Univest Financial (NASDAQ:UVSP) Sees Strong Trading Volume

Univest Financial Co. (NASDAQ:UVSP) saw strong trading volume on Friday . 63,011 shares changed hands during mid-day trading, a decline of 39% from the previous session’s volume of 103,151 shares.The stock last traded at $28.95 and had previously closed at $29.19.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on UVSP shares. Piper Sandler upped their price target on shares of Univest Financial from $20.00 to $24.00 and gave the company a “neutral” rating in a research note on Friday, July 26th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $29.00 price target (up previously from $23.00) on shares of Univest Financial in a report on Friday, July 26th.

Univest Financial Price Performance

The company has a market capitalization of $843.30 million, a PE ratio of 12.21 and a beta of 0.85. 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 firm’s 50 day simple moving average is $27.18 and its 200 day simple moving average is $23.20.

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, topping 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 net margin of 14.91% and a return on equity of 8.23%. During the same quarter last year, the firm earned $0.61 earnings per share. As a group, research analysts anticipate that Univest Financial Co. will post 2.31 EPS for the current fiscal year.

Univest Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 21st. Stockholders of record on Wednesday, August 7th were issued a dividend of $0.21 per share. The ex-dividend date was Wednesday, August 7th. This represents a $0.84 annualized dividend and a dividend yield of 2.91%. Univest Financial’s dividend payout ratio is presently 35.15%.

Insider Transactions at Univest Financial

In other news, CEO Jeffrey M. Schweitzer sold 4,541 shares of the stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $28.75, for a total value of $130,553.75. Following the transaction, the chief executive officer now directly owns 90,187 shares of the company’s stock, valued at $2,592,876.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, COO Michael S. Keim sold 3,633 shares of Univest Financial stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $28.76, for a total value of $104,485.08. Following the completion of the transaction, the chief operating officer now owns 55,679 shares in the company, valued at approximately $1,601,328.04. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Jeffrey M. Schweitzer sold 4,541 shares of the company’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $28.75, for a total value of $130,553.75. Following the transaction, the chief executive officer now directly owns 90,187 shares of the company’s stock, valued at $2,592,876.25. The disclosure for this sale can be found here. Insiders sold 14,389 shares of company stock valued at $412,352 in the last quarter. 2.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Univest Financial

A number of large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in shares of Univest Financial by 1.2% in the first quarter. Vanguard Group Inc. now owns 1,571,213 shares of the financial services provider’s stock worth $32,713,000 after acquiring an additional 19,307 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of Univest Financial by 1.0% in the second quarter. The Manufacturers Life Insurance Company now owns 1,210,351 shares of the financial services provider’s stock worth $27,632,000 after buying an additional 12,401 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in Univest Financial by 8.9% during the fourth quarter. The Manufacturers Life Insurance Company now owns 1,197,934 shares of the financial services provider’s stock worth $26,390,000 after acquiring an additional 98,009 shares during the last quarter. American Century Companies Inc. grew its stake in Univest Financial by 21.0% during the 2nd quarter. American Century Companies Inc. now owns 482,089 shares of the financial services provider’s stock valued at $11,006,000 after acquiring an additional 83,599 shares in the last quarter. Finally, Leeward Investments LLC MA raised its holdings in 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 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.