Univest Corporation of Pennsylvania (NASDAQ:UVSP) Rating Increased to Strong-Buy at Zacks Research

Univest Corporation of Pennsylvania (NASDAQ:UVSP) was upgraded by analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

Other equities research analysts have also recently issued reports about the company. Weiss Ratings upgraded Univest Corporation of Pennsylvania from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Tuesday. Keefe, Bruyette & Woods upped their price objective on shares of Univest Corporation of Pennsylvania from $45.00 to $47.00 and gave the company a “market perform” rating in a report on Friday, July 24th. Two investment analysts have rated the stock with a Strong Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $40.50.

Univest Corporation of Pennsylvania Stock Down 0.8%

Shares of Univest Corporation of Pennsylvania stock opened at $44.61 on Tuesday. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.10. The company has a market cap of $1.24 billion, a P/E ratio of 12.89 and a beta of 0.66. The firm’s 50 day moving average price is $42.47 and its 200-day moving average price is $37.76. Univest Corporation of Pennsylvania has a 52-week low of $27.91 and a 52-week high of $45.46.

Univest Corporation of Pennsylvania (NASDAQ:UVSP) last released its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $0.82 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.87 by ($0.05). Univest Corporation of Pennsylvania had a return on equity of 10.44% and a net margin of 18.86%.The firm had revenue of $89.59 million during the quarter, compared to analysts’ expectations of $86.66 million. On average, sell-side analysts predict that Univest Corporation of Pennsylvania will post 3.67 EPS for the current fiscal year.

Insider Activity

In other news, CEO Jeffrey M. Schweitzer sold 13,933 shares of the business’s stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $40.91, for a total value of $569,999.03. Following the completion of the sale, the chief executive officer directly owned 110,513 shares in the company, valued at $4,521,086.83. The trade was a 11.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Brian J. Richardson sold 2,090 shares of the company’s stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $40.90, for a total transaction of $85,481.00. Following the transaction, the chief financial officer owned 24,228 shares of the company’s stock, valued at approximately $990,925.20. This trade represents a 7.94% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 23,268 shares of company stock worth $935,934 in the last ninety days. Company insiders own 1.83% of the company’s stock.

Institutional Trading of Univest Corporation of Pennsylvania

Institutional investors have recently made changes to their positions in the company. Russell Investments Group Ltd. acquired a new position in Univest Corporation of Pennsylvania in the 2nd quarter valued at $42,000. Geneos Wealth Management Inc. boosted its stake in Univest Corporation of Pennsylvania by 545.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 2,665 shares of the financial services provider’s stock worth $76,000 after purchasing an additional 2,252 shares during the last quarter. Osaic Holdings Inc. purchased a new stake in shares of Univest Corporation of Pennsylvania during the second quarter worth $91,000. Tower Research Capital LLC TRC grew its holdings in shares of Univest Corporation of Pennsylvania by 69.6% during the second quarter. Tower Research Capital LLC TRC now owns 3,225 shares of the financial services provider’s stock worth $97,000 after buying an additional 1,324 shares in the last quarter. Finally, Mariner LLC acquired a new stake in shares of Univest Corporation of Pennsylvania in the fourth quarter valued at about $211,000. 75.07% of the stock is owned by institutional investors and hedge funds.

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.