Piper Sandler Increases Univest Financial (NASDAQ:UVSP) Price Target to $24.00

Univest Financial (NASDAQ:UVSP) had its target price raised by analysts at Piper Sandler from $20.00 to $24.00 in a note issued to investors on Friday, Benzinga reports. The brokerage currently has a “neutral” rating on the financial services provider’s stock. Piper Sandler’s price objective indicates a potential downside of 17.53% from the company’s previous close.

Separately, Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $29.00 price objective (up previously from $23.00) on shares of Univest Financial in a research report on Friday.

Univest Financial Price Performance

Shares of UVSP traded up $0.93 during mid-day trading on Friday, hitting $29.10. The company’s stock had a trading volume of 3,705 shares, compared to its average volume of 102,327. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.18. The firm has a 50-day simple moving average of $22.80 and a 200 day simple moving average of $21.22. The firm has a market capitalization of $851.76 million, a P/E ratio of 11.98 and a beta of 0.86. Univest Financial has a 1-year low of $16.10 and a 1-year high of $29.49.

Univest Financial (NASDAQ:UVSP) last released its quarterly 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 the consensus estimate of $72.50 million. Univest Financial had a return on equity of 8.29% and a net margin of 14.91%. During the same quarter last year, the business posted $0.61 earnings per share. Analysts predict that Univest Financial will post 2.11 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Jeffrey M. Schweitzer sold 9,000 shares of the business’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $22.55, for a total value of $202,950.00. Following the transaction, the chief executive officer now owns 90,187 shares in the company, valued at $2,033,716.85. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 2.10% of the company’s stock.

Institutional Trading of Univest Financial

Several institutional investors and hedge funds have recently bought and sold shares of the company. Sei Investments Co. grew its holdings in shares of Univest Financial by 28.3% during the first quarter. Sei Investments Co. now owns 118,994 shares of the financial services provider’s stock valued at $2,478,000 after purchasing an additional 26,234 shares during the last quarter. Boston Partners grew its holdings in shares of Univest Financial by 4.7% during the fourth quarter. Boston Partners now owns 439,664 shares of the financial services provider’s stock valued at $9,589,000 after purchasing an additional 19,707 shares during the last quarter. Signaturefd LLC grew its holdings in shares of Univest Financial by 212.8% during the fourth quarter. Signaturefd LLC now owns 2,853 shares of the financial services provider’s stock valued at $63,000 after purchasing an additional 1,941 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Univest Financial by 8.9% during the fourth quarter. The Manufacturers Life Insurance Company now owns 1,197,934 shares of the financial services provider’s stock valued at $26,390,000 after purchasing an additional 98,009 shares during the last quarter. Finally, Lindbrook Capital LLC grew its holdings in shares of Univest Financial by 1,787.7% during the fourth quarter. Lindbrook Capital LLC now owns 1,227 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 1,162 shares during the last quarter. Institutional investors and hedge funds own 75.07% of the company’s stock.

About Univest Financial

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.