Univest Corporation of Pennsylvania (NASDAQ:UVSP) Reaches New 1-Year High on Analyst Upgrade

Shares of Univest Corporation of Pennsylvania (NASDAQ:UVSP) reached a new 52-week high during mid-day trading on Wednesday after Keefe, Bruyette & Woods raised their price target on the stock from $34.00 to $36.00. Keefe, Bruyette & Woods currently has a market perform rating on the stock. Univest Corporation of Pennsylvania traded as high as $36.00 and last traded at $35.62, with a volume of 35818 shares changing hands. The stock had previously closed at $35.30.

Other equities research analysts have also issued research reports about the company. Zacks Research raised Univest Corporation of Pennsylvania to a “hold” rating in a research report on Thursday, December 4th. Piper Sandler started coverage on shares of Univest Corporation of Pennsylvania in a research note on Wednesday, December 3rd. They issued a “neutral” rating and a $34.00 price target on the stock. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Univest Corporation of Pennsylvania in a report on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, Univest Corporation of Pennsylvania has an average rating of “Hold” and an average price target of $35.00.

Hedge Funds Weigh In On Univest Corporation of Pennsylvania

A number of institutional investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in Univest Corporation of Pennsylvania by 1.0% during the 3rd quarter. Vanguard Group Inc. now owns 1,741,938 shares of the financial services provider’s stock worth $52,293,000 after purchasing an additional 16,682 shares during the period. The Manufacturers Life Insurance Company boosted its stake in shares of Univest Corporation of Pennsylvania by 15.1% during the second quarter. The Manufacturers Life Insurance Company now owns 1,475,872 shares of the financial services provider’s stock worth $44,335,000 after buying an additional 193,561 shares during the period. Pzena Investment Management LLC grew its holdings in shares of Univest Corporation of Pennsylvania by 0.3% during the third quarter. Pzena Investment Management LLC now owns 890,902 shares of the financial services provider’s stock worth $26,745,000 after buying an additional 2,693 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of 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 worth $23,243,000 after buying an additional 36,662 shares during the last quarter. Finally, American Century Companies Inc. increased its position in Univest Corporation of Pennsylvania by 0.9% in the 2nd quarter. American Century Companies Inc. now owns 688,723 shares of the financial services provider’s stock valued at $20,689,000 after acquiring an additional 5,900 shares during the period. 75.07% of the stock is owned by institutional investors and hedge funds.

Univest Corporation of Pennsylvania Trading Up 0.1%

The company has a 50 day simple moving average of $33.59 and a 200 day simple moving average of $31.42. 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 stock has a market capitalization of $1.01 billion, a PE ratio of 11.29 and a beta of 0.69.

Univest Corporation of Pennsylvania (NASDAQ:UVSP) last announced its earnings results on Wednesday, January 28th. The financial services provider reported $0.79 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.01. The company had revenue of $84.57 million for the quarter, compared to the consensus estimate of $82.54 million. Univest Corporation of Pennsylvania had a return on equity of 9.89% and a net margin of 17.51%. Analysts predict that Univest Corporation of Pennsylvania will post 2.36 earnings per share for the current fiscal year.

Univest Corporation of Pennsylvania Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 25th. Shareholders of record on Wednesday, February 11th will be paid a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend is Wednesday, February 11th. Univest Corporation of Pennsylvania’s payout ratio is currently 28.03%.

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.