Welcome to our dedicated page for Univest Financial news (Ticker: UVSP), a resource for investors and traders seeking the latest updates and insights on Univest Financial stock.
Univest Financial Corporation (UVSP) is a Pennsylvania-based financial services company and the parent of Univest Bank and Trust Co., a member of the FDIC. The company operates in the commercial banking industry and also offers wealth management and insurance services. Its news flow reflects activities across these businesses and provides insight into its financial performance, capital management and operating environment.
Visitors to this news page can review Univest’s earnings announcements, where the corporation reports quarterly net income, net interest income, net interest margin, noninterest income and noninterest expense. These releases also discuss trends in loans and leases, deposit balances, liquidity, asset quality, credit loss provisions and capital levels. Univest frequently comments on changes in commercial and consumer deposits, brokered and public funds deposits, and noninterest-bearing and unprotected deposits.
The company’s news also covers dividends and share repurchases, including declarations of quarterly cash dividends on its common stock and activity under its share repurchase plan. In addition, Univest issues press releases about capital markets transactions, such as the completion of fixed-to-floating rate subordinated debt offerings intended to qualify as Tier 2 capital and the planned redemption of existing subordinated notes.
Univest regularly announces earnings conference calls for analysts and investors, providing details on call dates, times, access codes and replay information. These calls accompany the release of quarterly or annual financial results. By following this news stream, readers can track how Univest’s banking, wealth management and insurance operations are evolving over time and how management describes the risks and opportunities facing the company.
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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.