Univest Financial Co. (NASDAQ:UVSP) Shares Sold by Pzena Investment Management LLC

Pzena Investment Management LLC reduced its holdings in Univest Financial Co. (NASDAQ:UVSP) by 6.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,189,748 shares of the financial services provider’s stock after selling 78,502 shares during the quarter. Pzena Investment Management LLC owned 4.10% of Univest Financial worth $33,480,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Capital Performance Advisors LLP acquired a new stake in Univest Financial in the third quarter worth approximately $25,000. Innealta Capital LLC acquired a new position in Univest Financial in the 2nd quarter worth about $28,000. International Assets Investment Management LLC increased its holdings in Univest Financial by 2,713.5% in the third quarter. International Assets Investment Management LLC now owns 1,463 shares of the financial services provider’s stock worth $41,000 after buying an additional 1,411 shares during the last quarter. CWM LLC raised its holdings in shares of Univest Financial by 212.7% during the 2nd quarter. CWM LLC now owns 3,731 shares of the financial services provider’s stock valued at $85,000 after purchasing an additional 2,538 shares in the last quarter. Finally, Comerica Bank lifted its position in shares of Univest Financial by 11,533.8% in the first quarter. Comerica Bank now owns 8,609 shares of the financial services provider’s stock worth $179,000 after buying an additional 8,535 shares during the last quarter. 75.07% of the stock is currently owned by institutional investors.

Univest Financial Price Performance

Shares of UVSP stock traded down $0.47 during trading hours on Wednesday, reaching $30.24. 29,946 shares of the company were exchanged, compared to its average volume of 103,771. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.02 and a quick ratio of 1.02. The stock’s fifty day moving average is $28.44 and its two-hundred day moving average is $25.82. Univest Financial Co. has a fifty-two week low of $18.17 and a fifty-two week high of $32.24. The company has a market cap of $878.17 million, a price-to-earnings ratio of 12.33 and a beta of 0.85.

Univest Financial (NASDAQ:UVSP) last announced its quarterly earnings data on Wednesday, October 23rd. The financial services provider reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.56 by $0.07. Univest Financial had a net margin of 14.90% and a return on equity of 8.24%. The firm had revenue of $126.59 million for the quarter, compared to analysts’ expectations of $74.11 million. During the same period last year, the firm earned $0.58 earnings per share. Sell-side analysts forecast that Univest Financial Co. will post 2.35 earnings per share for the current fiscal year.

Univest Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Shareholders of record on Wednesday, November 6th will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 2.78%. The ex-dividend date of this dividend is Wednesday, November 6th. Univest Financial’s payout ratio is presently 33.73%.

Analyst Upgrades and Downgrades

UVSP has been the subject of several research reports. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $29.00 price objective (up from $23.00) on shares of Univest Financial in a research report on Friday, July 26th. Piper Sandler lifted their price objective on Univest Financial from $24.00 to $27.00 and gave the company a “neutral” rating in a report on Friday, October 25th.

Insiders Place Their Bets

In related news, CEO Jeffrey M. Schweitzer sold 4,541 shares of the stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $28.75, for a total transaction of $130,553.75. Following the completion of the sale, the chief executive officer now directly owns 90,187 shares of the company’s stock, valued at approximately $2,592,876.25. This represents a 4.79 % decrease in their position. The transaction 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 the firm’s stock in a transaction 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 sale, the chief operating officer now owns 55,679 shares in the company, valued at approximately $1,601,328.04. The trade was a 6.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 14,389 shares of company stock worth $412,352. Company insiders own 2.09% of the company’s stock.

Univest Financial 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.