Allspring Global Investments Holdings LLC Lowers Stock Holdings in Univest Financial Co. (NASDAQ:UVSP)

Allspring Global Investments Holdings LLC reduced its position in shares of Univest Financial Co. (NASDAQ:UVSP) by 54.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 151,289 shares of the financial services provider’s stock after selling 180,568 shares during the period. Allspring Global Investments Holdings LLC owned about 0.51% of Univest Financial worth $2,735,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Captrust Financial Advisors boosted its position in shares of Univest Financial by 38.3% during the second quarter. Captrust Financial Advisors now owns 1,525 shares of the financial services provider’s stock worth $39,000 after buying an additional 422 shares during the period. Bessemer Group Inc. purchased a new position in shares of Univest Financial during the first quarter worth $63,000. Advisor Group Holdings Inc. boosted its position in shares of Univest Financial by 333.3% during the first quarter. Advisor Group Holdings Inc. now owns 3,900 shares of the financial services provider’s stock worth $104,000 after buying an additional 3,000 shares during the period. UBS Group AG boosted its position in shares of Univest Financial by 22.0% during the third quarter. UBS Group AG now owns 5,996 shares of the financial services provider’s stock worth $141,000 after buying an additional 1,081 shares during the period. Finally, Keeley Teton Advisors LLC purchased a new position in shares of Univest Financial during the first quarter worth $206,000. 73.34% of the stock is currently owned by hedge funds and other institutional investors.

Univest Financial Stock Up 4.5 %

Univest Financial stock opened at $18.32 on Monday. The stock’s fifty day moving average is $17.31 and its two-hundred day moving average is $18.35. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.01 and a quick ratio of 1.00. Univest Financial Co. has a 1-year low of $16.10 and a 1-year high of $29.06. The stock has a market cap of $539.89 million, a PE ratio of 6.86 and a beta of 0.90.

Univest Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 22nd. Stockholders of record on Wednesday, November 8th will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 4.59%. The ex-dividend date of this dividend is Tuesday, November 7th. Univest Financial’s dividend payout ratio (DPR) is currently 31.46%.

Analyst Ratings Changes

UVSP has been the topic of several analyst reports. Piper Sandler reduced their price objective on Univest Financial from $18.00 to $17.00 and set a “neutral” rating on the stock in a research note on Friday, October 27th. TheStreet cut Univest Financial from a “b-” rating to a “c+” rating in a research note on Thursday, September 7th. Keefe, Bruyette & Woods cut Univest Financial from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $24.00 to $20.00 in a research note on Thursday, October 5th. Finally, StockNews.com initiated coverage on Univest Financial in a research note on Thursday, October 5th. They issued a “hold” rating on the stock. Four equities research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $22.50.

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 Pennsylvania. 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.