State Street Corp Trims Stock Holdings in Univest Financial Co. (NASDAQ:UVSP)

State Street Corp lowered its stake in Univest Financial Co. (NASDAQ:UVSP) by 2.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 873,371 shares of the financial services provider’s stock after selling 18,070 shares during the quarter. State Street Corp’s holdings in Univest Financial were worth $24,577,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the stock. American Century Companies Inc. raised its stake in shares of Univest Financial by 21.0% in the 2nd quarter. American Century Companies Inc. now owns 482,089 shares of the financial services provider’s stock valued at $11,006,000 after acquiring an additional 83,599 shares during the period. Assenagon Asset Management S.A. raised its position in Univest Financial by 57.5% in 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 purchasing an additional 83,312 shares during the period. Martingale Asset Management L P raised its position in Univest Financial by 58.8% in the third quarter. Martingale Asset Management L P now owns 71,530 shares of the financial services provider’s stock valued at $2,013,000 after purchasing an additional 26,473 shares during the period. Sei Investments Co. lifted its stake in Univest Financial by 19.0% during the second quarter. Sei Investments Co. now owns 141,638 shares of the financial services provider’s stock worth $3,233,000 after purchasing an additional 22,644 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Univest Financial during the third quarter worth $417,000. Hedge funds and other institutional investors own 75.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler increased their target price on Univest Financial from $24.00 to $27.00 and gave the stock a “neutral” rating in a research note on Friday, October 25th.

Univest Financial Price Performance

Shares of UVSP opened at $29.78 on Monday. The company has a market cap of $864.90 million, a P/E ratio of 11.96 and a beta of 0.88. Univest Financial Co. has a fifty-two week low of $18.41 and a fifty-two week high of $32.75. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.17. The firm’s 50 day moving average price is $30.23 and its 200 day moving average price is $27.31.

Univest Financial (NASDAQ:UVSP) last posted its quarterly earnings data on Wednesday, October 23rd. The financial services provider reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.07. Univest Financial had a return on equity of 8.24% and a net margin of 14.90%. The business had revenue of $126.59 million for the quarter, compared to analyst estimates of $74.11 million. During the same quarter in the prior year, the company earned $0.58 earnings per share. On average, research analysts forecast that Univest Financial Co. will post 2.43 earnings per share for the current fiscal year.

Univest Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 20th. Stockholders of record on Wednesday, November 6th were given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.82%. The ex-dividend date of this dividend was Wednesday, November 6th. Univest Financial’s dividend payout ratio is presently 33.73%.

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.