Pzena Investment Management LLC Trims Stake in Univest Corporation of Pennsylvania $UVSP

Pzena Investment Management LLC cut its holdings in Univest Corporation of Pennsylvania (NASDAQ:UVSP) by 1.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 842,425 shares of the financial services provider’s stock after selling 13,810 shares during the period. Pzena Investment Management LLC’s holdings in Univest Corporation of Pennsylvania were worth $28,861,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Russell Investments Group Ltd. purchased a new position in shares of Univest Corporation of Pennsylvania during the 2nd quarter worth $42,000. Geneos Wealth Management Inc. increased its stake in shares of 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 in the last quarter. Osaic Holdings Inc. purchased a new stake in shares of Univest Corporation of Pennsylvania in the 2nd quarter worth $91,000. Tower Research Capital LLC TRC raised its holdings in Univest Corporation of Pennsylvania by 69.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,225 shares of the financial services provider’s stock worth $97,000 after purchasing an additional 1,324 shares during the period. Finally, PNC Financial Services Group Inc. raised its holdings in Univest Corporation of Pennsylvania by 18.1% in the 3rd quarter. PNC Financial Services Group Inc. now owns 6,774 shares of the financial services provider’s stock worth $203,000 after purchasing an additional 1,040 shares during the period. Hedge funds and other institutional investors own 75.07% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on UVSP shares. Weiss Ratings reissued a “buy (b)” rating on shares of Univest Corporation of Pennsylvania in a report on Wednesday, June 24th. Keefe, Bruyette & Woods raised their price objective on Univest Corporation of Pennsylvania from $37.00 to $40.00 and gave the stock a “market perform” rating in a research note on Friday, April 24th. One investment analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $37.00.

Univest Corporation of Pennsylvania Stock Performance

Shares of NASDAQ UVSP opened at $45.15 on Thursday. The stock has a market cap of $1.26 billion, a PE ratio of 13.56 and a beta of 0.66. Univest Corporation of Pennsylvania has a 1 year low of $27.91 and a 1 year high of $45.15. The firm has a fifty day moving average price of $40.05 and a 200-day moving average price of $36.27. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.02 and a quick ratio of 1.02.

Univest Corporation of Pennsylvania (NASDAQ:UVSP) last issued its earnings results on Wednesday, April 22nd. The financial services provider reported $0.96 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.12. Univest Corporation of Pennsylvania had a net margin of 18.25% and a return on equity of 10.19%. The company had revenue of $87.45 million during the quarter, compared to the consensus estimate of $84.85 million. Equities analysts anticipate that Univest Corporation of Pennsylvania will post 3.6 earnings per share for the current fiscal year.

Univest Corporation of Pennsylvania Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 20th. Stockholders of record on Wednesday, May 6th were given a $0.23 dividend. The ex-dividend date was Wednesday, May 6th. This is a positive change from Univest Corporation of Pennsylvania’s previous quarterly dividend of $0.22. This represents a $0.92 annualized dividend and a dividend yield of 2.0%. Univest Corporation of Pennsylvania’s dividend payout ratio (DPR) is presently 27.63%.

Insiders Place Their Bets

In other Univest Corporation of Pennsylvania news, CFO Brian J. Richardson sold 2,090 shares of the business’s stock in a transaction on Monday, June 8th. The shares were sold at an average price of $40.90, for a total value of $85,481.00. Following the sale, the chief financial officer owned 24,228 shares in the company, valued at $990,925.20. The trade was a 7.94% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Natalye Paquin sold 13,000 shares of the stock in a transaction that occurred on Monday, April 27th. The shares were sold at an average price of $37.80, for a total value of $491,400.00. Following the transaction, the director directly owned 17,004 shares of the company’s stock, valued at approximately $642,751.20. The trade was a 43.33% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 36,268 shares of company stock worth $1,427,334. 1.83% of the stock is currently owned by insiders.

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.