Rhumbline Advisers Acquires 503 Shares of Univest Financial Co. (NASDAQ:UVSP)

Rhumbline Advisers grew its stake in Univest Financial Co. (NASDAQ:UVSP) by 1.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 47,766 shares of the financial services provider’s stock after acquiring an additional 503 shares during the period. Rhumbline Advisers owned 0.16% of Univest Financial worth $1,090,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of UVSP. Vanguard Group Inc. raised its stake in shares of Univest Financial by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 1,571,213 shares of the financial services provider’s stock worth $32,713,000 after purchasing an additional 19,307 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in Univest Financial by 8.9% in the fourth 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 acquiring an additional 98,009 shares during the last quarter. Leeward Investments LLC MA grew its position 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 valued at $9,245,000 after acquiring an additional 21,550 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Univest Financial by 0.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 303,331 shares of the financial services provider’s stock worth $6,682,000 after purchasing an additional 2,784 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of Univest Financial by 4.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 174,115 shares of the financial services provider’s stock worth $3,975,000 after purchasing an additional 6,724 shares during the last quarter. Institutional investors and hedge funds own 75.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on UVSP. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $29.00 target price (up from $23.00) on shares of Univest Financial in a research note on Friday, July 26th. Piper Sandler lifted their price objective on shares of Univest Financial from $20.00 to $24.00 and gave the stock a “neutral” rating in a research report on Friday, July 26th.

Univest Financial Trading Down 2.5 %

Shares of NASDAQ:UVSP opened at $28.47 on Monday. Univest Financial Co. has a 12-month low of $16.10 and a 12-month high of $29.49. The business has a 50 day moving average of $27.26 and a 200-day moving average of $23.29. The company has a quick ratio of 1.01, a current ratio of 1.02 and a debt-to-equity ratio of 0.17. The stock has a market cap of $833.37 million, a PE ratio of 11.91 and a beta of 0.85.

Univest Financial (NASDAQ:UVSP) last released its quarterly earnings results 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. The business had revenue of $120.81 million during the quarter, compared to the consensus estimate of $72.50 million. Univest Financial had a return on equity of 8.23% and a net margin of 14.91%. During the same period in the previous year, the company posted $0.61 EPS. As a group, equities research analysts forecast that Univest Financial Co. will post 2.31 earnings per share for the current year.

Univest Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 21st. Stockholders of record on Wednesday, August 7th were given a $0.21 dividend. The ex-dividend date of this dividend was Wednesday, August 7th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.95%. Univest Financial’s payout ratio is 35.15%.

Insider Activity at Univest Financial

In other news, CEO Jeffrey M. Schweitzer sold 1,200 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $28.50, for a total transaction of $34,200.00. Following the sale, the chief executive officer now directly owns 90,187 shares of the company’s stock, valued at approximately $2,570,329.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Univest Financial news, CEO Jeffrey M. Schweitzer sold 1,200 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $28.50, for a total transaction of $34,200.00. Following the completion of the sale, the chief executive officer now directly owns 90,187 shares in the company, valued at $2,570,329.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jeffrey M. Schweitzer sold 2,773 shares of Univest Financial stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $28.56, for a total value of $79,196.88. Following the completion of the transaction, the chief executive officer now owns 90,187 shares in the company, valued at approximately $2,575,740.72. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 14,389 shares of company stock worth $412,352. Company insiders own 2.10% of the company’s stock.

Univest Financial Profile

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.