Today, California Public Employees Retirement System sells partial stakes of Univest Corp. of Pennsylvania (UVSP)

Today, California Public Employees Retirement System sells partial stakes of Univest Corp. of Pennsylvania (UVSP)

California Public Employees Retirement System reduced its stake in Univest Corp. of Pennsylvania (NASDAQ:UVSP) by 1.2% during the second quarter, Holdings Channel reports. The institutional investor owned 48,200 shares of the financial services provider’s stock after selling 600 shares during the period. California Public Employees Retirement System owned approximately 0.25% of Univest Corp. of Pennsylvania worth $1,013,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Bank of Montreal Can purchased a new position in shares of Univest Corp. of Pennsylvania during the second quarter valued at about $195,000. Virginia Retirement System purchased a new position in shares of Univest Corp. of Pennsylvania during the first quarter valued at about $324,000. Los Angeles Capital Management & Equity Research Inc. raised its position in shares of Univest Corp. of Pennsylvania by 102.3% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 23,855 shares of the financial services provider’s stock valued at $465,000 after buying an additional 12,065 shares in the last quarter. Monarch Partners Asset Management LLC raised its position in shares of Univest Corp. of Pennsylvania by 23.1% in the second quarter. Monarch Partners Asset Management LLC now owns 30,120 shares of the financial services provider’s stock valued at $633,000 after buying an additional 5,650 shares in the last quarter. Finally, Swiss National Bank raised its position in shares of Univest Corp. of Pennsylvania by 23.3% in the second quarter. Swiss National Bank now owns 40,678 shares of the financial services provider’s stock valued at $855,000 after buying an additional 7,700 shares in the last quarter. 38.36% of the stock is owned by hedge funds and other institutional investors.

Univest Corp. of Pennsylvania (NASDAQ:UVSP) remained flat at $23.50 on Tuesday. 3,993 shares of the company were exchanged. The firm’s 50 day moving average is $23.38 and its 200-day moving average is $21.29. Univest Corp. of Pennsylvania has a 1-year low of $18.43 and a 1-year high of $23.80. The firm has a market capitalization of $624.04 million, a P/E ratio of 16.89 and a beta of 0.76.

Univest Corp. of Pennsylvania (NASDAQ:UVSP) last announced its earnings results on Wednesday, July 27th. The financial services provider reported $0.27 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.35 by $0.08. Univest Corp. of Pennsylvania had a net margin of 17.33% and a return on equity of 7.69%. On average, analysts expect that Univest Corp. of Pennsylvania will post $1.54 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Monday, October 3rd. Shareholders of record on Wednesday, September 7th were given a dividend of $0.20 per share. The ex-dividend date was Friday, September 2nd. This represents a $0.80 annualized dividend and a dividend yield of 3.40%. Univest Corp. of Pennsylvania’s dividend payout ratio (DPR) is presently 57.14%.

Separately, Piper Jaffray Cos. assumed coverage on Univest Corp. of Pennsylvania in a research report on Thursday, July 14th. They issued an “overweight” rating and a $24.00 target price for the company.

About Univest Corp. of Pennsylvania

Univest Corporation of Pennsylvania is a bank holding company. The Company owns all of the capital stock of Univest Bank and Trust Co (the Bank). The Bank is a Pennsylvania state-chartered bank and trust company. The Bank is engaged in the general commercial banking business and provides a range of banking and trust services to its customers.

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