Wedge Capital Management L L P NC Raises Holdings in Univest Financial Co. (NASDAQ:UVSP)

Wedge Capital Management L L P NC lifted its position in Univest Financial Co. (NASDAQ:UVSP) by 15.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 26,797 shares of the financial services provider’s stock after purchasing an additional 3,558 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Univest Financial were worth $760,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in UVSP. Bailard Inc. grew its holdings in Univest Financial by 1.6% during the 4th quarter. Bailard Inc. now owns 21,132 shares of the financial services provider’s stock valued at $624,000 after buying an additional 332 shares in the last quarter. Legal & General Group Plc boosted its position in shares of Univest Financial by 1.9% during the 4th quarter. Legal & General Group Plc now owns 28,530 shares of the financial services provider’s stock valued at $842,000 after acquiring an additional 528 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Univest Financial by 3.9% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,468 shares of the financial services provider’s stock valued at $486,000 after acquiring an additional 614 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of Univest Financial by 14.8% in the fourth quarter. PNC Financial Services Group Inc. now owns 4,796 shares of the financial services provider’s stock valued at $142,000 after purchasing an additional 617 shares in the last quarter. Finally, Tower Research Capital LLC TRC increased its position in Univest Financial by 161.2% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,003 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 619 shares during the last quarter. 75.07% of the stock is currently owned by hedge funds and other institutional investors.

Univest Financial Price Performance

Univest Financial stock opened at $29.96 on Thursday. Univest Financial Co. has a 52-week low of $20.76 and a 52-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 fifty day moving average is $28.97 and its 200 day moving average is $29.60. The company has a market cap of $865.24 million, a price-to-earnings ratio of 11.57 and a beta of 0.74.

Univest Financial (NASDAQ:UVSP) last posted its earnings results on Wednesday, April 23rd. The financial services provider reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.13. The firm had revenue of $79.20 million for the quarter, compared to the consensus estimate of $77.65 million. Univest Financial had a net margin of 15.17% and a return on equity of 8.51%. Sell-side analysts forecast that Univest Financial Co. will post 2.36 EPS for the current fiscal year.

Univest Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 21st. Investors of record on Wednesday, May 7th were given a $0.22 dividend. The ex-dividend date was Wednesday, May 7th. This represents a $0.88 annualized dividend and a yield of 2.94%. This is a positive change from Univest Financial’s previous quarterly dividend of $0.21. Univest Financial’s dividend payout ratio (DPR) is currently 32.96%.

Insiders Place Their Bets

In other news, Director Anne Vazquez bought 1,250 shares of Univest Financial stock in a transaction dated Wednesday, March 19th. The shares were acquired at an average price of $28.63 per share, with a total value of $35,787.50. Following the completion of the purchase, the director now owns 6,250 shares in the company, valued at $178,937.50. The trade was a 25.00% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.70% of the stock is currently owned by insiders.

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.