Univest Financial (NASDAQ:UVSP) Announces Quarterly Earnings Results

Univest Financial (NASDAQ:UVSP) posted its quarterly earnings data on Wednesday. The financial services provider reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.56 by $0.07, Yahoo Finance reports. Univest Financial had a net margin of 14.91% and a return on equity of 8.23%. 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 previous year, the firm posted $0.58 EPS.

Univest Financial Price Performance

UVSP traded down $0.56 during trading on Friday, hitting $27.72. 35,066 shares of the stock traded hands, compared to its average volume of 101,542. The business has a 50 day moving average price of $27.66 and a 200 day moving average price of $24.51. The company has a market cap of $811.42 million, a price-to-earnings ratio of 11.77 and a beta of 0.85. Univest Financial has a twelve month low of $16.10 and a twelve month high of $29.49. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.02 and a quick ratio of 1.01.

Univest Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 20th. Investors of record on Wednesday, November 6th will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Wednesday, November 6th. This represents a $0.84 annualized dividend and a dividend yield of 3.03%. Univest Financial’s dividend payout ratio is 35.15%.

Insider Activity

In related news, CEO Jeffrey M. Schweitzer sold 2,773 shares of the company’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $28.56, for a total transaction of $79,196.88. Following the completion of the sale, the chief executive officer now directly owns 90,187 shares in the company, valued at $2,575,740.72. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO Jeffrey M. Schweitzer sold 1,200 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $28.50, for a total transaction of $34,200.00. Following the completion of the transaction, the chief executive officer now directly owns 90,187 shares in the company, valued at approximately $2,570,329.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jeffrey M. Schweitzer sold 2,773 shares of the stock in a transaction on Monday, August 26th. The shares were sold at an average price of $28.56, for a total value of $79,196.88. Following the completion of the transaction, the chief executive officer now owns 90,187 shares of the company’s stock, valued at $2,575,740.72. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 14,389 shares of company stock worth $412,352. Insiders own 2.10% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.