Univest Corporation of Pennsylvania (NASDAQ:UVSP) CEO Sells $569,999.03 in Stock

Univest Corporation of Pennsylvania (NASDAQ:UVSP) CEO Jeffrey Schweitzer sold 13,933 shares of the company’s stock in a transaction on Monday, June 8th. The stock was sold at an average price of $40.91, for a total transaction of $569,999.03. Following the transaction, the chief executive officer owned 110,513 shares of the company’s stock, valued at $4,521,086.83. This trade represents a 11.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Univest Corporation of Pennsylvania Stock Up 0.6%

Shares of NASDAQ:UVSP opened at $42.02 on Friday. The company has a fifty day moving average of $38.24 and a 200-day moving average of $35.30. The company has a market capitalization of $1.17 billion, a PE ratio of 12.62 and a beta of 0.67. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.02 and a current ratio of 1.02. Univest Corporation of Pennsylvania has a 52-week low of $27.91 and a 52-week high of $42.29.

Univest Corporation of Pennsylvania (NASDAQ:UVSP) last announced its quarterly earnings results on Wednesday, April 22nd. The financial services provider reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.12. The company had revenue of $87.45 million during the quarter, compared to the consensus estimate of $84.85 million. Univest Corporation of Pennsylvania had a net margin of 18.25% and a return on equity of 10.19%. On average, equities analysts predict that Univest Corporation of Pennsylvania will post 3.6 EPS for the current fiscal year.

Univest Corporation of Pennsylvania Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 20th. Stockholders of record on Wednesday, May 6th were issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 2.2%. This is a boost from Univest Corporation of Pennsylvania’s previous quarterly dividend of $0.22. The ex-dividend date was Wednesday, May 6th. Univest Corporation of Pennsylvania’s dividend payout ratio (DPR) is currently 27.63%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on UVSP. Weiss Ratings reiterated a “buy (b)” rating on shares of Univest Corporation of Pennsylvania in a report on Friday, March 27th. Keefe, Bruyette & Woods upped their price target on shares of Univest Corporation of Pennsylvania from $37.00 to $40.00 and gave the stock a “market perform” rating in a report on Friday, April 24th. One equities research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $37.00.

Institutional Trading of Univest Corporation of Pennsylvania

A number of institutional investors and hedge funds have recently bought and sold shares of UVSP. Assenagon Asset Management S.A. acquired a new stake in Univest Corporation of Pennsylvania in the first quarter valued at $8,819,000. The Manufacturers Life Insurance Company increased its holdings in Univest Corporation of Pennsylvania by 15.1% in the second quarter. The Manufacturers Life Insurance Company now owns 1,475,872 shares of the financial services provider’s stock valued at $44,335,000 after purchasing an additional 193,561 shares during the period. UNIVEST FINANCIAL Corp increased its holdings 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 purchasing an additional 112,203 shares during the period. Goldman Sachs Group Inc. increased its holdings 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 purchasing an additional 104,516 shares during the period. Finally, SG Americas Securities LLC increased its holdings in Univest Corporation of Pennsylvania by 359.9% in the first quarter. SG Americas Securities LLC now owns 99,155 shares of the financial services provider’s stock valued at $3,397,000 after purchasing an additional 77,594 shares during the period. 75.07% of the stock is currently 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.