Univest Corporation of Pennsylvania (NASDAQ:UVSP) Share Price Crosses Above 200-Day Moving Average After Analyst Downgrade

Univest Corporation of Pennsylvania (NASDAQ:UVSP)’s stock price crossed above its 200-day moving average during trading on Monday after Zacks Research upgraded the stock from a hold rating to a strong-buy rating. The stock has a 200-day moving average of $40.59 and traded as high as $41.79. Univest Corporation of Pennsylvania shares last traded at $41.65, with a volume of 173,836 shares trading hands.

Several other analysts have also recently issued reports on the company. Weiss Ratings raised Univest Corporation of Pennsylvania from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Tuesday, July 28th. Keefe, Bruyette & Woods upped their price target on Univest Corporation of Pennsylvania from $45.00 to $47.00 and gave the company a “market perform” rating in a research report on Friday, July 24th. One investment analyst has rated the stock with a Strong Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $40.50.

Insider Transactions at Univest Corporation of Pennsylvania

In other Univest Corporation of Pennsylvania news, Director Michael Turner sold 8,000 shares of the company’s stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $43.03, for a total value of $344,240.00. Following the completion of the transaction, the director directly owned 24,684 shares in the company, valued at approximately $1,062,152.52. This represents a 24.48% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.83% of the company’s stock.

Hedge Funds Weigh In On Univest Corporation of Pennsylvania

Hedge funds and other institutional investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP lifted its holdings in Univest Corporation of Pennsylvania by 0.4% in the first quarter. Dimensional Fund Advisors LP now owns 1,886,235 shares of the financial services provider’s stock worth $64,622,000 after buying an additional 6,965 shares during the period. Assenagon Asset Management S.A. grew its holdings in shares of Univest Corporation of Pennsylvania by 39.2% during the 2nd quarter. Assenagon Asset Management S.A. now owns 358,183 shares of the financial services provider’s stock worth $15,671,000 after acquiring an additional 100,780 shares during the period. Arrowstreet Capital Limited Partnership raised its position in shares of Univest Corporation of Pennsylvania by 4.1% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 346,893 shares of the financial services provider’s stock worth $11,885,000 after acquiring an additional 13,772 shares in the last quarter. Sei Investments Co. raised its position in shares of Univest Corporation of Pennsylvania by 12.1% in the 1st quarter. Sei Investments Co. now owns 271,772 shares of the financial services provider’s stock worth $9,311,000 after acquiring an additional 29,247 shares in the last quarter. Finally, Bank of America Corp DE raised its position in shares of Univest Corporation of Pennsylvania by 18.1% in the 1st quarter. Bank of America Corp DE now owns 225,853 shares of the financial services provider’s stock worth $7,738,000 after acquiring an additional 34,557 shares in the last quarter. Hedge funds and other institutional investors own 75.07% of the company’s stock.

Univest Corporation of Pennsylvania Trading Down 1.2%

The company has a market cap of $1.13 billion, a PE ratio of 11.82 and a beta of 0.67. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.10. The stock has a 50 day moving average price of $42.40 and a 200 day moving average price of $40.65.

Univest Corporation of Pennsylvania (NASDAQ:UVSP) last released its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $0.82 earnings per share for the quarter, missing the consensus estimate of $0.87 by ($0.05). The firm had revenue of $89.59 million for the quarter, compared to the consensus estimate of $86.66 million. Univest Corporation of Pennsylvania had a net margin of 18.86% and a return on equity of 10.41%. Sell-side analysts predict that Univest Corporation of Pennsylvania will post 3.72 EPS for the current fiscal year.

Univest Corporation of Pennsylvania Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 19th. Investors of record on Wednesday, August 5th were paid a dividend of $0.23 per share. The ex-dividend date of this dividend was Wednesday, August 5th. This represents a $0.92 annualized dividend and a yield of 2.2%. Univest Corporation of Pennsylvania’s payout ratio is presently 26.59%.

Univest Corporation of Pennsylvania Company Profile

Univest Corporation of Pennsylvania is a financial services holding company headquartered in Souderton, Pennsylvania. Through its principal banking subsidiary, Univest Bank and Trust Co, the company provides banking and related financial services to individuals, families, businesses, municipalities and nonprofit organizations.

Its offerings include checking and savings accounts, consumer and residential lending, commercial loans, treasury management, cash-management services and other deposit products.