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

Univest Financial (NASDAQ:UVSP) released its earnings results on Wednesday. The financial services provider reported $0.63 earnings per share 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 business had revenue of $126.59 million during the quarter, compared to the consensus estimate of $74.11 million. During the same quarter last year, the firm earned $0.58 earnings per share.

Univest Financial Stock Performance

NASDAQ:UVSP traded down $0.56 during mid-day trading on Friday, hitting $27.72. The stock had a trading volume of 35,066 shares, compared to its average volume of 101,542. 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 quick ratio of 1.01 and a current ratio of 1.02. The stock has a market cap of $811.42 million, a price-to-earnings ratio of 11.77 and a beta of 0.85. The company’s 50 day simple moving average is $27.66 and its 200 day simple moving average is $24.51.

Univest Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Wednesday, November 6th will be paid 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 presently 35.15%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $29.00 price objective (up previously from $23.00) on shares of Univest Financial in a report on Friday, July 26th. Piper Sandler raised their price target on Univest Financial from $24.00 to $27.00 and gave the company a “neutral” rating in a research note on Friday.

Insiders Place Their Bets

In other news, CEO Jeffrey M. Schweitzer sold 2,773 shares of the firm’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 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 trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, CEO Jeffrey M. Schweitzer sold 2,773 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $28.56, for a total value of $79,196.88. Following the transaction, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Michael S. Keim sold 3,633 shares of Univest Financial stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $28.76, for a total transaction of $104,485.08. Following the sale, the chief operating officer now directly owns 55,679 shares of the company’s stock, valued at $1,601,328.04. The trade was a 0.00 % decrease in their position. 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 90 days. 2.10% of the stock is currently owned by 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.