Keefe, Bruyette & Woods Reaffirms Market Perform Rating for Univest Financial (NASDAQ:UVSP)

Keefe, Bruyette & Woods restated their market perform rating on shares of Univest Financial (NASDAQ:UVSP) in a research note published on Friday, Benzinga reports. Keefe, Bruyette & Woods currently has a $23.00 price objective on the financial services provider’s stock, up from their previous price objective of $22.00.

Separately, Piper Sandler lifted their price target on Univest Financial from $18.00 to $19.00 and gave the company a neutral rating in a research note on Thursday, February 1st.

Univest Financial Stock Performance

UVSP opened at $21.34 on Friday. The business’s 50-day moving average price is $19.84 and its two-hundred day moving average price is $19.72. Univest Financial has a 1 year low of $16.10 and a 1 year high of $22.49. The company has a market capitalization of $630.17 million, a price-to-earnings ratio of 8.93 and a beta of 0.89. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.06 and a quick ratio of 1.06.

Univest Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 22nd. Shareholders of record on Wednesday, May 8th will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 3.94%. The ex-dividend date is Tuesday, May 7th. Univest Financial’s dividend payout ratio is 35.15%.

Hedge Funds Weigh In On Univest Financial

Several hedge funds have recently modified their holdings of UVSP. Raymond James & Associates grew its holdings in shares of Univest Financial by 7.9% in the 3rd quarter. Raymond James & Associates now owns 26,519 shares of the financial services provider’s stock valued at $461,000 after acquiring an additional 1,942 shares in the last quarter. Bailard Inc. bought a new position in shares of Univest Financial in the 3rd quarter valued at about $191,000. Everhart Financial Group Inc. bought a new position in shares of Univest Financial in the 3rd quarter valued at about $190,000. Strs Ohio grew its holdings in shares of Univest Financial by 20.0% in the 3rd quarter. Strs Ohio now owns 34,200 shares of the financial services provider’s stock valued at $594,000 after acquiring an additional 5,700 shares in the last quarter. Finally, Watershed Asset Management L.L.C. bought a new position in shares of Univest Financial in the 3rd quarter valued at about $240,000. Institutional investors own 75.07% of the company’s stock.

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.