Univest Corporation of Pennsylvania (NASDAQ:UVSP) Shares Pass Above 200 Day Moving Average – Here’s Why

Shares of Univest Corporation of Pennsylvania (NASDAQ:UVSP) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $32.45 and traded as high as $35.05. Univest Corporation of Pennsylvania shares last traded at $35.02, with a volume of 164,245 shares.

Analysts Set New Price Targets

UVSP has been the subject of several recent research reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Univest Corporation of Pennsylvania in a report on Friday, March 27th. Zacks Research raised Univest Corporation of Pennsylvania to a “hold” rating in a report on Thursday, December 4th. Finally, Keefe, Bruyette & Woods boosted their price objective on Univest Corporation of Pennsylvania from $34.00 to $36.00 and gave the company a “market perform” rating in a research report on Tuesday, February 3rd. One research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, Univest Corporation of Pennsylvania has a consensus rating of “Hold” and an average target price of $35.00.

Univest Corporation of Pennsylvania Stock Up 0.6%

The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.32. The business’s fifty day moving average price is $34.07 and its 200 day moving average price is $32.45. The company has a market capitalization of $983.36 million, a P/E ratio of 11.15 and a beta of 0.61.

Univest Corporation of Pennsylvania (NASDAQ:UVSP) last posted its earnings results on Thursday, January 29th. The financial services provider reported $0.79 earnings per share for the quarter, beating analysts’ consensus estimates of $0.78 by $0.01. Univest Corporation of Pennsylvania had a net margin of 17.51% and a return on equity of 9.82%. The business had revenue of $84.57 million for the quarter, compared to analysts’ expectations of $82.54 million. As a group, equities research analysts predict that Univest Corporation of Pennsylvania will post 2.36 earnings per share for the current fiscal year.

Univest Corporation of Pennsylvania Announces Dividend

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

Hedge Funds Weigh In On Univest Corporation of Pennsylvania

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in shares of Univest Corporation of Pennsylvania by 1.0% in the 3rd quarter. Vanguard Group Inc. now owns 1,741,938 shares of the financial services provider’s stock valued at $52,293,000 after purchasing an additional 16,682 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Univest Corporation of Pennsylvania by 15.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,475,872 shares of the financial services provider’s stock worth $44,335,000 after purchasing an additional 193,561 shares in the last quarter. Pzena Investment Management LLC lifted its holdings in Univest Corporation of Pennsylvania by 0.3% during the 3rd quarter. Pzena Investment Management LLC now owns 890,902 shares of the financial services provider’s stock valued at $26,745,000 after purchasing an additional 2,693 shares during the last quarter. UNIVEST FINANCIAL Corp boosted its position in Univest Corporation of Pennsylvania by 22.2% in the fourth quarter. UNIVEST FINANCIAL Corp now owns 617,526 shares of the financial services provider’s stock valued at $20,218,000 after buying an additional 112,203 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in Univest Corporation of Pennsylvania by 38.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 379,679 shares of the financial services provider’s stock valued at $12,431,000 after buying an additional 104,516 shares in the last quarter. 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.