Univest Corporation of Pennsylvania (NASDAQ:UVSP) Hits New 52-Week High – Still a Buy?

Univest Corporation of Pennsylvania (NASDAQ:UVSP) shares reached a new 52-week high on Friday . The company traded as high as $37.85 and last traded at $38.00, with a volume of 22825 shares trading hands. The stock had previously closed at $36.62.

Wall Street Analyst Weigh In

UVSP has been the topic of a number of analyst reports. Keefe, Bruyette & Woods lifted their target price on shares of Univest Corporation of Pennsylvania from $34.00 to $36.00 and gave the company a “market perform” rating in a research note on Tuesday, February 3rd. Weiss Ratings restated a “buy (b)” rating on shares of Univest Corporation of Pennsylvania in a research note on Friday, March 27th. One research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $35.00.

Univest Corporation of Pennsylvania Stock Performance

The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.32. The business’s 50 day moving average is $34.60 and its two-hundred day moving average is $32.92. The company has a market cap of $1.06 billion, a PE ratio of 11.97 and a beta of 0.61.

Univest Corporation of Pennsylvania (NASDAQ:UVSP) last released its earnings results on Thursday, January 29th. The financial services provider reported $0.79 earnings per share for the quarter, beating analysts’ consensus estimates of $0.78 by $0.01. Univest Corporation of Pennsylvania had a net margin of 17.51% and a return on equity of 9.82%. The company had revenue of $84.57 million for the quarter, compared to analysts’ expectations of $82.54 million. On average, equities research analysts anticipate that Univest Corporation of Pennsylvania will post 2.36 EPS for the current year.

Univest Corporation of Pennsylvania Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 25th. Shareholders of record on Wednesday, February 11th were paid a $0.22 dividend. The ex-dividend date was Wednesday, February 11th. This represents a $0.88 annualized dividend and a yield of 2.3%. Univest Corporation of Pennsylvania’s payout ratio is presently 28.03%.

Institutional Trading of Univest Corporation of Pennsylvania

Several hedge funds have recently bought and sold shares of UVSP. The Manufacturers Life Insurance Company lifted its stake in Univest Corporation of Pennsylvania by 15.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,475,872 shares of the financial services provider’s stock worth $44,335,000 after purchasing an additional 193,561 shares in the last quarter. UNIVEST FINANCIAL Corp lifted its stake in Univest Corporation of Pennsylvania by 22.2% in the 4th quarter. UNIVEST FINANCIAL Corp now owns 617,526 shares of the financial services provider’s stock worth $20,218,000 after purchasing an additional 112,203 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in Univest Corporation of Pennsylvania by 38.0% in the 4th quarter. Goldman Sachs Group Inc. now owns 379,679 shares of the financial services provider’s stock worth $12,431,000 after purchasing an additional 104,516 shares in the last quarter. SG Americas Securities LLC lifted its stake in Univest Corporation of Pennsylvania by 359.9% in the 1st quarter. SG Americas Securities LLC now owns 99,155 shares of the financial services provider’s stock worth $3,397,000 after purchasing an additional 77,594 shares in the last quarter. Finally, Jane Street Group LLC purchased a new stake in Univest Corporation of Pennsylvania in the 1st quarter worth $1,467,000. Hedge funds and other institutional investors own 75.07% of the company’s stock.

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.