Univest Corporation of Pennsylvania (NASDAQ:UVSP) Shares Cross Above 200 Day Moving Average – Here’s Why

Univest Corporation of Pennsylvania (NASDAQ:UVSP)’s stock price crossed above its two hundred day moving average during trading on Tuesday. The stock has a two hundred day moving average of $40.05 and traded as high as $42.50. Univest Corporation of Pennsylvania shares last traded at $41.84, with a volume of 194,838 shares trading hands.

Analyst Ratings Changes

UVSP has been the subject of a number of analyst reports. Weiss Ratings upgraded Univest Corporation of Pennsylvania from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Tuesday, July 28th. Keefe, Bruyette & Woods increased their target price on Univest Corporation of Pennsylvania from $45.00 to $47.00 and gave the stock a “market perform” rating in a research report on Friday, July 24th. Finally, Zacks Research raised shares of Univest Corporation of Pennsylvania from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 28th. Two equities research analysts have rated the stock with a Strong Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $40.50.

Univest Corporation of Pennsylvania Stock Up 0.9%

The firm has a 50 day simple moving average of $42.91 and a two-hundred day simple moving average of $40.11. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.02 and a current ratio of 1.02. The stock has a market cap of $1.15 billion, a P/E ratio of 12.08 and a beta of 0.65.

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 10.41% and a net margin of 18.86%.The business had revenue of $89.59 million during the quarter, compared to the consensus estimate of $86.66 million. Equities research analysts predict that Univest Corporation of Pennsylvania will post 3.67 earnings per share for the current year.

Univest Corporation of Pennsylvania Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 19th. Shareholders of record on Wednesday, August 5th were given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date was Wednesday, August 5th. Univest Corporation of Pennsylvania’s dividend payout ratio is 26.59%.

Insider Buying and Selling at Univest Corporation of Pennsylvania

In related news, Director Michael Turner sold 8,000 shares of the firm’s stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $43.03, for a total transaction of $344,240.00. Following the completion of the transaction, the director owned 24,684 shares of the company’s stock, valued at $1,062,152.52. This trade represents a 24.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.83% of the stock is currently owned by company insiders.

Institutional Trading of Univest Corporation of Pennsylvania

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Bank of America Corp DE boosted its holdings in shares of Univest Corporation of Pennsylvania by 18.1% in the first quarter. Bank of America Corp DE now owns 225,853 shares of the financial services provider’s stock worth $7,738,000 after buying an additional 34,557 shares during the period. SG Americas Securities LLC raised its holdings in shares of Univest Corporation of Pennsylvania by 359.9% during the first quarter. SG Americas Securities LLC now owns 99,155 shares of the financial services provider’s stock valued at $3,397,000 after acquiring an additional 77,594 shares during the period. Principal Financial Group Inc. purchased a new stake in shares of Univest Corporation of Pennsylvania in the 1st quarter valued at approximately $1,246,000. Assenagon Asset Management S.A. lifted its position in shares of Univest Corporation of Pennsylvania by 39.2% in the 2nd quarter. Assenagon Asset Management S.A. now owns 358,183 shares of the financial services provider’s stock valued at $15,671,000 after acquiring an additional 100,780 shares in the last quarter. Finally, Sei Investments Co. boosted its stake in Univest Corporation of Pennsylvania by 12.1% in the 1st quarter. Sei Investments Co. now owns 271,772 shares of the financial services provider’s stock worth $9,311,000 after purchasing an additional 29,247 shares during the period. Institutional investors and hedge funds own 75.07% of the company’s stock.

About Univest Corporation of Pennsylvania

Univest Corporation of Pennsylvania is a financial services holding company headquartered in Souderton, Pennsylvania. Through its principal subsidiary, Univest Bank and Trust Co, the company provides banking and related financial services to individuals, businesses, municipalities and nonprofit organizations.

Univest’s banking products and services include checking and savings accounts, consumer and commercial loans, mortgages, cash-management solutions, online and mobile banking, and treasury-management services.