Allspring Global Investments Holdings LLC Raises Position in Univest Financial Co. (NASDAQ:UVSP)

Allspring Global Investments Holdings LLC raised its position in shares of Univest Financial Co. (NASDAQ:UVSP) by 27.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,597 shares of the financial services provider’s stock after acquiring an additional 1,194 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Univest Financial were worth $123,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Raymond James & Associates grew its stake in Univest Financial by 7.9% in the third quarter. Raymond James & Associates now owns 26,519 shares of the financial services provider’s stock worth $461,000 after purchasing an additional 1,942 shares during the period. Bailard Inc. bought a new stake in shares of Univest Financial during the 3rd quarter valued at $191,000. Everhart Financial Group Inc. purchased a new stake in shares of Univest Financial in the 3rd quarter worth about $190,000. Strs Ohio increased its stake in shares of Univest Financial by 20.0% in the 3rd quarter. Strs Ohio now owns 34,200 shares of the financial services provider’s stock worth $594,000 after acquiring an additional 5,700 shares in the last quarter. Finally, Watershed Asset Management L.L.C. bought a new position in shares of Univest Financial in the 3rd quarter worth about $240,000. Hedge funds and other institutional investors own 75.07% of the company’s stock.

Univest Financial Stock Up 3.3 %

NASDAQ:UVSP opened at $21.23 on Monday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.06 and a current ratio of 1.06. The firm has a market cap of $626.90 million, a P/E ratio of 8.88 and a beta of 0.89. Univest Financial Co. has a fifty-two week low of $16.10 and a fifty-two week high of $22.49. The firm has a 50-day simple moving average of $19.81 and a two-hundred day simple moving average of $19.69.

Univest Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 22nd. Investors of record on Wednesday, May 8th will be issued a $0.21 dividend. The ex-dividend date of this dividend is Tuesday, May 7th. This represents a $0.84 dividend on an annualized basis and a yield of 3.96%. Univest Financial’s payout ratio is currently 35.15%.

Analyst Ratings Changes

A number of brokerages have weighed in on UVSP. Piper Sandler raised their target price on shares of Univest Financial from $18.00 to $19.00 and gave the company a “neutral” rating in a research note on Thursday, February 1st. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $23.00 price target (up previously from $22.00) on shares of Univest Financial in a research note on Friday.

About Univest Financial

Univest Financial Corporation operates as the bank holding company for Univest Bank and Trust Co that provides banking products and services primarily in the United States. It operates through three segments: Banking, Wealth Management, and Insurance. The Banking segment offers a range of banking services, such as deposit taking, loan origination and servicing, mortgage banking, other general banking, and equipment lease financing services for individuals, businesses, municipalities, and nonprofit organizations.