Univest Financial (NASDAQ:UVSP) Issues Earnings Results, Beats Estimates By $0.07 EPS

Univest Financial (NASDAQ:UVSP) released its quarterly earnings results on Wednesday. The financial services provider reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.56 by $0.07, Yahoo Finance reports. The firm had revenue of $126.59 million for the quarter, compared to the consensus estimate of $74.11 million. Univest Financial had a return on equity of 8.23% and a net margin of 14.91%. During the same quarter last year, the business posted $0.58 EPS.

Univest Financial Price Performance

Shares of UVSP traded down $0.56 during mid-day trading on Friday, hitting $27.72. The company’s stock had a trading volume of 35,006 shares, compared to its average volume of 101,550. 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 firm has a 50-day simple moving average of $27.66 and a 200 day simple moving average of $24.51. The firm has a market capitalization of $811.42 million, a P/E ratio of 11.77 and a beta of 0.85. Univest Financial has a 1-year low of $16.10 and a 1-year high of $29.49.

Univest Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 20th. Shareholders 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 dividend on an annualized basis and a yield of 3.03%. Univest Financial’s payout ratio is 35.15%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on UVSP. Keefe, Bruyette & Woods restated a “market perform” rating and set a $29.00 price target (up previously from $23.00) on shares of Univest Financial in a research note on Friday, July 26th. Piper Sandler increased their price objective on Univest Financial from $24.00 to $27.00 and gave the stock a “neutral” rating in a research report on Friday.

Insider Activity

In other news, COO Michael S. Keim sold 3,633 shares of the firm’s stock in a transaction that occurred 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 sale, the chief operating officer now directly owns 55,679 shares of the company’s stock, valued at $1,601,328.04. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, COO Michael S. Keim sold 3,633 shares of the firm’s stock in a transaction that occurred 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 sale, the chief operating officer now directly owns 55,679 shares of the company’s stock, valued at $1,601,328.04. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jeffrey M. Schweitzer sold 2,773 shares of the firm’s stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 90,187 shares of the company’s stock, valued at $2,575,740.72. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 14,389 shares of company stock valued at $412,352 in the last three months. 2.10% of the stock is currently owned by company insiders.

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.