Michael Keim Sells 7,245 Shares of Univest Corporation of Pennsylvania (NASDAQ:UVSP) Stock

Univest Corporation of Pennsylvania (NASDAQ:UVSP) COO Michael Keim sold 7,245 shares of Univest Corporation of Pennsylvania stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $38.71, for a total value of $280,453.95. Following the completion of the transaction, the chief operating officer owned 66,979 shares in the company, valued at $2,592,757.09. This trade represents a 9.76% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Univest Corporation of Pennsylvania Stock Down 0.1%

Shares of NASDAQ:UVSP traded down $0.02 during trading on Thursday, reaching $38.74. The stock had a trading volume of 59,668 shares, compared to its average volume of 179,697. The firm’s 50-day simple moving average is $35.21 and its 200 day simple moving average is $33.57. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.10. Univest Corporation of Pennsylvania has a one year low of $27.91 and a one year high of $39.06. The company has a market capitalization of $1.08 billion, a P/E ratio of 11.64 and a beta of 0.67.

Univest Corporation of Pennsylvania (NASDAQ:UVSP) last posted its earnings results on Wednesday, April 22nd. The financial services provider reported $0.96 EPS for the quarter, beating analysts’ consensus estimates of $0.84 by $0.12. The company had revenue of $87.45 million during the quarter, compared to analysts’ expectations of $84.85 million. Univest Corporation of Pennsylvania had a net margin of 18.25% and a return on equity of 10.19%. As a group, research analysts expect that Univest Corporation of Pennsylvania will post 3.6 EPS for the current fiscal year.

Univest Corporation of Pennsylvania Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 20th. Stockholders of record on Wednesday, May 6th will be given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend is Wednesday, May 6th. This is a positive change from Univest Corporation of Pennsylvania’s previous quarterly dividend of $0.22. Univest Corporation of Pennsylvania’s payout ratio is 26.43%.

Analyst Upgrades and Downgrades

A number of research firms have commented on UVSP. Keefe, Bruyette & Woods increased their price target on Univest Corporation of Pennsylvania from $37.00 to $40.00 and gave the company a “market perform” rating in a research note on Friday, April 24th. Weiss Ratings restated a “buy (b)” rating on shares of Univest Corporation of Pennsylvania in a report on Friday, March 27th. One investment analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, Univest Corporation of Pennsylvania currently has an average rating of “Hold” and a consensus target price of $37.00.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. State of Alaska Department of Revenue acquired a new stake in shares of Univest Corporation of Pennsylvania during the third quarter worth about $34,000. Russell Investments Group Ltd. purchased a new position in Univest Corporation of Pennsylvania during the 2nd quarter worth approximately $42,000. Geneos Wealth Management Inc. raised its position in Univest Corporation of Pennsylvania by 545.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 2,665 shares of the financial services provider’s stock worth $76,000 after buying an additional 2,252 shares during the last quarter. Osaic Holdings Inc. acquired a new stake in Univest Corporation of Pennsylvania during the 2nd quarter valued at approximately $91,000. Finally, Tower Research Capital LLC TRC lifted its stake in Univest Corporation of Pennsylvania by 69.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,225 shares of the financial services provider’s stock valued at $97,000 after acquiring an additional 1,324 shares during the period. 75.07% of the stock is owned by institutional investors and hedge funds.

Univest Corporation of Pennsylvania Company Profile

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.