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

Univest Financial (NASDAQ:UVSP) issued its quarterly earnings data on Wednesday. The financial services provider reported $0.63 earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $126.59 million during the quarter, compared to analysts’ expectations of $74.11 million. During the same quarter in the previous year, the company earned $0.58 EPS.

Univest Financial Price Performance

NASDAQ UVSP traded down $0.51 on Friday, hitting $27.77. 37,521 shares of the company’s stock were exchanged, compared to its average volume of 101,562. Univest Financial has a 52 week low of $16.10 and a 52 week high of $29.49. The stock has a 50-day moving average of $27.66 and a 200-day moving average of $24.51. 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 stock has a market cap of $812.88 million, a price-to-earnings ratio of 11.77 and a beta of 0.85.

Univest Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 20th. Investors of record on Wednesday, November 6th will be paid a $0.21 dividend. 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 3.02%. Univest Financial’s dividend payout ratio (DPR) is 35.15%.

Insiders Place Their Bets

In other Univest Financial news, CEO Jeffrey M. Schweitzer sold 1,200 shares of the business’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 sale, the chief executive officer now owns 90,187 shares of the company’s stock, valued at approximately $2,570,329.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CEO Jeffrey M. Schweitzer sold 1,200 shares of Univest Financial stock in a transaction that occurred 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 sale, 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 Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jeffrey M. Schweitzer sold 2,773 shares of the business’s stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 90,187 shares in the company, 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. Over the last 90 days, insiders sold 14,389 shares of company stock valued at $412,352. 2.10% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

UVSP has been the topic of a number of analyst reports. Piper Sandler increased their price target on Univest Financial from $24.00 to $27.00 and gave the stock a “neutral” rating in a research report on Friday. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $29.00 target price (up from $23.00) on shares of Univest Financial 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.