Zacks Research Upgrades Univest Corporation of Pennsylvania (NASDAQ:UVSP) to Strong-Buy

Univest Corporation of Pennsylvania (NASDAQ:UVSP) was upgraded by stock analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a note issued to investors on Tuesday,Zacks.com reports.

UVSP has been the subject of several other reports. Weiss Ratings upgraded Univest Corporation of Pennsylvania from a “buy (b+)” rating to a “buy (a-)” rating in a report on Tuesday. Keefe, Bruyette & Woods lifted their target price on shares of Univest Corporation of Pennsylvania from $45.00 to $47.00 and gave the stock a “market perform” rating in a report on Friday, July 24th. Two equities research analysts have rated the stock with a Strong Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $40.50.

Univest Corporation of Pennsylvania Price Performance

Shares of NASDAQ UVSP opened at $44.61 on Tuesday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.02 and a current ratio of 1.02. The company has a 50 day simple moving average of $42.47 and a two-hundred day simple moving average of $37.76. Univest Corporation of Pennsylvania has a fifty-two week low of $27.91 and a fifty-two week high of $45.46. The company has a market capitalization of $1.24 billion, a price-to-earnings ratio of 12.89 and a beta of 0.66.

Univest Corporation of Pennsylvania (NASDAQ:UVSP) last posted its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $0.82 earnings per share for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.05). The company had revenue of $89.59 million for the quarter, compared to the consensus estimate of $86.66 million. Univest Corporation of Pennsylvania had a net margin of 18.86% and a return on equity of 10.44%. Analysts expect that Univest Corporation of Pennsylvania will post 3.67 EPS for the current fiscal year.

Insider Activity

In other news, COO Michael S. Keim sold 7,245 shares of Univest Corporation of Pennsylvania stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $38.71, for a total value of $280,453.95. Following the completion of 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. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Brian J. Richardson sold 2,090 shares of the business’s stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $40.90, for a total transaction of $85,481.00. Following the transaction, the chief financial officer directly owned 24,228 shares of the company’s stock, valued at $990,925.20. The trade was a 7.94% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 23,268 shares of company stock valued at $935,934 in the last 90 days. 1.83% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Univest Corporation of Pennsylvania

Several hedge funds and other institutional investors have recently modified their holdings of the company. Russell Investments Group Ltd. bought a new stake in shares of Univest Corporation of Pennsylvania in the second quarter worth $42,000. Geneos Wealth Management Inc. boosted its position in 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 purchasing an additional 2,252 shares during the last quarter. Osaic Holdings Inc. purchased a new stake in Univest Corporation of Pennsylvania during the second quarter valued at approximately $91,000. Tower Research Capital LLC TRC raised its position in 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. Finally, Mariner LLC purchased a new position in shares of Univest Corporation of Pennsylvania during the 4th quarter worth $211,000. 75.07% of the stock is owned by institutional investors.

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.