Univest Financial (NASDAQ:UVSP) Posts Earnings Results, Beats Expectations By $0.10 EPS

Univest Financial (NASDAQ:UVSP) posted its earnings results on Wednesday. The financial services provider reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.10, Zacks reports. The business had revenue of $120.81 million during the quarter, compared to the consensus estimate of $72.50 million. Univest Financial had a return on equity of 8.29% and a net margin of 14.91%. During the same period in the previous year, the business earned $0.61 EPS.

Univest Financial Stock Performance

Shares of UVSP stock traded up $0.65 during midday trading on Friday, hitting $28.82. The company had a trading volume of 77,224 shares, compared to its average volume of 102,835. The stock has a market cap of $843.56 million, a price-to-earnings ratio of 12.07 and a beta of 0.86. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.01 and a quick ratio of 1.01. The company’s 50 day simple moving average is $22.91 and its 200 day simple moving average is $21.27. Univest Financial has a 52-week low of $16.10 and a 52-week high of $29.49.

Univest Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 21st. Shareholders of record on Wednesday, August 7th will be paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 2.91%. The ex-dividend date is Wednesday, August 7th. Univest Financial’s dividend payout ratio is presently 35.15%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $29.00 price objective (up previously from $23.00) on shares of Univest Financial in a research note on Friday. Piper Sandler upped their price target on shares of Univest Financial from $20.00 to $24.00 and gave the company a “neutral” rating in a research report on Friday.

Insider Transactions at Univest Financial

In related news, CEO Jeffrey M. Schweitzer sold 9,000 shares of Univest Financial stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $22.55, for a total value of $202,950.00. Following the transaction, the chief executive officer now directly owns 90,187 shares in the company, valued at approximately $2,033,716.85. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 2.10% of the company’s stock.

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.