Strs Ohio reduced its position in shares of Univest Financial Co. (NASDAQ: UVSP – Get a rating) by 4.7% in the first quarter, Participation channel reports. The fund held 28,700 shares of the financial services provider after selling 1,400 shares during the period. Strs Ohio’s holdings in Univest Financial were worth $768,000 when it was last filed with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds have also recently bought and sold shares of UVSP. Russell Investments Group Ltd. acquired a new position in Univest Financial during the 4th quarter with a value of $1,044,000. Trust Co. of Vermont acquired a new position in Univest Financial during Q4 worth $210,000. Bernardo Wealth Planning LLC increased its position in Univest Financial by 21.4% during the 4th quarter. Bernardo Wealth Planning LLC now owns 13,112 shares of the financial services provider worth $392,000 after acquiring 2,313 additional shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new position in Univest Financial during Q4 worth $8,772,000. Finally, Assenagon Asset Management SA acquired a new position in Univest Financial during the 4th quarter for a value of $2,857,000. Institutional investors and hedge funds own 72.15% of the company’s shares.
Analyst upgrades and downgrades
A number of research analysts have weighed in on UVSP shares. Raymond James cut his price target on Univest Financial shares from $31.00 to $29.00 and set an “outperform” rating for the company in a Thursday, July 7 research report. StockNews.com began covering Univest Financial shares in a research report on Thursday, March 31. They set a “holding” rating for the company.
Univest Financial Stock up 3.4%
Shares of UVSP opened at $25.56 on Friday. The company has a 50-day simple moving average of $25.61 and a 200-day simple moving average of $27.46. The company has a market capitalization of $756.40 million, a P/E ratio of 9.46 and a beta of 0.94. The company has a debt ratio of 0.13, a quick ratio of 0.99 and a current ratio of 1.00. Univest Financial Co. has a 52-week low of $24.40 and a 52-week high of $31.93.
Univest Financial (NASDAQ: UVSP – Get a rating) last reported quarterly earnings data on Wednesday, April 27. The financial services provider reported EPS of $0.68 for the quarter, beating consensus analyst estimates of $0.59 by $0.09. The company posted revenue of $67.13 million in the quarter, compared to analyst estimates of $66.57 million. Univest Financial posted a net margin of 27.43% and a return on equity of 10.45%. In the same quarter a year earlier, the company had earned earnings per share of $1.11. On average, equity research analysts expect Univest Financial Co. to post earnings per share of 2.66 for the current year.
Univest Financial increases its dividend
The company also recently announced a quarterly dividend, which was paid on Wednesday, May 25. Investors of record on Wednesday, May 11 received a dividend of $0.21. The ex-dividend date was Tuesday, May 10. This represents a dividend of $0.84 on an annualized basis and a yield of 3.29%. This is a boost from Univest Financial’s previous quarterly dividend of $0.20. Univest Financial’s payout ratio is currently 31.23%.
Univest Financial Company Profile
Univest Financial Corporation operates as a bank holding company for Univest Bank and Trust Co which provides banking products and services primarily in Pennsylvania. It operates through three segments: Banking, Wealth Management and Insurance. The Banking segment provides a range of banking services, such as taking deposits, making and servicing loans, mortgage banking services, other general banking services and equipment rental financing services for individuals , businesses, municipalities and non-profit organizations.
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