Univest Financial (NASDAQ:UVSP) Price Target Raised to $24.00

Univest Financial (NASDAQ:UVSP) had its price target increased by Piper Sandler from $20.00 to $24.00 in a report published on Friday morning, Benzinga reports. Piper Sandler currently has a neutral rating on the financial services provider’s stock.

Separately, Keefe, Bruyette & Woods restated 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.

Univest Financial Stock Performance

Shares of UVSP opened at $28.35 on Friday. The stock has a market capitalization of $829.80 million, a price-to-earnings ratio of 11.86 and a beta of 0.86. Univest Financial has a 12 month low of $16.10 and a 12 month high of $29.49. The firm has a fifty day simple moving average of $23.03 and a 200 day simple moving average of $21.34. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.18.

Univest Financial (NASDAQ:UVSP) last posted its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $0.61 EPS for the quarter, topping analysts’ consensus estimates 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 net margin of 14.91% and a return on equity of 8.29%. During the same period in the prior year, the business posted $0.61 EPS. Research analysts forecast that Univest Financial will post 2.21 EPS for the current fiscal year.

Univest Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 21st. Stockholders of record on Wednesday, August 7th will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Wednesday, August 7th. This represents a $0.84 annualized dividend and a dividend yield of 2.96%. Univest Financial’s dividend payout ratio is presently 35.15%.

Insider Activity at Univest Financial

In other Univest Financial news, CEO Jeffrey M. Schweitzer sold 9,000 shares of the business’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $22.55, for a total transaction of $202,950.00. Following the transaction, the chief executive officer now owns 90,187 shares of the company’s stock, valued at $2,033,716.85. The sale was disclosed in a document filed with the SEC, which is available through this link. 2.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in UVSP. International Assets Investment Management LLC boosted its position in Univest Financial by 2,103.8% during the fourth quarter. International Assets Investment Management LLC now owns 1,146 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 1,094 shares during the period. Lindbrook Capital LLC boosted its holdings in shares of Univest Financial by 1,787.7% during the 4th quarter. Lindbrook Capital LLC now owns 1,227 shares of the financial services provider’s stock worth $27,000 after buying an additional 1,162 shares during the period. Innealta Capital LLC acquired a new position in Univest Financial in the 2nd quarter valued at about $28,000. Parallel Advisors LLC raised its holdings in Univest Financial by 307.7% in the 4th quarter. Parallel Advisors LLC now owns 2,271 shares of the financial services provider’s stock valued at $50,000 after acquiring an additional 1,714 shares during the period. Finally, Signaturefd LLC lifted its position in Univest Financial by 212.8% during the fourth quarter. Signaturefd LLC now owns 2,853 shares of the financial services provider’s stock worth $63,000 after acquiring an additional 1,941 shares during the last quarter. 75.07% of the stock is owned by institutional investors and hedge funds.

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.