Assenagon Asset Management S.A. Raises Stock Position in Univest Financial Co. (NASDAQ:UVSP)

Assenagon Asset Management S.A. raised its stake in shares of Univest Financial Co. (NASDAQ:UVSP) by 5.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 145,009 shares of the financial services provider’s stock after buying an additional 7,099 shares during the period. Assenagon Asset Management S.A. owned about 0.50% of Univest Financial worth $3,311,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. International Assets Investment Management LLC grew its holdings in shares of Univest Financial by 2,103.8% in the fourth quarter. International Assets Investment Management LLC now owns 1,146 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 1,094 shares during the period. Lindbrook Capital LLC lifted its stake in shares of Univest Financial by 1,787.7% in the 4th quarter. Lindbrook Capital LLC now owns 1,227 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 1,162 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in shares of Univest Financial by 27.1% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 5,597 shares of the financial services provider’s stock worth $123,000 after purchasing an additional 1,194 shares during the period. Parallel Advisors LLC grew its position in Univest Financial by 307.7% during the fourth quarter. Parallel Advisors LLC now owns 2,271 shares of the financial services provider’s stock valued at $50,000 after buying an additional 1,714 shares during the period. Finally, BNP Paribas Financial Markets increased its holdings in Univest Financial by 10.7% during the first quarter. BNP Paribas Financial Markets now owns 19,713 shares of the financial services provider’s stock valued at $410,000 after buying an additional 1,909 shares during the last quarter. 75.07% of the stock is owned by institutional investors.

Univest Financial Stock Performance

Shares of NASDAQ UVSP opened at $26.99 on Tuesday. The firm has a fifty day moving average price of $24.50 and a 200-day moving average price of $21.96. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.02 and a quick ratio of 1.01. The stock has a market cap of $787.30 million, a PE ratio of 11.29 and a beta of 0.86. Univest Financial Co. has a 1 year low of $16.10 and a 1 year high of $29.49.

Univest Financial (NASDAQ:UVSP) last announced its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $0.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.10. The firm had revenue of $120.81 million during the quarter, compared to analysts’ expectations of $72.50 million. Univest Financial had a net margin of 14.91% and a return on equity of 8.23%. During the same period in the prior year, the company posted $0.61 earnings per share. Equities analysts anticipate that Univest Financial Co. will post 2.21 earnings per share for the current fiscal year.

Univest Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 21st. Stockholders of record on Wednesday, August 7th will be paid a $0.21 dividend. The ex-dividend date of this dividend is Wednesday, August 7th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.11%. Univest Financial’s dividend payout ratio (DPR) is presently 35.15%.

Wall Street Analyst Weigh In

A number of analysts have commented on UVSP shares. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $29.00 target price (up from $23.00) on shares of Univest Financial in a report on Friday, July 26th. Piper Sandler upped their target price on shares of Univest Financial from $20.00 to $24.00 and gave the company a “neutral” rating in a report on Friday, July 26th.

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.