Univest Corporation of Pennsylvania (NASDAQ:UVSP) Releases Quarterly Earnings Results, Beats Estimates By $0.01 EPS

Univest Corporation of Pennsylvania (NASDAQ:UVSP) released its quarterly earnings data on Wednesday. The financial services provider reported $0.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.01, Zacks reports. Univest Corporation of Pennsylvania had a return on equity of 9.55% and a net margin of 16.94%.

Univest Corporation of Pennsylvania Stock Performance

UVSP stock traded down $0.07 during trading hours on Wednesday, hitting $33.42. 147,818 shares of the stock were exchanged, compared to its average volume of 147,190. Univest Corporation of Pennsylvania has a 12 month low of $22.83 and a 12 month high of $35.65. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.14. The company has a 50-day simple moving average of $33.18 and a two-hundred day simple moving average of $31.29. The firm has a market capitalization of $951.80 million, a P/E ratio of 11.14 and a beta of 0.67.

Institutional Trading of Univest Corporation of Pennsylvania

Institutional investors have recently bought and sold shares of the company. Brevan Howard Capital Management LP lifted its stake in Univest Corporation of Pennsylvania by 66.6% in the third quarter. Brevan Howard Capital Management LP now owns 13,974 shares of the financial services provider’s stock worth $419,000 after purchasing an additional 5,584 shares during the last quarter. Occudo Quantitative Strategies LP purchased a new position in shares of Univest Corporation of Pennsylvania in the third quarter worth about $276,000. Natixis Advisors LLC purchased a new stake in Univest Corporation of Pennsylvania during the 3rd quarter valued at about $345,000. Man Group plc purchased a new position in Univest Corporation of Pennsylvania in the 2nd quarter worth approximately $369,000. Finally, First Trust Advisors LP lifted its position in Univest Corporation of Pennsylvania by 5.6% in the second quarter. First Trust Advisors LP now owns 18,703 shares of the financial services provider’s stock valued at $562,000 after purchasing an additional 988 shares during the last quarter. Institutional investors own 75.07% of the company’s stock.

Wall Street Analyst Weigh In

UVSP has been the subject of several research reports. Zacks Research raised Univest Corporation of Pennsylvania to a “hold” rating in a research report on Thursday, December 4th. Weiss Ratings reissued a “buy (b)” rating on shares of Univest Corporation of Pennsylvania in a research note on Monday, December 29th. Keefe, Bruyette & Woods raised their price target on shares of Univest Corporation of Pennsylvania from $33.00 to $34.00 and gave the stock a “market perform” rating in a research note on Friday, October 24th. Finally, Piper Sandler assumed coverage on Univest Corporation of Pennsylvania in a report on Wednesday, December 3rd. They issued a “neutral” rating and a $34.00 target price for the company. One investment analyst has rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, Univest Corporation of Pennsylvania presently has an average rating of “Hold” and a consensus price target of $34.00.

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.