Univest Corporation of Pennsylvania (NASDAQ:UVSP) Shares Cross Above 200 Day Moving Average – Here’s Why

Univest Corporation of Pennsylvania (NASDAQ:UVSP)’s share price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $31.10 and traded as high as $33.42. Univest Corporation of Pennsylvania shares last traded at $33.31, with a volume of 159,636 shares traded.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Zacks Research raised shares of Univest Corporation of Pennsylvania to a “hold” rating in a research note on Thursday, December 4th. Piper Sandler assumed coverage on Univest Corporation of Pennsylvania in a report on Wednesday, December 3rd. They set a “neutral” rating and a $34.00 price target on the stock. Keefe, Bruyette & Woods upped their price target on Univest Corporation of Pennsylvania from $33.00 to $34.00 and gave the company a “market perform” rating in a research report on Friday, October 24th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Univest Corporation of Pennsylvania in a research report on Monday, December 29th. One research analyst has rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $33.00.

Univest Corporation of Pennsylvania Trading Up 2.1%

The company has a debt-to-equity ratio of 0.14, a current ratio of 1.02 and a quick ratio of 1.02. The stock’s 50 day moving average is $32.29 and its 200-day moving average is $31.10. The company has a market capitalization of $948.67 million, a P/E ratio of 11.10 and a beta of 0.67.

Univest Corporation of Pennsylvania (NASDAQ:UVSP) last posted its earnings results on Tuesday, February 8th. The financial services provider reported $0.52 earnings per share for the quarter. The firm had revenue of $62.30 million for the quarter. Univest Corporation of Pennsylvania had a return on equity of 9.55% and a net margin of 16.94%. As a group, equities research analysts anticipate that Univest Corporation of Pennsylvania will post 2.36 earnings per share for the current year.

Univest Corporation of Pennsylvania Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 19th. Shareholders 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 yield of 2.6%. Univest Corporation of Pennsylvania’s dividend payout ratio is 29.33%.

Institutional Trading of Univest Corporation of Pennsylvania

A number of hedge funds and other institutional investors have recently modified their holdings of UVSP. State of Alaska Department of Revenue bought a new position in shares of Univest Corporation of Pennsylvania in the 3rd quarter worth about $34,000. Russell Investments Group Ltd. purchased a new stake in Univest Corporation of Pennsylvania in the second quarter worth about $42,000. Geneos Wealth Management Inc. increased its stake in shares of Univest Corporation of Pennsylvania by 545.3% during the first quarter. Geneos Wealth Management Inc. now owns 2,665 shares of the financial services provider’s stock valued at $76,000 after purchasing an additional 2,252 shares in the last quarter. Osaic Holdings Inc. bought a new position in shares of Univest Corporation of Pennsylvania during the second quarter valued at approximately $91,000. Finally, Tower Research Capital LLC TRC lifted its holdings in shares of Univest Corporation of Pennsylvania by 69.6% during 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 purchasing an additional 1,324 shares during the last quarter. 75.07% of the stock is owned by hedge funds and other institutional investors.

About Univest Corporation of Pennsylvania

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.