Univest Corporation of Pennsylvania (NASDAQ:UVSP) Given New $47.00 Price Target at Keefe, Bruyette & Woods

Univest Corporation of Pennsylvania (NASDAQ:UVSP) had its price objective raised by Keefe, Bruyette & Woods from $45.00 to $47.00 in a research note published on Friday,Benzinga reports. Keefe, Bruyette & Woods currently has a market perform rating on the financial services provider’s stock.

Separately, Weiss Ratings raised shares of Univest Corporation of Pennsylvania from a “buy (b)” rating to a “buy (b+)” rating in a research report on Wednesday, July 8th. One equities research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, Univest Corporation of Pennsylvania has an average rating of “Hold” and an average target price of $40.50.

Univest Corporation of Pennsylvania Trading Down 0.2%

NASDAQ:UVSP opened at $44.10 on Friday. The firm has a market capitalization of $1.23 billion, a P/E ratio of 12.75 and a beta of 0.66. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.02 and a quick ratio of 1.02. Univest Corporation of Pennsylvania has a one year low of $27.91 and a one year high of $45.46. The company’s 50-day simple moving average is $42.11 and its 200 day simple moving average is $37.48.

Univest Corporation of Pennsylvania (NASDAQ:UVSP) last issued its quarterly earnings results on Wednesday, July 22nd. The financial services provider reported $0.82 EPS for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.05). The company had revenue of $84.35 million during the quarter, compared to the consensus estimate of $86.66 million. Univest Corporation of Pennsylvania had a return on equity of 10.44% and a net margin of 18.86%. As a group, analysts forecast that Univest Corporation of Pennsylvania will post 3.6 EPS for the current fiscal year.

Univest Corporation of Pennsylvania Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 19th. Stockholders of record on Wednesday, August 5th will be paid a dividend of $0.23 per share. The ex-dividend date of this dividend is Wednesday, August 5th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.1%. Univest Corporation of Pennsylvania’s dividend payout ratio is currently 26.59%.

Insiders Place Their Bets

In other news, CEO Jeffrey M. Schweitzer sold 13,933 shares of the company’s stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $40.91, for a total value of $569,999.03. Following the transaction, the chief executive officer directly owned 110,513 shares in the company, valued at approximately $4,521,086.83. This represents a 11.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Brian J. Richardson sold 2,090 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief financial officer owned 24,228 shares of the company’s stock, valued at $990,925.20. The trade was a 7.94% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 36,268 shares of company stock valued at $1,427,334 over the last quarter. 1.83% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Univest Corporation of Pennsylvania

Several hedge funds have recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Univest Corporation of Pennsylvania by 4.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,171 shares of the financial services provider’s stock worth $487,000 after buying an additional 703 shares during the last quarter. Empowered Funds LLC boosted its holdings in Univest Corporation of Pennsylvania by 4.2% in the 1st quarter. Empowered Funds LLC now owns 102,517 shares of the financial services provider’s stock worth $2,907,000 after buying an additional 4,087 shares during the last quarter. Jane Street Group LLC acquired a new stake in Univest Corporation of Pennsylvania during the 1st quarter worth $1,467,000. Geneos Wealth Management Inc. increased its holdings in shares of Univest Corporation of Pennsylvania by 545.3% in the first quarter. Geneos Wealth Management Inc. now owns 2,665 shares of the financial services provider’s stock valued at $76,000 after purchasing an additional 2,252 shares during the last quarter. Finally, Legal & General Group Plc lifted its position in Univest Corporation of Pennsylvania by 8.1% during the second quarter. Legal & General Group Plc now owns 30,612 shares of the financial services provider’s stock worth $920,000 after buying an additional 2,291 shares in the last quarter. Hedge funds and other 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.