Stephens Reaffirms Equal Weight Rating for Univest Financial (NASDAQ:UVSP)

Univest Financial (NASDAQ:UVSP)‘s stock had its “equal weight” rating reiterated by research analysts at Stephens in a research note issued to investors on Thursday,Benzinga reports. They presently have a $31.00 target price on the financial services provider’s stock. Stephens’ price target suggests a potential upside of 5.80% from the stock’s previous close.

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

Univest Financial Stock Down 2.2 %

Shares of NASDAQ:UVSP traded down $0.65 on Thursday, reaching $29.30. The company had a trading volume of 22,692 shares, compared to its average volume of 76,347. Univest Financial has a 52-week low of $18.41 and a 52-week high of $32.75. The firm’s 50 day simple moving average is $30.42 and its 200-day simple moving average is $28.49. The firm has a market capitalization of $850.87 million, a PE ratio of 11.82 and a beta of 0.89. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.17.

Univest Financial (NASDAQ:UVSP) last issued its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $0.65 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.08. Univest Financial had a return on equity of 8.24% and a net margin of 14.90%. As a group, analysts expect that Univest Financial will post 2.43 earnings per share for the current fiscal year.

Institutional Trading of Univest Financial

Hedge funds have recently modified their holdings of the stock. The Manufacturers Life Insurance Company grew its holdings in shares of Univest Financial by 1.0% during the second quarter. The Manufacturers Life Insurance Company now owns 1,210,351 shares of the financial services provider’s stock worth $27,632,000 after purchasing an additional 12,401 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Univest Financial by 3.5% during the 3rd quarter. Geode Capital Management LLC now owns 704,445 shares of the financial services provider’s stock worth $19,826,000 after acquiring an additional 23,770 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake in Univest Financial by 57.5% in the 3rd quarter. Assenagon Asset Management S.A. now owns 228,321 shares of the financial services provider’s stock valued at $6,425,000 after buying an additional 83,312 shares in the last quarter. Sei Investments Co. increased its holdings in shares of Univest Financial by 19.0% during the 2nd quarter. Sei Investments Co. now owns 141,638 shares of the financial services provider’s stock worth $3,233,000 after buying an additional 22,644 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in shares of Univest Financial by 64.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 103,531 shares of the financial services provider’s stock worth $2,913,000 after buying an additional 40,545 shares during the last quarter. 75.07% of the stock is currently owned by institutional investors and hedge funds.

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.