Univest Financial Co. (NASDAQ:UVSP) to Issue Quarterly Dividend of $0.21

Univest Financial Co. (NASDAQ:UVSP) announced a quarterly dividend on Wednesday, October 23rd, Zacks reports. Shareholders of record on Wednesday, November 6th will be given a dividend of 0.21 per share by the financial services provider on Wednesday, November 20th. This represents a $0.84 annualized dividend and a yield of 2.97%. The ex-dividend date of this dividend is Wednesday, November 6th.

Univest Financial has raised its dividend by an average of 11.9% annually over the last three years. Univest Financial has a dividend payout ratio of 38.2% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Univest Financial to earn $2.32 per share next year, which means the company should continue to be able to cover its $0.84 annual dividend with an expected future payout ratio of 36.2%.

Univest Financial Stock Performance

NASDAQ UVSP opened at $28.28 on Friday. The stock has a fifty day simple moving average of $27.66 and a 200-day simple moving average 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. The stock has a market cap of $827.81 million, a PE ratio of 11.83 and a beta of 0.85. Univest Financial has a twelve month low of $16.10 and a twelve month high of $29.49.

Univest Financial (NASDAQ:UVSP) last announced its earnings results on Wednesday, July 24th. The financial services provider reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.10. The company had revenue of $120.81 million during the quarter, compared to analyst estimates of $72.50 million. Univest Financial had a net margin of 14.91% and a return on equity of 8.23%. During the same quarter last year, the firm posted $0.61 earnings per share. Equities analysts anticipate that Univest Financial will post 2.31 earnings per share for the current year.

Insider Activity

In related news, COO Michael S. Keim sold 3,633 shares of the company’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $28.76, for a total transaction of $104,485.08. Following the sale, the chief operating officer now directly owns 55,679 shares of the company’s stock, valued at $1,601,328.04. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, COO Michael S. Keim sold 3,633 shares of Univest Financial stock in a transaction 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 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 trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Jeffrey M. Schweitzer sold 2,773 shares of the company’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $28.56, for a total value of $79,196.88. Following the sale, the chief executive officer now owns 90,187 shares in the company, valued at approximately $2,575,740.72. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 14,389 shares of company stock valued at $412,352. 2.10% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several analysts recently weighed in on UVSP shares. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $29.00 target price (up previously from $23.00) on shares of Univest Financial in a report on Friday, July 26th. Piper Sandler lifted their price objective on Univest Financial from $20.00 to $24.00 and gave the company a “neutral” rating in a research note 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.