Univest Corporation of Pennsylvania (NASDAQ:UVSP) Sets New 12-Month High – Still a Buy?

Univest Corporation of Pennsylvania (NASDAQ:UVSP) shares hit a new 52-week high during trading on Wednesday . The stock traded as high as $43.65 and last traded at $43.2590, with a volume of 12480 shares trading hands. The stock had previously closed at $42.89.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on UVSP shares. Weiss Ratings reissued a “buy (b)” rating on shares of Univest Corporation of Pennsylvania in a research report on Friday, March 27th. Keefe, Bruyette & Woods increased their price objective on shares of Univest Corporation of Pennsylvania from $37.00 to $40.00 and gave the company a “market perform” rating in a research report on Friday, April 24th. One equities research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $37.00.

Univest Corporation of Pennsylvania Stock Performance

The business has a 50-day moving average of $39.46 and a 200 day moving average of $35.99. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.02 and a quick ratio of 1.02. The company has a market cap of $1.21 billion, a PE ratio of 13.06 and a beta of 0.67.

Univest Corporation of Pennsylvania (NASDAQ:UVSP) last announced its earnings results on Wednesday, April 22nd. The financial services provider reported $0.96 earnings per share (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 return on equity of 10.19% and a net margin of 18.25%. Equities research analysts anticipate that Univest Corporation of Pennsylvania will post 3.6 EPS for the current fiscal year.

Univest Corporation of Pennsylvania Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 20th. Investors of record on Wednesday, May 6th were issued a $0.23 dividend. 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 2.1%. Univest Corporation of Pennsylvania’s payout ratio is 27.63%.

Insider Buying and Selling at Univest Corporation of Pennsylvania

In other Univest Corporation of Pennsylvania news, Director Natalye Paquin sold 13,000 shares of the stock in a transaction that occurred on Monday, April 27th. The shares were sold at an average price of $37.80, for a total value of $491,400.00. Following the transaction, the director directly owned 17,004 shares in the company, valued at approximately $642,751.20. This trade represents a 43.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jeffrey M. Schweitzer sold 13,933 shares of the business’s stock in a transaction on Monday, June 8th. The shares were sold at an average price of $40.91, for a total transaction of $569,999.03. Following the sale, the chief executive officer directly owned 110,513 shares of the company’s stock, valued at approximately $4,521,086.83. The trade was a 11.20% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 36,268 shares of company stock valued at $1,427,334 in the last ninety days. Corporate insiders own 1.83% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in UVSP. Assenagon Asset Management S.A. purchased a new stake in Univest Corporation of Pennsylvania in the 1st quarter worth approximately $8,819,000. The Manufacturers Life Insurance Company boosted its position in shares of Univest Corporation of Pennsylvania by 15.1% in the second quarter. The Manufacturers Life Insurance Company now owns 1,475,872 shares of the financial services provider’s stock worth $44,335,000 after purchasing an additional 193,561 shares during the period. UNIVEST FINANCIAL Corp increased its stake in shares of Univest Corporation of Pennsylvania by 22.2% in the fourth quarter. UNIVEST FINANCIAL Corp now owns 617,526 shares of the financial services provider’s stock worth $20,218,000 after purchasing an additional 112,203 shares in the last quarter. Goldman Sachs Group Inc. raised its position in shares of Univest Corporation of Pennsylvania by 38.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 379,679 shares of the financial services provider’s stock valued at $12,431,000 after purchasing an additional 104,516 shares during the period. Finally, SG Americas Securities LLC lifted its stake in shares of Univest Corporation of Pennsylvania by 359.9% during the 1st quarter. SG Americas Securities LLC now owns 99,155 shares of the financial services provider’s stock valued at $3,397,000 after buying an additional 77,594 shares in the last quarter. 75.07% of the stock is owned by hedge funds and other institutional investors.

Univest Corporation of Pennsylvania Company Profile

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.