Univest Financial Corp (NASDAQ:UVSP) Sees Large Increase in Short Interest

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Univest Financial Corp (NASDAQ:UVSP) was the target of a significant increase in short interest in the month of September. As of September 30th, there was short interest totalling 324,100 shares, an increase of 18.8% from the August 30th total of 272,800 shares. Approximately 1.1% of the company’s shares are short sold. Based on an average trading volume of 92,800 shares, the days-to-cover ratio is currently 3.5 days.

UVSP stock traded down $0.17 during trading on Monday, hitting $24.53. The company had a trading volume of 3,029 shares, compared to its average volume of 83,499. The firm has a market capitalization of $717.40 million, a P/E ratio of 12.14 and a beta of 0.80. Univest Financial has a 52-week low of $20.18 and a 52-week high of $27.80. The company has a 50 day simple moving average of $25.39 and a 200-day simple moving average of $25.40. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.20.

Univest Financial (NASDAQ:UVSP) last posted its quarterly earnings results on Wednesday, July 24th. The financial services provider reported $0.56 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.55 by $0.01. The company had revenue of $58.99 million for the quarter, compared to the consensus estimate of $58.10 million. Univest Financial had a net margin of 24.51% and a return on equity of 10.19%.

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Tuesday, September 10th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 3.26%. The ex-dividend date of this dividend was Monday, September 9th. Univest Financial’s dividend payout ratio is presently 39.60%.

A number of hedge funds have recently bought and sold shares of UVSP. Stone Ridge Asset Management LLC purchased a new position in Univest Financial during the 2nd quarter valued at about $257,000. Bank of Montreal Can increased its position in Univest Financial by 468.6% during the 2nd quarter. Bank of Montreal Can now owns 52,159 shares of the financial services provider’s stock valued at $1,370,000 after purchasing an additional 42,986 shares during the period. Acadian Asset Management LLC increased its position in Univest Financial by 62.1% during the 2nd quarter. Acadian Asset Management LLC now owns 90,956 shares of the financial services provider’s stock valued at $2,389,000 after purchasing an additional 34,832 shares during the period. Wells Fargo & Company MN increased its position in Univest Financial by 75.8% during the 2nd quarter. Wells Fargo & Company MN now owns 446,826 shares of the financial services provider’s stock valued at $11,733,000 after purchasing an additional 192,707 shares during the period. Finally, Impax Asset Management Group plc purchased a new position in Univest Financial during the 2nd quarter valued at about $3,071,000. 67.66% of the stock is currently owned by institutional investors.

Several equities research analysts have recently weighed in on UVSP shares. Zacks Investment Research raised shares of Univest Financial from a “sell” rating to a “hold” rating in a research note on Wednesday, August 21st. ValuEngine raised shares of Univest Financial from a “sell” rating to a “hold” rating in a research note on Thursday. Finally, BidaskClub downgraded shares of Univest Financial from a “hold” rating to a “sell” rating in a research note on Thursday, September 5th.

About Univest Financial

Univest Corporation of Pennsylvania offers banking products and services. The bank offers demand deposits and interest and non-interest bearing time and savings deposits. It's deposits include jumbo deposits and retail time deposits. It provides commercial and industrial loans, consumer loans, commercial real estate loans, and other loans and leases.

See Also: Bull Market

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