Univest Financial Corp Stock Price, News & Analysis

Univest Financial Corporation (UVSP) reported a net income of $21.0 million, or $0.71 diluted earnings per share for Q1 2023, reflecting a year-over-year growth from $20.3 million or $0.68 EPS in Q1 2022. Gross loans increased by $116.6 million, or 1.9% from Q4 2022, and $839.0 million, or 15.5% from Q1 2022. However, total deposits fell by $78.9 million (1.3%) from Q4 2022 and $213.3 million (3.5%) year-over-year. Net interest income rose 27.1% year-over-year to $59.3 million, while net interest margin decreased to 3.58% from 3.76% in the previous quarter. Noninterest income declined by 3.9% to $19.7 million, affected by lower mortgage banking gains. A quarterly cash dividend of $0.21 per share was declared.

Univest Financial Corporation (UVSP) announced a conference call to discuss its first quarter 2023 earnings on April 27, 2023, at 9:00 a.m. EST. Earnings will be released post-market close on April 26, 2023. The company encourages participants to pre-register for the call via a provided link to avoid delays. For those unable to pre-register, a dial-in number is available, along with an access code. Univest Financial Corporation boasts approximately $7.2 billion in assets and $4.2 billion under management as of December 31, 2022, serving individuals and businesses primarily in the Mid-Atlantic region through over 50 offices and online services. The call will also be available for replay until May 27, 2023.

Univest Financial Corporation (NASDAQ: UVSP) reported a net income of $23.8 million for Q4 2022, a significant increase from $17.4 million in Q4 2021, translating to $0.81 diluted earnings per share compared to $0.59 the previous year. The growth in gross loans and leases was 16.0% year-over-year, totaling $842.8 million. Net interest income rose 30.3% to $61.9 million. However, total deposits decreased by 2.5% year-over-year. The company declared a quarterly cash dividend of $0.21 per share, scheduled for payment on February 22, 2023.

Univest Financial Corporation (Nasdaq: UVSP) will host a conference call on January 26, 2023, at 9:00 a.m. to discuss its Q4 2022 earnings, releasing results after market close on January 25. Participants can pre-register for the call to avoid delays. Univest has approximately $6.9 billion in assets and $4.0 billion in assets under management as of September 30, 2022. With over 50 offices, Univest offers comprehensive financial services, including banking and wealth management, primarily in the Mid-Atlantic region.

On November 7, 2022, Univest Financial Corporation (NASDAQ: UVSP) announced a public offering of $50 million in 7.25% Fixed-to-Floating Rate Subordinated Notes due 2032. The initial interest of 7.25% is payable semi-annually, transitioning to a floating rate later. The expected net proceeds of approximately $49 million will be used for general corporate purposes. The offering is managed by U.S. Bancorp Investments, with expected closure on or about November 15, 2022. The Notes are subject to regulatory approval, and interested investors can access more details via the SEC's website.

Univest Financial Corporation (NASDAQ: UVSP) reported net income of $20.8 million, or $0.71 diluted EPS, for Q3 2022, nearly flat from $20.9 million in Q3 2021. Total gross loans rose 13.5% from Q2 2022, driven by growth in commercial and residential loans. However, noninterest income fell 12.6% to $18.0 million, significantly impacted by a 74.7% decline in mortgage banking activities. Noninterest expense increased by 7.9% to $46.7 million, partly due to a digital transformation initiative. Share repurchases and a quarterly dividend of $0.21 per share were also announced.

Univest Financial Corporation (Nasdaq: UVSP) will host a conference call to discuss its third quarter 2022 earnings on October 27, 2022, at 9:00 a.m. Earnings will be released post-market on October 26, 2022. Participants can pre-register for a special dial-in number to avoid delays. The company, headquartered in Souderton, PA, has approximately $6.7 billion in assets and $4.1 billion in assets under management as of June 30, 2022. Univest provides a wide range of financial solutions across the Mid-Atlantic Region.

KBRA has released its latest U.S. Bank Compendium, analyzing the 2Q22 results for U.S. banks rated by KBRA amidst rising interest rates. The report discusses how banks are adjusting to these changes and potential impacts on profitability amid economic uncertainty. Key performance metrics, including credit ratios and returns on assets, are highlighted. The Compendium also provides a quarterly ESG Bulletin featuring Univest Financial Corporation (NASDAQ: UVSP) along with summaries of all publicly traded banks in KBRA's rated universe.

Univest Financial Corporation (UVSP) announced a net income of $13.2 million ($0.45 EPS) for Q2 2022, down from $20.9 million ($0.71 EPS) in Q2 2021. For the first half, net income totaled $33.5 million ($1.13 EPS), down from $53.5 million ($1.81 EPS). Loan growth was strong at 19.6% annualized, but total deposits decreased by $484.9 million (32% annualized) due to seasonal factors. Net interest income rose to $51.5 million, reflecting increased loan balances. Noninterest income fell by 6.1% to $19.0 million, primarily from reduced mortgage banking activities. A quarterly dividend of $0.21 was declared.