Univest Corporation of Pennsylvania $UVSP Shares Sold by Renaissance Technologies LLC

Renaissance Technologies LLC lessened its position in shares of Univest Corporation of Pennsylvania (NASDAQ:UVSP) by 8.1% during the 1st quarter, Holdings Channel reports. The firm owned 583,734 shares of the financial services provider’s stock after selling 51,496 shares during the quarter. Renaissance Technologies LLC’s holdings in Univest Corporation of Pennsylvania were worth $19,999,000 as of its most recent filing with the SEC.

A number of other hedge funds have also modified their holdings of the company. Russell Investments Group Ltd. acquired a new stake in shares of Univest Corporation of Pennsylvania during the second quarter worth about $42,000. Geneos Wealth Management Inc. boosted its position in 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 buying an additional 2,252 shares during the last quarter. Osaic Holdings Inc. acquired a new position in Univest Corporation of Pennsylvania in the 2nd quarter worth approximately $91,000. Tower Research Capital LLC TRC increased its holdings in Univest Corporation of Pennsylvania by 69.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,225 shares of the financial services provider’s stock worth $97,000 after buying an additional 1,324 shares during the period. Finally, Mariner LLC purchased a new position in Univest Corporation of Pennsylvania during the 4th quarter worth approximately $211,000. 75.07% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have commented on UVSP shares. Zacks Research upgraded shares of Univest Corporation of Pennsylvania from a “hold” rating to a “strong-buy” rating in a research note on Tuesday. Keefe, Bruyette & Woods upped their price target on shares of Univest Corporation of Pennsylvania from $45.00 to $47.00 and gave the company a “market perform” rating in a report on Friday, July 24th. Finally, Weiss Ratings raised Univest Corporation of Pennsylvania from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Tuesday. Two equities research analysts have rated the stock with a Strong Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $40.50.

Univest Corporation of Pennsylvania Stock Performance

Shares of NASDAQ UVSP opened at $44.40 on Friday. The company has a market capitalization of $1.22 billion, a PE ratio of 12.83 and a beta of 0.66. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.02 and a current ratio of 1.02. The company’s fifty day moving average price is $42.57 and its 200 day moving average price is $37.84. Univest Corporation of Pennsylvania has a 1 year low of $27.91 and a 1 year high of $45.46.

Univest Corporation of Pennsylvania (NASDAQ:UVSP) last released its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $0.82 earnings per share for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.05). The firm had revenue of $89.59 million during the quarter, compared to analysts’ expectations of $86.66 million. Univest Corporation of Pennsylvania had a net margin of 18.86% and a return on equity of 10.41%. On average, research analysts predict that Univest Corporation of Pennsylvania will post 3.67 earnings per share for the current year.

Univest Corporation of Pennsylvania Dividend Announcement

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

Insiders Place Their Bets

In other Univest Corporation of Pennsylvania news, CFO Brian J. Richardson sold 2,090 shares of the firm’s stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $40.90, for a total value of $85,481.00. Following the sale, the chief financial officer directly owned 24,228 shares of the company’s stock, valued at approximately $990,925.20. This trade represents a 7.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Michael S. Keim sold 7,245 shares of the business’s stock in a transaction that occurred on 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 sale, the chief operating officer owned 66,979 shares of the company’s stock, valued at $2,592,757.09. This trade represents a 9.76% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 23,268 shares of company stock worth $935,934. 1.83% of the stock is owned by corporate insiders.

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.