Univest Financial (NASDAQ:UVSP) Posts Quarterly Earnings Results, Beats Estimates By $0.07 EPS

Univest Financial (NASDAQ:UVSP - Get Free Report) issued its quarterly earnings data on Wednesday. The financial services provider reported $0.63 earnings per share for the quarter, beating analysts' consensus estimates of $0.56 by $0.07, Yahoo Finance reports. The company had revenue of $126.59 million during the quarter, compared to analysts' expectations of $74.11 million. Univest Financial had a return on equity of 8.23% and a net margin of 14.91%. During the same quarter in the previous year, the business earned $0.58 earnings per share.

Univest Financial Price Performance

Univest Financial stock traded down $0.41 during mid-day trading on Friday, hitting $27.87. 87,492 shares of the company were exchanged, compared to its average volume of 101,803. The business's 50 day simple moving average is $27.66 and its two-hundred day simple moving average is $24.51. Univest Financial has a 12-month low of $16.10 and a 12-month high of $29.49. The company has a market capitalization of $815.81 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 current ratio of 1.02 and a quick ratio of 1.01.

Univest Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 20th. Investors of record on Wednesday, November 6th will be given a dividend of $0.21 per share. The ex-dividend date is Wednesday, November 6th. This represents a $0.84 annualized dividend and a dividend yield of 3.01%. Univest Financial's dividend payout ratio is currently 35.15%.

Insider Buying and Selling at Univest Financial

In other news, COO Michael S. Keim sold 3,633 shares of Univest Financial stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $28.76, for a total transaction of $104,485.08. Following the completion of the sale, the chief operating officer now directly owns 55,679 shares in the company, valued at $1,601,328.04. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CEO Jeffrey M. Schweitzer sold 4,541 shares of the stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $28.75, for a total transaction of $130,553.75. Following the transaction, the chief executive officer now directly owns 90,187 shares in the company, valued at approximately $2,592,876.25. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, COO Michael S. Keim sold 3,633 shares of the firm's stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $28.76, for a total value of $104,485.08. Following the completion of the sale, the chief operating officer now directly owns 55,679 shares in the company, valued at approximately $1,601,328.04. 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 ninety days, insiders have sold 14,389 shares of company stock worth $412,352. Corporate insiders own 2.10% of the company's stock.

Wall Street Analyst Weigh In

UVSP has been the subject of a number of recent research reports. Keefe, Bruyette & Woods reiterated a "market perform" rating and set a $29.00 price target (up previously from $23.00) on shares of Univest Financial in a research note on Friday, July 26th. Piper Sandler increased their target price on shares of Univest Financial from $24.00 to $27.00 and gave the stock a "neutral" rating in a research note on Friday.

Univest Financial Company 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.