Key Points
- COO Michael Keim sold 7,245 shares for $280,453.95, reducing his stake by 9.76% to 66,979 shares valued at about $2.59 million.
- Univest raised its quarterly dividend to $0.23 (from $0.22), with an ex-dividend date of May 6, an annualized payout of $0.92 and a yield of 2.4% (DPR 27.63%).
- Q1 results topped expectations as Univest reported $0.96 EPS versus a $0.84 consensus and revenue of $87.45 million versus $84.85 million, while analysts expect roughly 3.6 EPS for the fiscal year.
Univest Corporation of Pennsylvania (NASDAQ:UVSP - Get Free Report) COO Michael 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 transaction of $280,453.95. Following the transaction, the chief operating officer directly owned 66,979 shares of the company's stock, valued at approximately $2,592,757.09. This represents a 9.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Univest Corporation of Pennsylvania Price Performance
UVSP opened at $38.58 on Friday. The company has a market capitalization of $1.07 billion, a P/E ratio of 11.58 and a beta of 0.67. The company has a 50-day moving average of $35.31 and a 200-day moving average of $33.64. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.02 and a current ratio of 1.02. Univest Corporation of Pennsylvania has a 1-year low of $27.91 and a 1-year high of $39.06.
Univest Corporation of Pennsylvania (NASDAQ:UVSP - Get Free Report) last issued its quarterly earnings results on Wednesday, April 22nd. The financial services provider reported $0.96 EPS for the quarter, topping the consensus estimate of $0.84 by $0.12. The business had revenue of $87.45 million for the quarter, compared to analysts' expectations of $84.85 million. Univest Corporation of Pennsylvania had a net margin of 18.25% and a return on equity of 10.19%. Equities analysts expect 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 announced a quarterly dividend, which will be paid on Wednesday, May 20th. Shareholders of record on Wednesday, May 6th will be issued a dividend of $0.23 per share. The ex-dividend date of this dividend is Wednesday, May 6th. This represents a $0.92 dividend on an annualized basis and a yield of 2.4%. This is a boost from Univest Corporation of Pennsylvania's previous quarterly dividend of $0.22. Univest Corporation of Pennsylvania's dividend payout ratio (DPR) is 27.63%.
Institutional Investors Weigh In On Univest Corporation of Pennsylvania
Hedge funds have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP increased its holdings in shares of Univest Corporation of Pennsylvania by 0.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,886,235 shares of the financial services provider's stock worth $64,622,000 after acquiring an additional 6,965 shares during the period. Principal Financial Group Inc. bought a new stake in Univest Corporation of Pennsylvania in the 1st quarter valued at about $1,246,000. Fifth Third Bancorp acquired a new position in Univest Corporation of Pennsylvania during the 1st quarter valued at about $260,000. Hsbc Holdings PLC grew its position in Univest Corporation of Pennsylvania by 57.6% in the 1st quarter. Hsbc Holdings PLC now owns 23,334 shares of the financial services provider's stock worth $799,000 after purchasing an additional 8,527 shares during the last quarter. Finally, Strs Ohio grew its position in Univest Corporation of Pennsylvania by 3.0% in the 1st quarter. Strs Ohio now owns 20,600 shares of the financial services provider's stock worth $706,000 after purchasing an additional 600 shares during the last quarter. 75.07% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
A number of equities research analysts have recently weighed in on the company. Weiss Ratings reiterated a "buy (b)" rating on shares of Univest Corporation of Pennsylvania in a report on Friday, March 27th. Keefe, Bruyette & Woods lifted their price objective on shares of Univest Corporation of Pennsylvania from $37.00 to $40.00 and gave the stock a "market perform" rating in a report on Friday, April 24th. One research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $37.00.
View Our Latest Stock Analysis on Univest Corporation of Pennsylvania
Univest Corporation of Pennsylvania Company Profile
(
Get Free Report)
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.
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