Univest Financial (NASDAQ:UVSP) Announces Quarterly Earnings Results

Univest Financial (NASDAQ:UVSP) released its quarterly earnings results on Wednesday. The financial services provider reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.07, Yahoo Finance reports. Univest Financial had a return on equity of 8.23% and a net margin of 14.91%. The firm had revenue of $126.59 million during the quarter, compared to the consensus estimate of $74.11 million. During the same quarter in the prior year, the firm posted $0.58 EPS.

Univest Financial Stock Performance

Shares of Univest Financial stock traded down $0.51 during trading on Friday, hitting $27.77. 37,521 shares of the stock were exchanged, compared to its average volume of 101,562. Univest Financial has a 1-year low of $16.10 and a 1-year high of $29.49. The stock has a market capitalization of $812.88 million, a price-to-earnings ratio of 11.77 and a beta of 0.85. The company has a fifty day moving average price of $27.66 and a 200-day moving average price of $24.51. The company has a current ratio of 1.02, a quick ratio of 1.01 and a debt-to-equity ratio of 0.17.

Univest Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Wednesday, November 6th will be given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.02%. The ex-dividend date is Wednesday, November 6th. Univest Financial’s dividend payout ratio (DPR) is presently 35.15%.

Insider Buying and Selling

In other Univest Financial news, COO Michael S. Keim sold 3,633 shares of the company’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $28.76, for a total value of $104,485.08. Following the sale, the chief operating officer now owns 55,679 shares in the company, valued at $1,601,328.04. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, CEO Jeffrey M. Schweitzer sold 4,541 shares of Univest Financial stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $28.75, for a total transaction of $130,553.75. Following the completion of the sale, the chief executive officer now owns 90,187 shares of the company’s stock, valued at approximately $2,592,876.25. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Michael S. Keim sold 3,633 shares of the stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $28.76, for a total transaction of $104,485.08. Following the completion of the transaction, the chief operating officer now directly owns 55,679 shares in the company, valued at approximately $1,601,328.04. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 14,389 shares of company stock worth $412,352. Company insiders own 2.10% of the company’s stock.

Wall Street Analysts Forecast Growth

UVSP has been the topic of several recent research reports. Piper Sandler lifted their price target on shares of Univest Financial from $24.00 to $27.00 and gave the company a “neutral” rating in a research note on Friday. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $29.00 target price (up previously from $23.00) on shares of Univest Financial in a report on Friday, July 26th.

Univest Financial Company Profile

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.