Quest Partners LLC Cuts Stake in Univest Financial Co. (NASDAQ:UVSP)

Quest Partners LLC cut its stake in shares of Univest Financial Co. (NASDAQ:UVSP) by 53.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,636 shares of the financial services provider’s stock after selling 8,898 shares during the quarter. Quest Partners LLC’s holdings in Univest Financial were worth $174,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Victory Capital Management Inc. raised its holdings in Univest Financial by 14.1% in the fourth quarter. Victory Capital Management Inc. now owns 47,800 shares of the financial services provider’s stock worth $1,053,000 after buying an additional 5,907 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Univest Financial by 0.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 303,331 shares of the financial services provider’s stock worth $6,682,000 after acquiring an additional 2,784 shares during the last quarter. Quadrant Capital Group LLC lifted its position in Univest Financial by 82.9% in the 4th quarter. Quadrant Capital Group LLC now owns 9,062 shares of the financial services provider’s stock valued at $200,000 after acquiring an additional 4,108 shares in the last quarter. Parallel Advisors LLC increased its holdings in shares of Univest Financial by 307.7% in the 4th quarter. Parallel Advisors LLC now owns 2,271 shares of the financial services provider’s stock worth $50,000 after purchasing an additional 1,714 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in shares of Univest Financial by 8.9% during the fourth quarter. The Manufacturers Life Insurance Company now owns 1,197,934 shares of the financial services provider’s stock valued at $26,390,000 after purchasing an additional 98,009 shares in the last quarter. Hedge funds and other institutional investors own 75.07% of the company’s stock.

Insider Activity at Univest Financial

In other Univest Financial news, CEO Jeffrey M. Schweitzer sold 2,773 shares of the firm’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $28.56, for a total transaction of $79,196.88. Following the sale, the chief executive officer now directly owns 90,187 shares of the company’s stock, valued at $2,575,740.72. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Univest Financial news, CEO Jeffrey M. Schweitzer sold 2,773 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $28.56, for a total value of $79,196.88. Following the completion of the transaction, the chief executive officer now directly owns 90,187 shares in the company, valued at approximately $2,575,740.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jeffrey M. Schweitzer sold 1,200 shares of Univest Financial stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $28.50, for a total transaction of $34,200.00. Following the sale, the chief executive officer now owns 90,187 shares in the company, valued at approximately $2,570,329.50. The disclosure for this sale can be found here. In the last quarter, insiders have sold 6,215 shares of company stock worth $177,313. 2.10% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on UVSP shares. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $29.00 price target (up from $23.00) on shares of Univest Financial in a research note on Friday, July 26th. Piper Sandler boosted their price target on Univest Financial from $20.00 to $24.00 and gave the company a “neutral” rating in a research note on Friday, July 26th.

Univest Financial Price Performance

Shares of Univest Financial stock opened at $27.86 on Monday. The stock’s fifty day moving average is $26.74 and its 200 day moving average is $22.98. Univest Financial Co. has a one year low of $16.10 and a one year high of $29.49. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.01 and a current ratio of 1.02. The stock has a market cap of $812.68 million, a P/E ratio of 11.66 and a beta of 0.85.

Univest Financial (NASDAQ:UVSP) last posted its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.10. The firm had revenue of $120.81 million for the quarter, compared to analysts’ expectations of $72.50 million. Univest Financial had a return on equity of 8.23% and a net margin of 14.91%. During the same period in the previous year, the firm earned $0.61 EPS. Sell-side analysts anticipate that Univest Financial Co. will post 2.31 earnings per share for the current year.

Univest Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 21st. Stockholders of record on Wednesday, August 7th were paid a $0.21 dividend. The ex-dividend date was Wednesday, August 7th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.02%. Univest Financial’s dividend payout ratio (DPR) is presently 35.15%.

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.