Univest Corporation of Pennsylvania (NASDAQ:UVSP) Sets New 12-Month High Following Analyst Upgrade

Shares of Univest Corporation of Pennsylvania (NASDAQ:UVSP) reached a new 52-week high on Wednesday after Keefe, Bruyette & Woods raised their price target on the stock from $34.00 to $36.00. Keefe, Bruyette & Woods currently has a market perform rating on the stock. Univest Corporation of Pennsylvania traded as high as $36.00 and last traded at $35.62, with a volume of 35818 shares. The stock had previously closed at $35.30.

A number of other research analysts have also commented on the stock. Zacks Research upgraded shares of Univest Corporation of Pennsylvania to a “hold” rating in a research note on Thursday, December 4th. Weiss Ratings reiterated a “buy (b)” rating on shares of Univest Corporation of Pennsylvania in a research report on Monday, December 29th. Finally, Piper Sandler initiated coverage on shares of Univest Corporation of Pennsylvania in a research report on Wednesday, December 3rd. They issued a “neutral” rating and a $34.00 target price on the stock. One research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $35.00.

Hedge Funds Weigh In On Univest Corporation of Pennsylvania

A number of hedge funds and other institutional investors have recently made changes to their positions in UVSP. BNP Paribas Financial Markets lifted its position in shares of Univest Corporation of Pennsylvania by 1.7% during the 2nd quarter. BNP Paribas Financial Markets now owns 22,354 shares of the financial services provider’s stock worth $672,000 after buying an additional 369 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Univest Corporation of Pennsylvania by 4.3% during the 1st 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. Martingale Asset Management L P increased its holdings in Univest Corporation of Pennsylvania by 0.9% during the 3rd quarter. Martingale Asset Management L P now owns 79,091 shares of the financial services provider’s stock valued at $2,374,000 after purchasing an additional 731 shares in the last quarter. Strs Ohio raised its position in Univest Corporation of Pennsylvania by 3.8% in the 3rd quarter. Strs Ohio now owns 21,800 shares of the financial services provider’s stock valued at $654,000 after purchasing an additional 800 shares during the last quarter. Finally, Savant Capital LLC grew its holdings in shares of Univest Corporation of Pennsylvania by 8.8% during the second quarter. Savant Capital LLC now owns 10,457 shares of the financial services provider’s stock worth $314,000 after purchasing an additional 846 shares during the last quarter. 75.07% of the stock is owned by institutional investors.

Univest Corporation of Pennsylvania Price Performance

The stock has a fifty day moving average of $33.45 and a 200-day moving average of $31.36. The firm has a market capitalization of $1.01 billion, a P/E ratio of 11.34 and a beta of 0.69. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.14.

Univest Corporation of Pennsylvania (NASDAQ:UVSP) last issued its quarterly earnings results on Wednesday, January 28th. The financial services provider reported $0.79 earnings per share for the quarter, beating analysts’ consensus estimates of $0.78 by $0.01. Univest Corporation of Pennsylvania had a net margin of 17.51% and a return on equity of 9.89%. The business had revenue of $84.57 million during the quarter, compared to analyst estimates of $82.54 million. Equities analysts predict that Univest Corporation of Pennsylvania will post 2.36 EPS for the current fiscal year.

Univest Corporation of Pennsylvania Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 25th. Investors of record on Wednesday, February 11th will be given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date is Wednesday, February 11th. Univest Corporation of Pennsylvania’s dividend payout ratio (DPR) is presently 28.03%.

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.