Assenagon Asset Management S.A. Makes New Investment in Univest Corporation of Pennsylvania $UVSP

Assenagon Asset Management S.A. purchased a new position in Univest Corporation of Pennsylvania (NASDAQ:UVSP) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 30,251 shares of the financial services provider’s stock, valued at approximately $908,000. Assenagon Asset Management S.A. owned 0.11% of Univest Corporation of Pennsylvania at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Russell Investments Group Ltd. purchased a new position in shares of Univest Corporation of Pennsylvania during the 2nd quarter valued at $42,000. Geneos Wealth Management Inc. increased its stake in Univest Corporation of Pennsylvania by 545.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 2,665 shares of the financial services provider’s stock worth $76,000 after buying an additional 2,252 shares in the last quarter. Osaic Holdings Inc. bought a new stake in Univest Corporation of Pennsylvania during the second quarter valued at about $91,000. Tower Research Capital LLC TRC lifted its position in shares of Univest Corporation of Pennsylvania by 69.6% in the second quarter. Tower Research Capital LLC TRC now owns 3,225 shares of the financial services provider’s stock valued at $97,000 after acquiring an additional 1,324 shares in the last quarter. Finally, Police & Firemen s Retirement System of New Jersey lifted its position in shares of Univest Corporation of Pennsylvania by 14.7% in the second quarter. Police & Firemen s Retirement System of New Jersey now owns 6,958 shares of the financial services provider’s stock valued at $209,000 after acquiring an additional 892 shares in the last quarter. 75.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

UVSP has been the subject of several research analyst reports. Keefe, Bruyette & Woods increased their target price on Univest Corporation of Pennsylvania from $33.00 to $34.00 and gave the stock a “market perform” rating in a research report on Friday, October 24th. Zacks Research upgraded Univest Corporation of Pennsylvania to a “hold” rating in a research note on Thursday, December 4th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Univest Corporation of Pennsylvania in a report on Monday. Finally, Piper Sandler initiated coverage on shares of Univest Corporation of Pennsylvania in a research note on Wednesday, December 3rd. They set a “neutral” rating and a $34.00 target price for the company. One analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $33.00.

Univest Corporation of Pennsylvania Stock Performance

Univest Corporation of Pennsylvania stock opened at $33.56 on Thursday. The company’s 50-day moving average price is $31.56 and its 200-day moving average price is $30.83. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.14. The company has a market cap of $955.65 million, a PE ratio of 11.19 and a beta of 0.70. Univest Corporation of Pennsylvania has a twelve month low of $22.83 and a twelve month high of $35.65.

Univest Corporation of Pennsylvania (NASDAQ:UVSP) last announced its quarterly earnings results on Tuesday, February 8th. The financial services provider reported $0.52 EPS for the quarter. Univest Corporation of Pennsylvania had a net margin of 16.94% and a return on equity of 9.55%. The firm had revenue of $62.30 million during the quarter. On average, equities research analysts forecast that Univest Corporation of Pennsylvania will post 2.36 EPS for the current fiscal year.

Univest Corporation of Pennsylvania Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 19th. Stockholders of record on Wednesday, November 5th were issued a $0.22 dividend. The ex-dividend date was Wednesday, November 5th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.6%. Univest Corporation of Pennsylvania’s payout ratio is 29.33%.

Univest Corporation of Pennsylvania Company Profile

Univest Corporation of Pennsylvania is a financial holding company headquartered in Souderton, Pennsylvania, operating through its primary subsidiary, Univest Bank and Trust Co The company offers a comprehensive range of banking services, including commercial and consumer lending, deposit products, mortgage banking, treasury and payment solutions, and wealth management services. Through its community banking model, Univest serves individuals, small to middle-market businesses, and nonprofit and public institutions.

Founded in 1893 as Souderton Industrial Savings Association, Univest has grown through a combination of organic expansion and targeted acquisitions.