Insider Selling: Univest Corporation of Pennsylvania (NASDAQ:UVSP) Director Sells $344,240.00 in Stock

Univest Corporation of Pennsylvania (NASDAQ:UVSP) Director Michael Turner sold 8,000 shares of Univest Corporation of Pennsylvania stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $43.03, for a total value of $344,240.00. Following the sale, the director owned 24,684 shares in the company, valued at $1,062,152.52. This represents a 24.48% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Univest Corporation of Pennsylvania Stock Performance

Shares of UVSP opened at $43.16 on Monday. The firm has a market cap of $1.19 billion, a price-to-earnings ratio of 12.47 and a beta of 0.66. 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 business’s 50 day moving average is $43.42 and its two-hundred day moving average is $38.62. Univest Corporation of Pennsylvania has a 52-week low of $28.03 and a 52-week high of $45.46.

Univest Corporation of Pennsylvania (NASDAQ:UVSP) last released its quarterly earnings results 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 analyst estimates of $86.66 million. Univest Corporation of Pennsylvania had a return on equity of 10.41% and a net margin of 18.86%. Analysts forecast that Univest Corporation of Pennsylvania will post 3.67 EPS for the current fiscal year.

Univest Corporation of Pennsylvania Dividend Announcement

The business 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 dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date is Wednesday, August 5th. Univest Corporation of Pennsylvania’s dividend payout ratio is 26.59%.

Institutional Investors Weigh In On Univest Corporation of Pennsylvania

A number of hedge funds have recently added to or reduced their stakes in UVSP. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Univest Corporation of Pennsylvania by 4.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,171 shares of the financial services provider’s stock worth $487,000 after acquiring an additional 703 shares during the last quarter. Empowered Funds LLC boosted its stake in Univest Corporation of Pennsylvania by 4.2% during the 1st quarter. Empowered Funds LLC now owns 102,517 shares of the financial services provider’s stock valued at $2,907,000 after purchasing an additional 4,087 shares during the period. Jane Street Group LLC acquired a new position in Univest Corporation of Pennsylvania during the 1st quarter valued at about $1,467,000. Geneos Wealth Management Inc. grew its position in 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 purchasing an additional 2,252 shares during the last quarter. Finally, Legal & General Group Plc grew its position in Univest Corporation of Pennsylvania by 8.1% in the 2nd quarter. Legal & General Group Plc now owns 30,612 shares of the financial services provider’s stock worth $920,000 after purchasing an additional 2,291 shares during the last quarter. 75.07% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently weighed in on UVSP. Weiss Ratings raised shares of Univest Corporation of Pennsylvania from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Tuesday, July 28th. Keefe, Bruyette & Woods lifted their price target on shares of Univest Corporation of Pennsylvania from $45.00 to $47.00 and gave the company a “market perform” rating in a report on Friday, July 24th. Finally, Zacks Research raised shares of Univest Corporation of Pennsylvania from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 28th. Two analysts have rated the stock with a Strong Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $40.50.

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.