Allspring Global Investments Holdings LLC lessened its holdings in Univest Financial Co. (NASDAQ:UVSP – Free Report) by 54.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 151,289 shares of the financial services provider’s stock after selling 180,568 shares during the period. Allspring Global Investments Holdings LLC owned about 0.51% of Univest Financial worth $2,735,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds have also recently modified their holdings of the business. Wedge Capital Management L L P NC purchased a new position in shares of Univest Financial in the 2nd quarter valued at about $973,000. Brandywine Global Investment Management LLC increased its stake in shares of Univest Financial by 28.1% in the 1st quarter. Brandywine Global Investment Management LLC now owns 71,728 shares of the financial services provider’s stock valued at $1,703,000 after purchasing an additional 15,747 shares in the last quarter. Ameriprise Financial Inc. boosted its holdings in Univest Financial by 55.6% in the 1st quarter. Ameriprise Financial Inc. now owns 215,280 shares of the financial services provider’s stock worth $5,111,000 after buying an additional 76,942 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in Univest Financial by 260.6% in the 1st quarter. JPMorgan Chase & Co. now owns 126,699 shares of the financial services provider’s stock worth $3,008,000 after buying an additional 91,564 shares during the last quarter. Finally, Susquehanna International Group LLP acquired a new stake in Univest Financial in the 1st quarter worth about $703,000. Hedge funds and other institutional investors own 73.34% of the company’s stock.
Wall Street Analyst Weigh In
UVSP has been the topic of several research analyst reports. TheStreet cut Univest Financial from a “b-” rating to a “c+” rating in a report on Thursday, September 7th. StockNews.com initiated coverage on Univest Financial in a report on Thursday. They issued a “hold” rating on the stock. Finally, Keefe, Bruyette & Woods cut Univest Financial from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $24.00 to $20.00 in a report on Thursday.
Univest Financial Trading Down 1.1 %
Shares of Univest Financial stock opened at $17.25 on Friday. The stock has a market cap of $508.37 million, a P/E ratio of 6.16 and a beta of 0.89. The stock’s 50 day simple moving average is $18.11 and its 200-day simple moving average is $19.22. Univest Financial Co. has a 1-year low of $16.11 and a 1-year high of $29.06. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.00 and a quick ratio of 1.00.
Univest Financial (NASDAQ:UVSP – Get Free Report) last issued its earnings results on Wednesday, July 26th. The financial services provider reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.02. The business had revenue of $74.16 million for the quarter, compared to analysts’ expectations of $75.91 million. Univest Financial had a return on equity of 10.66% and a net margin of 20.85%. Analysts predict that Univest Financial Co. will post 2.33 EPS for the current fiscal year.
Univest Financial Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Wednesday, August 23rd. Stockholders of record on Wednesday, August 9th were issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 4.87%. The ex-dividend date was Tuesday, August 8th. Univest Financial’s dividend payout ratio is currently 30.00%.
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 Pennsylvania. 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.
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