Welcome to our dedicated page for Univest Financial Corporation news (Ticker: UVSP), a resource for investors and traders seeking the latest updates and insights on Univest Financial Corporation stock.
Univest Financial Corporation Common Stock (symbol: UVSP) represents a key player in the financial sector, with a rich history and strong community ties. Headquartered in Souderton, PA, and founded in 1876, Univest Financial Corporation, through its wholly-owned subsidiary Univest Bank and Trust Co., serves a diverse range of clients including individuals, businesses, municipalities, and non-profit organizations across the mid-Atlantic region.
As of September 30, 2017, Univest boasts approximately $4.4 billion in assets and $3.5 billion in assets under management and supervision through its wealth management lines of business. The company operates through three primary segments:
- Banking: Provides comprehensive banking services such as deposit taking, loan origination, mortgage banking, equipment lease financing, and other general banking services.
- Wealth Management: Offers investment advisory, financial planning, trust, and brokerage services to help clients manage and grow their wealth.
- Insurance: A full-service brokerage agency offering commercial property and casualty insurance, employee benefits solutions, personal insurance lines, and human resources consulting.
Univest Financial Corporation is committed to delivering excellent service and tailored financial solutions. The company's recent achievements include a notable 26.7% increase in earnings per share, reflecting its robust financial health and strategic growth initiatives. By maintaining a close relationship with its customers and providing a comprehensive suite of financial products, Univest continues to strengthen its position in the market and support the financial needs of its community.
Univest Financial (NASDAQ: UVSP) reported net income of $18.1 million, or $0.62 diluted earnings per share, for Q2 2024, compared to $16.8 million, or $0.57 per share, in Q2 2023. Excluding one-time items, diluted EPS was $0.61 for both quarters. Key highlights:
- Gross loans increased by 1.6% from Q1 2024
- Total deposits rose by 1.4% from Q1 2024
- Net interest income decreased by 6.1% year-over-year
- Net interest margin was 2.84%, down from 3.14% in Q2 2023
- Noninterest income increased by 5.8% year-over-year
- Noninterest expense decreased by 2.2% year-over-year
- The allowance for credit losses on loans remained stable at 1.28%
Univest declared a quarterly cash dividend of $0.21 per share and repurchased 190,808 shares during Q2 2024.
Univest Financial (UVSP), the parent company of Univest Bank and Trust Co., announced it will hold a conference call to discuss its Q2 2024 earnings on July 25, 2024, at 9:00 a.m. The earnings report will be released after market close on July 24, 2024. Univest has assets totaling $7.7 billion and $5.0 billion under management as of March 31, 2024.
Headquartered in Souderton, Pa., Univest offers a range of financial services in the Mid-Atlantic Region through more than 50 offices and online. Participants can pre-register for the earnings call to avoid delays.
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