Univest Financial (NASDAQ:UVSP) reported earnings on July 24, showing $0.61 earnings per share (EPS), surpassing the expected $0.51 by $0.10. They had a return on equity of 8.23% and a net margin of 14.91%. Revenue was $120.81 million, much higher than the anticipated $72.50 million. Analysts predict earnings of $2 EPS for this and the next fiscal year.
Stock Performance
UVSP stock opened at $28.19, with a market cap of $822.30 million. The company has a PE ratio of 11.55 and a low of $16.10 and a high of $29.49 in the past year.
Dividend Announcement
On August 21, a quarterly dividend of $0.21 per share was issued to stockholders. This results in an annual dividend of $0.84, providing a yield of 2.98% with a payout ratio of 34.43%.
Insider Activity
CEO Jeffrey M. Schweitzer sold 2,773 shares at $28.56 on August 26, retaining 90,187 shares valued at about $2.58 million. COO Michael S. Keim sold 3,633 shares on September 18 at $28.76, now owning 55,679 shares worth around $1.60 million. In total, insiders sold 14,389 shares recently, making up 2.10% of total stock ownership.
Analyst Ratings
Keefe, Bruyette & Woods maintained a “market perform” rating, increasing their price target to $29.00. Piper Sandler raised their target from $20.00 to $24.00, rating it as “neutral”.
Company Profile
Univest Financial Corporation operates Univest Bank and Trust Co, offering banking services across three segments: Banking, Wealth Management, and Insurance.
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