Univest Corporation of Pennsylvania (NASDAQ:UVSP) Price Target Raised to $34.00

Univest Corporation of Pennsylvania (NASDAQ:UVSP) had its price objective lifted by Keefe, Bruyette & Woods from $33.00 to $34.00 in a research report sent to investors on Friday morning,Benzinga reports. Keefe, Bruyette & Woods currently has a market perform rating on the financial services provider’s stock.

Separately, Weiss Ratings reissued a “buy (b-)” rating on shares of Univest Corporation of Pennsylvania in a research report on Tuesday, October 14th. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $32.50.

Univest Corporation of Pennsylvania Price Performance

NASDAQ UVSP opened at $30.95 on Friday. The company has a 50-day moving average price of $30.48 and a 200-day moving average price of $30.00. Univest Corporation of Pennsylvania has a 52 week low of $22.83 and a 52 week high of $32.86. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $891.67 million, a P/E ratio of 10.32 and a beta of 0.72.

Univest Corporation of Pennsylvania (NASDAQ:UVSP) last posted its quarterly earnings data on Tuesday, February 8th. The financial services provider reported $0.52 earnings per share (EPS) for the quarter. Univest Corporation of Pennsylvania had a net margin of 16.94% and a return on equity of 9.63%. The company had revenue of $62.30 million for the quarter. Equities research analysts anticipate that Univest Corporation of Pennsylvania will post 2.36 earnings per share for the current year.

Univest Corporation of Pennsylvania Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 19th. Shareholders of record on Wednesday, November 5th will be given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date is Wednesday, November 5th. Univest Corporation of Pennsylvania’s dividend payout ratio is presently 29.33%.

Insider Activity

In other news, Director Thomas M. Petro sold 9,000 shares of the firm’s stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $31.75, for a total transaction of $285,750.00. Following the sale, the director directly owned 50,193 shares in the company, valued at $1,593,627.75. This trade represents a 15.20% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 1.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Univest Corporation of Pennsylvania

A number of institutional investors and hedge funds have recently bought and sold shares of UVSP. The Manufacturers Life Insurance Company lifted its position in shares of 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 acquiring an additional 193,561 shares in the last quarter. Allianz Asset Management GmbH purchased a new position in Univest Corporation of Pennsylvania in the 1st quarter worth approximately $4,953,000. Nuveen LLC purchased a new position in Univest Corporation of Pennsylvania in the 1st quarter worth approximately $3,384,000. The Manufacturers Life Insurance Company boosted its stake in Univest Corporation of Pennsylvania by 6.5% in the 1st quarter. The Manufacturers Life Insurance Company now owns 1,282,311 shares of the financial services provider’s stock worth $36,366,000 after purchasing an additional 77,781 shares during the period. Finally, Arrowstreet Capital Limited Partnership grew its holdings in Univest Corporation of Pennsylvania by 26.9% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 359,737 shares of the financial services provider’s stock valued at $10,806,000 after buying an additional 76,242 shares in the last quarter. 75.07% of the stock is owned by institutional investors.

Univest Corporation of Pennsylvania Company Profile

Univest Financial Corporation operates as the bank holding company for Univest Bank and Trust Co that provides banking products and services primarily in the United States. It operates through three segments: Banking, Wealth Management, and Insurance. The Banking segment offers a range of banking services, such as deposit taking, loan origination and servicing, mortgage banking, other general banking, and equipment lease financing services for individuals, businesses, municipalities, and nonprofit organizations.