Univest Corporation of Pennsylvania (NASDAQ:UVSP) Downgraded to “Sell” at BidaskClub

BidaskClub downgraded shares of Univest Corporation of Pennsylvania (NASDAQ:UVSP) from a hold rating to a sell rating in a research report sent to investors on Wednesday.

A number of other research analysts have also recently commented on UVSP. Sandler O’Neill started coverage on Univest Corporation of Pennsylvania in a research note on Wednesday, April 12th. They set a buy rating on the stock. ValuEngine upgraded Univest Corporation of Pennsylvania from a hold rating to a buy rating in a research note on Friday, June 2nd.

Shares of Univest Corporation of Pennsylvania (NASDAQ:UVSP) traded down 0.50% during midday trading on Wednesday, reaching $30.00. The company’s stock had a trading volume of 47,648 shares. The company has a market capitalization of $799.83 million, a P/E ratio of 32.33 and a beta of 0.69. Univest Corporation of Pennsylvania has a one year low of $19.97 and a one year high of $31.50. The stock’s 50-day moving average is $29.52 and its 200-day moving average is $28.51.

Univest Corporation of Pennsylvania (NASDAQ:UVSP) last released its quarterly earnings results on Wednesday, April 26th. The financial services provider reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $0.42 by $0.01. Univest Corporation of Pennsylvania had a return on equity of 7.31% and a net margin of 11.75%. The firm had revenue of $49.25 million for the quarter. On average, equities analysts expect that Univest Corporation of Pennsylvania will post $1.73 earnings per share for the current fiscal year.

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The business also recently disclosed a quarterly dividend, which was paid on Monday, July 3rd. Stockholders of record on Wednesday, June 7th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 2.65%. The ex-dividend date of this dividend was Monday, June 5th. Univest Corporation of Pennsylvania’s payout ratio is currently 85.11%.

In other news, Director Michael L. Turner sold 2,000 shares of the stock in a transaction on Tuesday, June 13th. The stock was sold at an average price of $29.80, for a total value of $59,600.00. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 3.62% of the stock is currently owned by company insiders.

Several hedge funds have recently made changes to their positions in UVSP. Goldman Sachs Group Inc. boosted its stake in shares of Univest Corporation of Pennsylvania by 15.1% in the first quarter. Goldman Sachs Group Inc. now owns 13,428 shares of the financial services provider’s stock valued at $348,000 after buying an additional 1,761 shares during the last quarter. Credit Suisse AG boosted its stake in shares of Univest Corporation of Pennsylvania by 1.3% in the first quarter. Credit Suisse AG now owns 44,823 shares of the financial services provider’s stock valued at $1,161,000 after buying an additional 595 shares during the last quarter. AQR Capital Management LLC boosted its stake in shares of Univest Corporation of Pennsylvania by 141.0% in the first quarter. AQR Capital Management LLC now owns 39,094 shares of the financial services provider’s stock valued at $1,012,000 after buying an additional 22,873 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its stake in shares of Univest Corporation of Pennsylvania by 6.1% in the first quarter. Schwab Charles Investment Management Inc. now owns 101,595 shares of the financial services provider’s stock valued at $2,632,000 after buying an additional 5,814 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its stake in shares of Univest Corporation of Pennsylvania by 20.7% in the first quarter. Renaissance Technologies LLC now owns 497,569 shares of the financial services provider’s stock valued at $12,887,000 after buying an additional 85,480 shares during the last quarter. Institutional investors and hedge funds own 61.66% of the company’s stock.

Univest Corporation of Pennsylvania Company Profile

Univest Corporation of Pennsylvania is the bank holding company of Univest Bank and Trust Co (the Bank). The Bank is a Pennsylvania state-chartered bank and trust company. The Company’s business segments include Banking, Wealth Management and Insurance. The Banking segment provides financial services, such as deposit taking, loan origination and servicing, mortgage banking, other general banking services and equipment lease financing.

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