Univest Financial (NASDAQ:UVSP) Price Target Raised to $27.00 at Piper Sandler

Univest Financial (NASDAQ:UVSP) had its price target lifted by analysts at Piper Sandler from $24.00 to $27.00 in a research report issued on Friday, Benzinga reports. The brokerage presently has a “neutral” rating on the financial services provider’s stock. Piper Sandler’s price target suggests a potential downside of 4.05% from the stock’s current price.

Separately, Keefe, Bruyette & Woods reissued 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, July 26th.

Univest Financial Trading Down 0.5 %

Shares of Univest Financial stock traded down $0.14 on Friday, reaching $28.14. 15,851 shares of the company’s stock were exchanged, compared to its average volume of 101,457. The firm’s 50-day moving average is $27.66 and its two-hundred day moving average is $24.51. The company has a market capitalization of $823.71 million, a P/E ratio of 11.77 and a beta of 0.85. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.01 and a current ratio of 1.02. Univest Financial has a 52 week low of $16.10 and a 52 week high of $29.49.

Univest Financial (NASDAQ:UVSP) last posted its quarterly earnings results on Wednesday, October 23rd. The financial services provider reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.07. The business had revenue of $126.59 million during the quarter, compared to analysts’ expectations of $74.11 million. Univest Financial had a net margin of 14.91% and a return on equity of 8.23%. During the same period last year, the company posted $0.58 earnings per share. Sell-side analysts predict that Univest Financial will post 2.31 EPS for the current fiscal year.

Insider Activity at Univest Financial

In other Univest Financial news, CEO Jeffrey M. Schweitzer sold 2,773 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The stock was 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 of the company’s stock, valued at approximately $2,575,740.72. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CEO Jeffrey M. Schweitzer sold 1,200 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $28.50, for a total transaction of $34,200.00. Following the transaction, the chief executive officer now directly owns 90,187 shares of the company’s stock, valued at $2,570,329.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Jeffrey M. Schweitzer sold 2,773 shares of the company’s stock in a transaction dated Monday, August 26th. The stock was 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 of the company’s stock, valued at $2,575,740.72. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 14,389 shares of company stock valued at $412,352. 2.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Univest Financial

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