Univest Financial (NASDAQ:UVSP) Sets New 52-Week High – Here’s What Happened

Univest Financial Co. (NASDAQ:UVSP)’s stock price hit a new 52-week high on Wednesday . The stock traded as high as $31.05 and last traded at $31.05, with a volume of 3285 shares trading hands. The stock had previously closed at $28.70.

Wall Street Analyst Weigh In

UVSP has been the topic of several recent analyst reports. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $29.00 target price (up previously from $23.00) on shares of Univest Financial in a report on Friday, July 26th. Piper Sandler increased their target price on shares of Univest Financial from $24.00 to $27.00 and gave the company a “neutral” rating in a research report on Friday, October 25th.

Univest Financial Trading Up 9.9 %

The business has a 50-day moving average of $27.81 and a 200-day moving average of $25.10. The stock has a market capitalization of $915.63 million, a price-to-earnings ratio of 11.53 and a beta of 0.85. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.02 and a current ratio of 1.02.

Univest Financial (NASDAQ:UVSP) last posted its quarterly earnings data on Wednesday, October 23rd. The financial services provider reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.07. The business had revenue of $126.59 million during the quarter, compared to the consensus estimate of $74.11 million. Univest Financial had a return on equity of 8.24% and a net margin of 14.90%. During the same period in the prior year, the company earned $0.58 earnings per share. As a group, research analysts forecast that Univest Financial Co. will post 2.38 EPS for the current year.

Univest Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 20th. Shareholders of record on Wednesday, November 6th will be paid a $0.21 dividend. The ex-dividend date of this dividend is Wednesday, November 6th. This represents a $0.84 dividend on an annualized basis and a yield of 2.66%. Univest Financial’s dividend payout ratio is presently 33.73%.

Insider Transactions at Univest Financial

In other Univest Financial news, CEO Jeffrey M. Schweitzer sold 2,773 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $28.56, for a total transaction of $79,196.88. Following the completion of the sale, the chief executive officer now directly owns 90,187 shares of the company’s stock, valued at $2,575,740.72. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Jeffrey M. Schweitzer sold 1,200 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $28.50, for a total value of $34,200.00. Following the completion of the sale, the chief executive officer now owns 90,187 shares in the company, valued at approximately $2,570,329.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jeffrey M. Schweitzer sold 2,773 shares of the business’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $28.56, for a total transaction of $79,196.88. Following the transaction, the chief executive officer now owns 90,187 shares in the company, valued at approximately $2,575,740.72. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 14,389 shares of company stock worth $412,352. Company insiders own 2.09% of the company’s stock.

Hedge Funds Weigh In On Univest Financial

Several institutional investors and hedge funds have recently added to or reduced their stakes in UVSP. Capital Performance Advisors LLP acquired a new position in Univest Financial during the third quarter worth $25,000. Innealta Capital LLC purchased a new position in shares of Univest Financial in the 2nd quarter valued at about $28,000. International Assets Investment Management LLC lifted its stake in shares of Univest Financial by 2,713.5% in the third quarter. International Assets Investment Management LLC now owns 1,463 shares of the financial services provider’s stock valued at $41,000 after purchasing an additional 1,411 shares during the period. CWM LLC boosted its holdings in Univest Financial by 212.7% during the second quarter. CWM LLC now owns 3,731 shares of the financial services provider’s stock worth $85,000 after buying an additional 2,538 shares in the last quarter. Finally, Comerica Bank grew its position in Univest Financial by 11,533.8% during the first quarter. Comerica Bank now owns 8,609 shares of the financial services provider’s stock worth $179,000 after buying an additional 8,535 shares during the period. Institutional investors and hedge funds own 75.07% of the company’s stock.

About Univest Financial

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.