Key Points
- Director Michael Turner sold 8,000 UVSP shares at an average price of $43.03, generating $344,240. Following the sale, his holdings fell 24.48% to 24,684 shares.
- Univest’s latest quarterly results included EPS of $0.82, below the $0.87 consensus estimate, while revenue of $89.59 million exceeded expectations.
- The company declared a quarterly dividend of $0.23 per share, equivalent to $0.92 annually and a 2.1% yield. Analysts maintain a consensus “Buy” rating, with an average price target of $40.50.
Univest Corporation of Pennsylvania (NASDAQ:UVSP - Get Free Report) Director Michael Turner sold 8,000 shares of the company's stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $43.03, for a total transaction of $344,240.00. Following the transaction, the director owned 24,684 shares in the company, valued at $1,062,152.52. This represents a 24.48% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link.
Univest Corporation of Pennsylvania Price Performance
Shares of NASDAQ:UVSP opened at $43.16 on Friday. Univest Corporation of Pennsylvania has a twelve month low of $28.03 and a twelve month high of $45.46. The stock's 50 day moving average is $43.42 and its 200-day moving average is $38.58. 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 firm has a market capitalization of $1.19 billion, a price-to-earnings ratio of 12.47 and a beta of 0.66.
Univest Corporation of Pennsylvania (NASDAQ:UVSP - Get Free Report) last posted 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). The business had revenue of $89.59 million during the quarter, compared to analyst estimates of $86.66 million. Univest Corporation of Pennsylvania had a net margin of 18.86% and a return on equity of 10.41%. Sell-side analysts forecast that Univest Corporation of Pennsylvania will post 3.67 EPS for the current fiscal year.
Univest Corporation of Pennsylvania Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 19th. Shareholders of record on Wednesday, August 5th will be paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend is Wednesday, August 5th. Univest Corporation of Pennsylvania's dividend payout ratio (DPR) is 26.59%.
Hedge Funds Weigh In On Univest Corporation of Pennsylvania
Large investors have recently bought and sold shares of the stock. Russell Investments Group Ltd. purchased a new position in Univest Corporation of Pennsylvania during the 2nd quarter worth $42,000. Geneos Wealth Management Inc. grew its stake in shares of Univest Corporation of Pennsylvania by 545.3% in the 1st 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 in the last quarter. Osaic Holdings Inc. bought a new stake in shares of Univest Corporation of Pennsylvania in the 2nd quarter worth $91,000. Tower Research Capital LLC TRC raised its holdings 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 valued at $97,000 after purchasing an additional 1,324 shares during the last quarter. Finally, Mariner LLC purchased 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 currently owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of research firms recently weighed in on UVSP. Weiss Ratings upgraded shares of Univest Corporation of Pennsylvania from a "buy (b+)" rating to a "buy (a-)" rating in a report on Tuesday, July 28th. Keefe, Bruyette & Woods lifted their price target on Univest Corporation of Pennsylvania from $45.00 to $47.00 and gave the company a "market perform" rating in a research note on Friday, July 24th. Finally, Zacks Research raised Univest Corporation of Pennsylvania from a "hold" rating to a "strong-buy" rating in a report on Tuesday, July 28th. Two research analysts have rated the stock with a Strong Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $40.50.
View Our Latest Report 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.
Featured Articles
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
