Univest Corporation of Pennsylvania (NASDAQ:UVSP) CFO Sells $85,481.00 in Stock

Univest Corporation of Pennsylvania (NASDAQ:UVSP) CFO Brian Richardson sold 2,090 shares of the company’s stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $40.90, for a total value of $85,481.00. Following the transaction, the chief financial officer owned 24,228 shares of the company’s stock, valued at approximately $990,925.20. This trade represents a 7.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Univest Corporation of Pennsylvania Stock Performance

Shares of UVSP stock traded up $0.52 during trading hours on Tuesday, reaching $41.45. 72,901 shares of the company’s stock were exchanged, compared to its average volume of 179,886. Univest Corporation of Pennsylvania has a fifty-two week low of $27.91 and a fifty-two week high of $41.77. The stock has a market capitalization of $1.15 billion, a P/E ratio of 12.45 and a beta of 0.67. The business has a fifty day moving average price of $37.77 and a 200-day moving average price of $35.06. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.10.

Univest Corporation of Pennsylvania (NASDAQ:UVSP) last issued its quarterly earnings results on Wednesday, April 22nd. The financial services provider reported $0.96 EPS for the quarter, topping analysts’ consensus estimates of $0.84 by $0.12. Univest Corporation of Pennsylvania had a return on equity of 10.19% and a net margin of 18.25%.The company had revenue of $87.45 million during the quarter, compared to analyst estimates of $84.85 million. Analysts predict 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 declared a quarterly dividend, which was paid on Wednesday, May 20th. Stockholders of record on Wednesday, May 6th were issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.2%. This is a boost from Univest Corporation of Pennsylvania’s previous quarterly dividend of $0.22. The ex-dividend date was Wednesday, May 6th. Univest Corporation of Pennsylvania’s dividend payout ratio is presently 27.63%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Russell Investments Group Ltd. acquired a new position in Univest Corporation of Pennsylvania during the second quarter worth $42,000. Geneos Wealth Management Inc. raised its stake in Univest Corporation of Pennsylvania by 545.3% during the first 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. acquired a new position in Univest Corporation of Pennsylvania during the second quarter worth $91,000. Tower Research Capital LLC TRC raised its stake in Univest Corporation of Pennsylvania by 69.6% during 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 in the last quarter. Finally, PNC Financial Services Group Inc. raised its stake in Univest Corporation of Pennsylvania by 18.1% during the third quarter. PNC Financial Services Group Inc. now owns 6,774 shares of the financial services provider’s stock worth $203,000 after acquiring an additional 1,040 shares in the last quarter. 75.07% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently commented on UVSP. Keefe, Bruyette & Woods upped their price target on 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. Weiss Ratings restated a “buy (b)” rating on shares of Univest Corporation of Pennsylvania in a research note on Friday, March 27th. One analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $37.00.

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.