Univest Corporation of Pennsylvania (NASDAQ:UVSP) Reaches New 12-Month High – Here’s Why

Univest Corporation of Pennsylvania (NASDAQ:UVSP) hit a new 52-week high during trading on Tuesday . The company traded as high as $39.85 and last traded at $39.85, with a volume of 4209 shares traded. The stock had previously closed at $39.30.

Analyst Upgrades and Downgrades

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

Univest Corporation of Pennsylvania Stock Up 1.2%

The firm has a 50 day moving average of $36.46 and a two-hundred day moving average of $34.38. The firm has a market capitalization of $1.11 billion, a price-to-earnings ratio of 11.94 and a beta of 0.67. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.10.

Univest Corporation of Pennsylvania (NASDAQ:UVSP) last released its quarterly earnings data on Wednesday, April 22nd. The financial services provider reported $0.96 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.12. The business had revenue of $87.45 million for the quarter, compared to analyst estimates of $84.85 million. Univest Corporation of Pennsylvania had a return on equity of 10.19% and a net margin of 18.25%. As a group, sell-side analysts anticipate that Univest Corporation of Pennsylvania will post 3.6 EPS for the current fiscal year.

Univest Corporation of Pennsylvania Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 20th. Stockholders of record on Wednesday, May 6th were paid a dividend of $0.23 per share. The ex-dividend date of this dividend was Wednesday, May 6th. This is a positive change from Univest Corporation of Pennsylvania’s previous quarterly dividend of $0.22. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.3%. Univest Corporation of Pennsylvania’s payout ratio is 27.63%.

Insider Transactions at Univest Corporation of Pennsylvania

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

Institutional Trading of Univest Corporation of Pennsylvania

Hedge funds have recently made changes to their positions in the company. State of Alaska Department of Revenue acquired a new stake in shares of Univest Corporation of Pennsylvania during the third quarter valued at about $34,000. Russell Investments Group Ltd. acquired a new position in shares of Univest Corporation of Pennsylvania in the second quarter worth approximately $42,000. Geneos Wealth Management Inc. lifted its stake in shares of Univest Corporation of Pennsylvania by 545.3% in the first quarter. Geneos Wealth Management Inc. now owns 2,665 shares of the financial services provider’s stock worth $76,000 after acquiring an additional 2,252 shares during the period. Osaic Holdings Inc. acquired a new position in shares of Univest Corporation of Pennsylvania in the second quarter worth approximately $91,000. Finally, Tower Research Capital LLC TRC lifted its stake 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 during the period. 75.07% of the stock is owned by institutional investors and hedge funds.

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.