979 shares in the company, valued at $2,592,757.09. This trade represents a 9.76% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 36,268 shares of company stock worth $1,427,334 in the last 90 days. Company insiders own 1.83% of the company’s stock.

Institutional Investors Weigh In On Univest Corporation of Pennsylvania

Several large investors have recently added to or reduced their stakes in UVSP. Russell Investments Group Ltd. bought a new position in shares of Univest Corporation of Pennsylvania in the second quarter valued at approximately $42,000. Geneos Wealth Management Inc. lifted its stake in 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 valued at $76,000 after buying an additional 2,252 shares in the last quarter. Osaic Holdings Inc. acquired a new position in shares of Univest Corporation of Pennsylvania in the second quarter worth about $91,000. Tower Research Capital LLC TRC increased its position in shares of Univest Corporation of Pennsylvania by 69.6% in the second quarter. Tower Research Capital LLC TRC now owns 3,225 shares of the financial services provider’s stock worth $97,000 after acquiring an additional 1,324 shares in the last quarter. Finally, Mariner LLC acquired a new stake in shares of Univest Corporation of Pennsylvania during the fourth quarter valued at approximately $211,000. 75.07% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Keefe, Bruyette & Woods increased 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 note on Friday, April 24th. Weiss Ratings upgraded shares of Univest Corporation of Pennsylvania from a “buy (b)” rating to a “buy (b+)” rating in a report on Wednesday, July 8th. One investment analyst has rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $37.00.

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.