Univest Corporation of Pennsylvania (NASDAQ:UVSP) CFO Sells $85,481.00 in Stock

Univest Corporation of Pennsylvania (NASDAQ:UVSP) CFO Brian Richardson sold 2,090 shares of the firm’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 directly owned 24,228 shares of the company’s stock, valued at $990,925.20. This represents a 7.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Univest Corporation of Pennsylvania Stock Up 0.6%

NASDAQ UVSP opened at $42.02 on Friday. The stock has a fifty day moving average of $38.24 and a 200-day moving average of $35.30. The stock has a market capitalization of $1.17 billion, a P/E ratio of 12.62 and a beta of 0.67. Univest Corporation of Pennsylvania has a 52 week low of $27.91 and a 52 week high of $42.29. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.02 and a current ratio of 1.02.

Univest Corporation of Pennsylvania (NASDAQ:UVSP) last released its earnings results on Wednesday, April 22nd. The financial services provider reported $0.96 EPS for the quarter, beating the consensus estimate of $0.84 by $0.12. The company had revenue of $87.45 million during the quarter, compared to analysts’ expectations of $84.85 million. Univest Corporation of Pennsylvania had a return on equity of 10.19% and a net margin of 18.25%. On average, equities research analysts forecast that Univest Corporation of Pennsylvania will post 3.6 EPS for the current year.

Univest Corporation of Pennsylvania Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 20th. Stockholders of record on Wednesday, May 6th were paid a $0.23 dividend. This is an increase from Univest Corporation of Pennsylvania’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Wednesday, May 6th. This represents a $0.92 annualized dividend and a dividend yield of 2.2%. Univest Corporation of Pennsylvania’s payout ratio is 27.63%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in UVSP. Russell Investments Group Ltd. bought a new position in shares of Univest Corporation of Pennsylvania in the 2nd quarter worth $42,000. Geneos Wealth Management Inc. boosted its position 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 during the last quarter. Osaic Holdings Inc. bought a new position in shares of Univest Corporation of Pennsylvania in the 2nd quarter worth $91,000. Tower Research Capital LLC TRC boosted its position in shares of 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 last quarter. Finally, PNC Financial Services Group Inc. boosted its position in shares of 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 last quarter. 75.07% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on UVSP shares. Keefe, Bruyette & Woods lifted their target price on Univest Corporation of Pennsylvania from $37.00 to $40.00 and gave the company a “market perform” rating in a research note on Friday, April 24th. Weiss Ratings reissued a “buy (b)” rating on shares of Univest Corporation of Pennsylvania in a research note on Friday, March 27th. One investment analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $37.00.

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.