Zacks Research Upgrades Univest Corporation of Pennsylvania (NASDAQ:UVSP) to Strong-Buy

Univest Corporation of Pennsylvania (NASDAQ:UVSP) was upgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued on Tuesday,Zacks.com reports.

Several other analysts have also recently weighed in on the stock. Keefe, Bruyette & Woods increased 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 research note on Friday, July 24th. Weiss Ratings raised Univest Corporation of Pennsylvania from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Tuesday. Two equities research analysts have rated the stock with a Strong Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $40.50.

Univest Corporation of Pennsylvania Stock Performance

NASDAQ UVSP opened at $44.61 on Tuesday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.02 and a current ratio of 1.02. The stock’s fifty day moving average is $42.47 and its two-hundred day moving average is $37.76. The firm has a market capitalization of $1.24 billion, a P/E ratio of 12.89 and a beta of 0.66. Univest Corporation of Pennsylvania has a fifty-two week low of $27.91 and a fifty-two week high of $45.46.

Univest Corporation of Pennsylvania (NASDAQ:UVSP) last issued its earnings results on Thursday, July 23rd. The financial services provider reported $0.82 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.05). Univest Corporation of Pennsylvania had a return on equity of 10.44% and a net margin of 18.86%.The company had revenue of $89.59 million during the quarter, compared to analyst estimates of $86.66 million. On average, research analysts anticipate that Univest Corporation of Pennsylvania will post 3.67 earnings per share for the current year.

Insider Activity

In related news, CFO Brian J. Richardson sold 2,090 shares of Univest Corporation of Pennsylvania stock in a transaction that occurred 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 completion of the transaction, the chief financial officer owned 24,228 shares in the company, valued at approximately $990,925.20. The trade was a 7.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Michael S. Keim sold 7,245 shares of Univest Corporation of Pennsylvania stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $38.71, for a total value of $280,453.95. Following the completion of the transaction, the chief operating officer owned 66,979 shares of the company’s stock, valued at approximately $2,592,757.09. This trade represents a 9.76% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 23,268 shares of company stock valued at $935,934. 1.83% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Univest Corporation of Pennsylvania

Several institutional investors have recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of 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 buying an additional 703 shares during the last quarter. Empowered Funds LLC raised 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 worth $2,907,000 after acquiring an additional 4,087 shares in the last quarter. Jane Street Group LLC acquired a new position in Univest Corporation of Pennsylvania in the first quarter valued at $1,467,000. Geneos Wealth Management Inc. grew its holdings in shares of 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 purchasing an additional 2,252 shares during the last quarter. Finally, Legal & General Group Plc increased its position in shares of Univest Corporation of Pennsylvania by 8.1% during the second 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 in the last quarter. Hedge funds and other institutional investors own 75.07% of the company’s stock.

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.