Trade Report: The Virginia Retirement Systems ET AL Acquires New Position in Univest Corp. of Pennsylvania (UVSP)

The Virginia Retirement Systems ET AL Acquires New Position in Univest Corp. of Pennsylvania (UVSP)

Virginia Retirement Systems ET AL acquired a new position in Univest Corp. of Pennsylvania (NASDAQ:UVSP) during the second quarter, according to its most recent 13F filing with the SEC. The fund acquired 16,500 shares of the financial services provider’s stock, valued at approximately $347,000. Virginia Retirement Systems ET AL owned about 0.08% of Univest Corp. of Pennsylvania at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Kennedy Capital Management Inc. boosted its stake in shares of Univest Corp. of Pennsylvania by 12.9% in the first quarter. Kennedy Capital Management Inc. now owns 297,778 shares of the financial services provider’s stock worth $5,810,000 after buying an additional 34,039 shares during the period. Geode Capital Management LLC boosted its stake in shares of Univest Corp. of Pennsylvania by 2.1% in the first quarter. Geode Capital Management LLC now owns 133,613 shares of the financial services provider’s stock worth $2,606,000 after buying an additional 2,769 shares during the period. Bank of Montreal Can purchased a new stake in shares of Univest Corp. of Pennsylvania during the second quarter worth about $195,000. Monarch Partners Asset Management LLC boosted its stake 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 worth $633,000 after buying an additional 5,650 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in shares of Univest Corp. of Pennsylvania by 2.4% in the second quarter. Bank of New York Mellon Corp now owns 115,872 shares of the financial services provider’s stock worth $2,436,000 after buying an additional 2,681 shares during the period. 38.30% of the stock is owned by hedge funds and other institutional investors.

Univest Corp. of Pennsylvania (NASDAQ:UVSP) opened at 23.62 on Friday. Univest Corp. of Pennsylvania has a 1-year low of $18.43 and a 1-year high of $23.79. The stock has a market capitalization of $627.23 million, a PE ratio of 16.98 and a beta of 0.76. The company’s 50-day moving average is $23.20 and its 200 day moving average is $21.09.

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

The business 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. This represents a $0.80 annualized dividend and a yield of 3.39%. The ex-dividend date of this dividend was Friday, September 2nd. Univest Corp. of Pennsylvania’s dividend payout ratio is presently 57.14%.

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

Univest Corp. of Pennsylvania Company Profile

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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