Univest Financial (NASDAQ:UVSP) Shares Cross Above 200-Day Moving Average – Here’s Why

Shares of Univest Financial Co. (NASDAQ:UVSP) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $27.95 and traded as high as $29.49. Univest Financial shares last traded at $28.97, with a volume of 71,490 shares changing hands.

Analyst Upgrades and Downgrades

Separately, Piper Sandler raised their price objective on shares of 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

The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.17. The stock has a 50-day moving average price of $30.57 and a 200 day moving average price of $27.95. The stock has a market capitalization of $841.38 million, a price-to-earnings ratio of 11.63 and a beta of 0.89.

Univest Financial (NASDAQ:UVSP) last issued its quarterly earnings data on Wednesday, October 23rd. The financial services provider reported $0.63 EPS for the quarter, beating the consensus estimate of $0.56 by $0.07. The company had revenue of $126.59 million for the quarter, compared to analyst estimates of $74.11 million. Univest Financial had a return on equity of 8.24% and a net margin of 14.90%. During the same period last year, the company earned $0.58 earnings per share. As a group, equities research analysts expect that Univest Financial Co. will post 2.43 earnings per share for the current year.

Univest Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 20th. Investors of record on Wednesday, November 6th were issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 2.90%. The ex-dividend date of this dividend was Wednesday, November 6th. Univest Financial’s payout ratio is presently 33.73%.

Hedge Funds Weigh In On Univest Financial

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Barclays PLC raised its position in shares of Univest Financial by 91.3% during the 3rd quarter. Barclays PLC now owns 66,603 shares of the financial services provider’s stock worth $1,875,000 after purchasing an additional 31,783 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Univest Financial by 3.5% during the third quarter. Geode Capital Management LLC now owns 704,445 shares of the financial services provider’s stock valued at $19,826,000 after acquiring an additional 23,770 shares during the last quarter. Martingale Asset Management L P lifted its position in shares of 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 acquiring an additional 26,473 shares in the last quarter. Jane Street Group LLC increased its position in shares of Univest Financial by 75.8% during the third quarter. Jane Street Group LLC now owns 48,782 shares of the financial services provider’s stock worth $1,373,000 after purchasing an additional 21,030 shares in the last quarter. Finally, International Assets Investment Management LLC raised its stake in Univest Financial by 2,713.5% in the 3rd quarter. International Assets Investment Management LLC now owns 1,463 shares of the financial services provider’s stock valued at $41,000 after purchasing an additional 1,411 shares during the last quarter. 75.07% of the stock is owned by hedge funds and other institutional investors.

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.