Univest Corporation of Pennsylvania (NASDAQ:UVSP) Stock Crosses Above 200-Day Moving Average – Here’s Why

Univest Corporation of Pennsylvania (NASDAQ:UVSP) passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $31.21 and traded as high as $33.60. Univest Corporation of Pennsylvania shares last traded at $33.51, with a volume of 133,487 shares changing hands.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Keefe, Bruyette & Woods increased their price objective on shares of Univest Corporation of Pennsylvania from $33.00 to $34.00 and gave the stock a “market perform” rating in a research report on Friday, October 24th. Piper Sandler began coverage on shares of Univest Corporation of Pennsylvania in a research report on Wednesday, December 3rd. They set a “neutral” rating and a $34.00 price target for the company. Weiss Ratings reissued a “buy (b)” rating on shares of Univest Corporation of Pennsylvania in a research report on Monday, December 29th. Finally, Zacks Research upgraded Univest Corporation of Pennsylvania to a “hold” rating in a research note on Thursday, December 4th. One analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $33.00.

Univest Corporation of Pennsylvania Stock Down 0.1%

The firm has a fifty day simple moving average of $32.72 and a 200-day simple moving average of $31.21. The company has a market capitalization of $954.36 million, a PE ratio of 11.17 and a beta of 0.67. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.02 and a current ratio of 1.02.

Univest Corporation of Pennsylvania (NASDAQ:UVSP) last released its quarterly earnings results on Thursday, October 23rd. The financial services provider reported $0.89 earnings per share for the quarter, topping analysts’ consensus estimates of $0.76 by $0.13. The business had revenue of $26.25 million during the quarter, compared to the consensus estimate of $81.75 million. Univest Corporation of Pennsylvania had a net margin of 16.94% and a return on equity of 9.55%. Equities research analysts anticipate that Univest Corporation of Pennsylvania will post 2.36 EPS for the current fiscal year.

Univest Corporation of Pennsylvania Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 19th. Shareholders of record on Wednesday, November 5th were issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend was Wednesday, November 5th. Univest Corporation of Pennsylvania’s dividend payout ratio (DPR) is currently 29.33%.

Hedge Funds Weigh In On Univest Corporation of Pennsylvania

Several large investors have recently modified their holdings of UVSP. Geode Capital Management LLC increased its stake in Univest Corporation of Pennsylvania by 5.0% during the second quarter. Geode Capital Management LLC now owns 773,731 shares of the financial services provider’s stock valued at $23,243,000 after purchasing an additional 36,662 shares during the last quarter. Creative Planning boosted its holdings in shares of Univest Corporation of Pennsylvania by 24.4% in the 2nd quarter. Creative Planning now owns 71,105 shares of the financial services provider’s stock valued at $2,136,000 after buying an additional 13,939 shares during the period. Assenagon Asset Management S.A. bought a new stake in shares of Univest Corporation of Pennsylvania during the 3rd quarter valued at about $908,000. Arrowstreet Capital Limited Partnership raised its stake in Univest Corporation of Pennsylvania by 26.9% during the second quarter. Arrowstreet Capital Limited Partnership now owns 359,737 shares of the financial services provider’s stock worth $10,806,000 after acquiring an additional 76,242 shares during the period. Finally, Strs Ohio acquired a new stake in Univest Corporation of Pennsylvania during the first quarter worth about $596,000. 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.