Univest Financial Co. (NASDAQ:UVSP) Announces $0.21 Quarterly Dividend

Univest Financial Co. (NASDAQ:UVSP) declared a quarterly dividend on Wednesday, October 23rd, Zacks reports. Stockholders of record on Wednesday, November 6th will be paid a dividend of 0.21 per share by the financial services provider on Wednesday, November 20th. This represents a $0.84 annualized dividend and a dividend yield of 2.97%. The ex-dividend date is Wednesday, November 6th.

Univest Financial has increased its dividend payment by an average of 11.9% annually over the last three years. Univest Financial has a payout ratio of 38.2% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Univest Financial to earn $2.32 per share next year, which means the company should continue to be able to cover its $0.84 annual dividend with an expected future payout ratio of 36.2%.

Univest Financial Price Performance

Shares of NASDAQ:UVSP opened at $28.28 on Friday. Univest Financial has a 12 month low of $16.10 and a 12 month high of $29.49. The firm has a market capitalization of $827.81 million, a P/E ratio of 11.83 and a beta of 0.85. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.02 and a quick ratio of 1.01. The company’s fifty day moving average price is $27.66 and its 200 day moving average price is $24.51.

Univest Financial (NASDAQ:UVSP) last posted its earnings results 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 business had revenue of $120.81 million for the quarter, compared to analysts’ expectations of $72.50 million. Univest Financial had a return on equity of 8.23% and a net margin of 14.91%. During the same quarter in the previous year, the firm earned $0.61 earnings per share. As a group, sell-side analysts predict that Univest Financial will post 2.31 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Univest Financial news, COO Michael S. Keim sold 3,633 shares of the company’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 transaction 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 represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Jeffrey M. Schweitzer sold 1,200 shares of Univest Financial stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $28.50, for a total value of $34,200.00. Following the transaction, the chief executive officer now directly owns 90,187 shares in the company, valued at $2,570,329.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Michael S. Keim sold 3,633 shares of the business’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $28.76, for a total transaction of $104,485.08. Following the completion of the transaction, the chief operating officer now directly owns 55,679 shares in the company, valued at $1,601,328.04. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 14,389 shares of company stock valued at $412,352 over the last quarter. 2.10% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

UVSP has been the topic of several research analyst reports. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $29.00 price target (up previously from $23.00) on shares of Univest Financial in a research report on Friday, July 26th. Piper Sandler lifted their target price on shares of Univest Financial from $20.00 to $24.00 and gave the company a “neutral” rating in a report on Friday, July 26th.

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.