Univest Financial Corp Stock Price, News & Analysis

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.

Univest Financial Corporation (UVSP) will host a conference call on July 28, 2022, at 9:00 a.m. to discuss its second quarter 2022 earnings, scheduled for release after market close on July 27, 2022. Participants can pre-register via the provided link to receive a special dial-in number. Univest manages approximately $7.1 billion in assets and $4.6 billion in assets under management as of March 31, 2022.

Univest Financial Corporation (NASDAQ: UVSP) reported Q1 2022 net income of $20.3 million, down from $32.6 million in Q1 2021. Diluted EPS was $0.68, compared to $1.11 a year earlier. A 5% dividend increase to $0.21 per share was announced, with planned quarterly repurchases of 150,000 shares. The corporation expanded to Western PA and Maryland with the hiring of two new market presidents. Noninterest income decreased by 12%, driven by a significant drop in mortgage banking activities. The net interest margin slightly improved to 2.89% despite rising interest rates.

Univest Financial Corporation (UVSP) announced a conference call to discuss its first quarter 2022 earnings, scheduled for April 28, 2022, at 9:00 a.m. The earnings report will be released after market close on April 27, 2022. The conference call will allow participants to engage in discussions about the company's performance. Univest manages approximately $7.1 billion in assets and $4.9 billion in assets under management as of December 31, 2021. The company provides a variety of financial services across the Mid-Atlantic region.