Univest Corporation of Pennsylvania $UVSP Stock Sold by Pzena Investment Management LLC

Pzena Investment Management LLC cut its position in Univest Corporation of Pennsylvania (NASDAQ:UVSP) by 39.1% during the 3rd quarter, HoldingsChannel reports. The firm owned 508,266 shares of the financial services provider’s stock after selling 326,362 shares during the quarter. Pzena Investment Management LLC’s holdings in Univest Corporation of Pennsylvania were worth $20,829,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of UVSP. Assenagon Asset Management S.A. boosted its stake in 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 valued at $15,671,000 after purchasing an additional 100,780 shares during the period. Principal Financial Group Inc. acquired a new stake in shares of Univest Corporation of Pennsylvania in the first quarter valued at approximately $1,246,000. Bank of America Corp DE increased its stake in shares of Univest Corporation of Pennsylvania by 18.1% in the first quarter. Bank of America Corp DE now owns 225,853 shares of the financial services provider’s stock valued at $7,738,000 after purchasing an additional 34,557 shares during the period. Sei Investments Co. raised its holdings in shares of Univest Corporation of Pennsylvania by 12.1% during the first quarter. Sei Investments Co. now owns 271,772 shares of the financial services provider’s stock valued at $9,311,000 after buying an additional 29,247 shares during the last quarter. Finally, Hsbc Holdings PLC raised its holdings in shares of Univest Corporation of Pennsylvania by 124.9% during the second quarter. Hsbc Holdings PLC now owns 52,472 shares of the financial services provider’s stock valued at $2,317,000 after buying an additional 29,138 shares during the last quarter. 75.07% of the stock is owned by institutional investors and hedge funds.

Univest Corporation of Pennsylvania Trading Down 2.9%

Shares of Univest Corporation of Pennsylvania stock opened at $40.30 on Friday. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.10. The firm has a market cap of $1.09 billion, a price-to-earnings ratio of 12.39 and a beta of 0.68. The business has a fifty day simple moving average of $41.60 and a 200-day simple moving average of $39.37. Univest Corporation of Pennsylvania has a fifty-two week low of $28.20 and a fifty-two week high of $45.46.

Univest Corporation of Pennsylvania (NASDAQ:UVSP) last announced its earnings results on Thursday, October 29th. The financial services provider reported $0.78 earnings per share for the quarter, missing the consensus estimate of $0.98 by ($0.20). Univest Corporation of Pennsylvania had a net margin of 17.95% and a return on equity of 9.93%. The firm had revenue of $90.03 million for the quarter, compared to the consensus estimate of $90.55 million. On average, equities analysts forecast that Univest Corporation of Pennsylvania will post 3.72 EPS for the current fiscal year.

Univest Corporation of Pennsylvania Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 25th. Shareholders of record on Wednesday, November 11th will be given a $0.23 dividend. The ex-dividend date is Tuesday, November 10th. This represents a $0.92 annualized dividend and a yield of 2.3%. Univest Corporation of Pennsylvania’s payout ratio is 27.46%.

Insiders Place Their Bets

In other Univest Corporation of Pennsylvania news, Director Michael Turner sold 8,000 shares of the company’s stock in a transaction dated 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 sale, the director directly owned 24,684 shares of the company’s stock, valued at approximately $1,062,152.52. This represents a 24.48% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.83% of the company’s stock.

Analyst Ratings Changes

UVSP has been the subject of several analyst reports. Keefe, Bruyette & Woods boosted their price objective on Univest Corporation of Pennsylvania from $45.00 to $47.00 and gave the stock a “market perform” rating in a research report on Friday, July 24th. Weiss Ratings restated a “buy (a-)” rating on shares of Univest Corporation of Pennsylvania in a research report on Monday, October 26th. Finally, Zacks Research downgraded Univest Corporation of Pennsylvania from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 2nd. One research analyst has rated the stock with a Strong Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $40.50.

About Univest Corporation of Pennsylvania

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

Univest’s banking services include checking and savings accounts, consumer and commercial lending, mortgages, cash-management and treasury services, online and mobile banking, and other deposit products. The company also offers wealth management, investment and trust services, as well as insurance products through affiliated operations.

Founded in 1876, Univest has historically focused on serving communities in southeastern Pennsylvania, including the Philadelphia suburbs and surrounding counties.