Univest Financial (NASDAQ:UVSP) Shares Gap Up to $25.67

Univest Financial Co. (NASDAQ:UVSPGet Rating) shares gapped up prior to trading on Wednesday . The stock had previously closed at $25.67, but opened at $26.39. Univest Financial shares last traded at $25.92, with a volume of 110 shares traded.

A number of equities analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of Univest Financial from a “hold” rating to a “buy” rating and set a $34.00 target price for the company in a research report on Tuesday, February 1st. StockNews.com began coverage on shares of Univest Financial in a research note on Thursday, March 31st. They issued a “hold” rating on the stock.

The stock has a market capitalization of $759.95 million, a PE ratio of 9.54 and a beta of 0.97. The company has a current ratio of 1.00, a quick ratio of 0.99 and a debt-to-equity ratio of 0.13. The company’s 50-day moving average is $26.02 and its 200 day moving average is $28.34.

Univest Financial (NASDAQ:UVSPGet Rating) last posted its quarterly earnings results on Wednesday, April 27th. The financial services provider reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.59 by $0.09. The company had revenue of $67.13 million during the quarter, compared to analyst estimates of $66.57 million. Univest Financial had a net margin of 27.43% and a return on equity of 10.45%. During the same period last year, the firm posted $1.11 EPS. Sell-side analysts forecast that Univest Financial Co. will post 2.63 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 25th. Investors of record on Wednesday, May 11th will be paid a $0.21 dividend. The ex-dividend date of this dividend is Tuesday, May 10th. This represents a $0.84 dividend on an annualized basis and a yield of 3.27%. This is a boost from Univest Financial’s previous quarterly dividend of $0.20. Univest Financial’s dividend payout ratio (DPR) is currently 31.23%.

Institutional investors and hedge funds have recently made changes to their positions in the business. River Oaks Capital LLC purchased a new position in shares of Univest Financial during the 4th quarter worth $1,635,000. The Manufacturers Life Insurance Company grew its position in shares of Univest Financial by 65.6% during the third quarter. The Manufacturers Life Insurance Company now owns 1,284,106 shares of the financial services provider’s stock worth $35,171,000 after buying an additional 508,810 shares in the last quarter. Leeward Investments LLC MA acquired a new position in Univest Financial in the first quarter valued at approximately $13,200,000. Allspring Global Investments Holdings LLC acquired a new position in Univest Financial in the fourth quarter valued at approximately $8,772,000. Finally, Assenagon Asset Management S.A. acquired a new position in Univest Financial in the fourth quarter valued at approximately $2,857,000. 72.15% of the stock is currently owned by institutional investors.

About Univest Financial (NASDAQ:UVSP)

Univest Financial Corporation operates as the bank holding company for Univest Bank and Trust Co that provides banking products and services primarily in Pennsylvania. It operates through three segments: Banking, Wealth Management, and Insurance. The Banking segment provides a range of banking services, such as deposit taking, loan origination and servicing, mortgage banking, other general banking, and equipment lease financing services for individuals, businesses, municipalities, and nonprofit organizations.

Recommended Stories

Receive News & Ratings for Univest Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Univest Financial and related companies with MarketBeat.com's FREE daily email newsletter.