Assenagon Asset Management S.A. Sells 112,792 Shares of Univest Financial Co. (NASDAQ:UVSP)

Assenagon Asset Management S.A. reduced its stake in shares of Univest Financial Co. (NASDAQ:UVSP) by 49.4% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 115,529 shares of the financial services provider’s stock after selling 112,792 shares during the period. Assenagon Asset Management S.A. owned about 0.40% of Univest Financial worth $3,409,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in UVSP. Capital Performance Advisors LLP bought a new stake in Univest Financial during the 3rd quarter worth approximately $25,000. International Assets Investment Management LLC grew its holdings in shares of Univest Financial by 2,713.5% in the third quarter. International Assets Investment Management LLC now owns 1,463 shares of the financial services provider’s stock valued at $41,000 after acquiring an additional 1,411 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of Univest Financial in the third quarter valued at approximately $79,000. CWM LLC grew its holdings in shares of Univest Financial by 66.1% in the third quarter. CWM LLC now owns 6,196 shares of the financial services provider’s stock valued at $174,000 after acquiring an additional 2,465 shares in the last quarter. Finally, Centiva Capital LP bought a new position in shares of Univest Financial in the third quarter valued at approximately $209,000. 75.07% of the stock is owned by institutional investors.

Univest Financial Stock Performance

UVSP stock opened at $30.15 on Wednesday. The firm has a market cap of $875.56 million, a PE ratio of 12.11 and a beta of 0.89. 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 business has a 50 day moving average of $30.47 and a 200-day moving average of $28.42. Univest Financial Co. has a 12-month low of $18.41 and a 12-month high of $32.75.

Univest Financial (NASDAQ:UVSP) last posted 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. Univest Financial had a return on equity of 8.24% and a net margin of 14.90%. The business had revenue of $126.59 million for the quarter, compared to the consensus estimate of $74.11 million. During the same quarter in the prior year, the business earned $0.58 earnings per share. As a group, sell-side analysts expect that Univest Financial Co. will post 2.43 earnings per share for the current year.

Wall Street Analyst Weigh In

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

About Univest Financial

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.