Univest Financial (NASDAQ:UVSP) Shares Gap Up – Still a Buy?

Univest Financial Co. (NASDAQ:UVSP)’s share price gapped up prior to trading on Tuesday . The stock had previously closed at $27.08, but opened at $27.91. Univest Financial shares last traded at $27.22, with a volume of 2,662 shares changing hands.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Keefe, Bruyette & Woods restated a “market perform” rating and set a $29.00 target price (up from $23.00) on shares of Univest Financial in a research report on Friday, July 26th. Piper Sandler upped their target price on shares of Univest Financial from $20.00 to $24.00 and gave the stock a “neutral” rating in a research report on Friday, July 26th.

Univest Financial Stock Performance

The firm has a fifty day moving average of $27.62 and a 200-day moving average of $24.48. The company has a quick ratio of 1.01, a current ratio of 1.02 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $794.88 million, a price-to-earnings ratio of 11.17 and a beta of 0.85.

Univest Financial (NASDAQ:UVSP) last released its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $0.61 EPS for the quarter, topping the consensus estimate of $0.51 by $0.10. The business had revenue of $120.81 million for the quarter, compared to analyst estimates of $72.50 million. Univest Financial had a net margin of 14.91% and a return on equity of 8.23%. During the same period in the previous year, the firm earned $0.61 EPS. As a group, sell-side analysts anticipate that Univest Financial Co. will post 2.31 EPS for the current year.

Insider Activity

In related 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 value of $104,485.08. Following the sale, the chief operating officer now owns 55,679 shares of the company’s stock, valued at approximately $1,601,328.04. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Jeffrey M. Schweitzer sold 2,773 shares of Univest Financial stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $28.56, for a total transaction of $79,196.88. Following the completion of 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 sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Michael S. Keim sold 3,633 shares of the business’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $1,601,328.04. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 14,389 shares of company stock worth $412,352 over the last ninety days. 2.10% of the stock is currently owned by insiders.

Institutional Trading of Univest Financial

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of Univest Financial by 1.2% during the first quarter. Vanguard Group Inc. now owns 1,571,213 shares of the financial services provider’s stock worth $32,713,000 after purchasing an additional 19,307 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in Univest Financial by 1.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,210,351 shares of the financial services provider’s stock worth $27,632,000 after buying an additional 12,401 shares during the last quarter. American Century Companies Inc. grew its holdings in Univest Financial by 21.0% in the 2nd quarter. American Century Companies Inc. now owns 482,089 shares of the financial services provider’s stock valued at $11,006,000 after buying an additional 83,599 shares during the period. Leeward Investments LLC MA increased its stake in shares of Univest Financial by 5.6% during the 2nd quarter. Leeward Investments LLC MA now owns 404,942 shares of the financial services provider’s stock valued at $9,245,000 after acquiring an additional 21,550 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of Univest Financial by 57.5% during the 3rd quarter. Assenagon Asset Management S.A. now owns 228,321 shares of the financial services provider’s stock worth $6,425,000 after acquiring an additional 83,312 shares during the period. 75.07% of the stock is owned by hedge funds and other institutional investors.

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.