Univest Financial (NASDAQ:UVSP) Rating Reiterated by Keefe, Bruyette & Woods

Univest Financial (NASDAQ:UVSP)‘s stock had its “market perform” rating reiterated by equities researchers at Keefe, Bruyette & Woods in a report issued on Friday, Benzinga reports. They currently have a $29.00 price objective on the financial services provider’s stock, up from their prior price objective of $23.00. Keefe, Bruyette & Woods’ price objective suggests a potential upside of 2.95% from the stock’s previous close.

Univest Financial Stock Up 2.7 %

Shares of NASDAQ UVSP opened at $28.17 on Friday. Univest Financial has a 12-month low of $16.10 and a 12-month high of $29.49. The stock has a market cap of $824.54 million, a PE ratio of 11.79 and a beta of 0.86. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.18. The company has a 50-day moving average of $22.80 and a 200 day moving average of $21.22.

Univest Financial (NASDAQ:UVSP) last announced its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.10. Univest Financial had a net margin of 14.91% and a return on equity of 8.29%. The company had revenue of $120.81 million during the quarter, compared to analysts’ expectations of $72.50 million. During the same quarter in the prior year, the company earned $0.61 EPS. As a group, sell-side analysts predict that Univest Financial will post 2.11 EPS for the current fiscal year.

Insider Buying and Selling at Univest Financial

In other Univest Financial news, CEO Jeffrey M. Schweitzer sold 9,000 shares of the business’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $22.55, for a total value of $202,950.00. Following the transaction, the chief executive officer now directly owns 90,187 shares in the company, valued at approximately $2,033,716.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 2.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Univest Financial

Several institutional investors and hedge funds have recently bought and sold shares of UVSP. The Manufacturers Life Insurance Company boosted its holdings in Univest Financial by 8.9% in the 4th quarter. The Manufacturers Life Insurance Company now owns 1,197,934 shares of the financial services provider’s stock valued at $26,390,000 after purchasing an additional 98,009 shares during the last quarter. Sei Investments Co. lifted its holdings in shares of Univest Financial by 28.3% in the 1st quarter. Sei Investments Co. now owns 118,994 shares of the financial services provider’s stock worth $2,478,000 after acquiring an additional 26,234 shares during the last quarter. Bailard Inc. lifted its holdings in shares of Univest Financial by 203.6% in the 4th quarter. Bailard Inc. now owns 33,400 shares of the financial services provider’s stock worth $736,000 after acquiring an additional 22,400 shares during the last quarter. State Board of Administration of Florida Retirement System acquired a new position in shares of Univest Financial in the 1st quarter worth approximately $465,000. Finally, Leeward Investments LLC MA lifted its holdings in shares of Univest Financial by 5.6% in the 2nd quarter. Leeward Investments LLC MA now owns 404,942 shares of the financial services provider’s stock worth $9,245,000 after acquiring an additional 21,550 shares during the last quarter. 75.07% of the stock is currently owned by institutional investors and hedge funds.

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.