Univest Financial Corp Stock Price, News & Analysis

On December 1, 2021, Univest Financial Corporation (NASDAQ: UVSP) announced the acquisition of the Paul I. Sheaffer Insurance Agency, a full-service firm in Central Pennsylvania. Founded in 1951, the agency has represented over 40 insurance companies and serves thousands of clients. This strategic acquisition aligns with Univest's culture and expansion goals, retaining all employees under the Univest Insurance, LLC name. This marks Univest's ninth insurance acquisition since 1999, strengthening its presence in the Mid-Atlantic region and enhancing its diverse financial services offering.

Univest Financial Corporation (NASDAQ: UVSP) reported a net income of $20.9 million for Q3 2021, up from $18.1 million in Q3 2020. For the nine months ending September 30, 2021, net income reached $74.4 million, significantly higher than $21.0 million the previous year. Loan growth of 9.7% year-over-year was noted, primarily driven by commercial and residential mortgages. Total deposits surged by 46.6% annualized since June 2021, reflecting strong demand. However, noninterest income decreased 5.7% quarter-over-quarter. A quarterly dividend of $0.20 per share was declared, payable November 24, 2021.

Univest Financial Corporation (UVSP) will host a conference call on October 28, 2021, at 9:00 a.m. to discuss its third quarter 2021 earnings, which will be released post-market on October 27, 2021. The company, headquartered in Souderton, PA, has approximately $6.4 billion in assets and $4.5 billion in assets under management as of June 30, 2021. Available services include a full range of financial solutions for individuals, businesses, and nonprofits, primarily in the Mid-Atlantic region.

Univest Financial Corporation (NASDAQ: UVSP) reported a significant increase in net income for the second quarter of 2021, reaching $20.9 million ($0.71 per share), up from $2.1 million ($0.07 per share) in 2020. For the first half of 2021, net income totaled $53.5 million ($1.81 per share), compared to $2.9 million ($0.10 per share) the previous year. Loan growth (excluding PPP loans) was 14.0% year-over-year. The company declared a quarterly cash dividend of $0.20 per share, payable on August 25, 2021. Strong deposit and loan growth, alongside a favorable tax benefit from bank-owned life insurance, contributed to these results.

Univest Financial Corporation (UVSP) announced a conference call scheduled for July 29, 2021, at 9:00 a.m. to discuss its second quarter earnings, which will be released after market close on July 28, 2021. Participants are encouraged to pre-register for the call to receive a special dial-in number and PIN. The company, headquartered in Souderton, PA, manages approximately $6.4 billion in assets and $4.2 billion in assets under management as of March 31, 2021. Univest offers a range of financial solutions across the Mid-Atlantic Region through over 50 offices.

Univest Financial Corporation (NASDAQ: UVSP) reported a significant increase in net income for Q1 2021, reaching $32.6 million or $1.11 per diluted share, compared to $838 thousand or $0.03 per share in Q1 2020. The pre-tax pre-provision income rose by 31.9%, totaling $29.1 million. Total deposits increased by 5.3% from December 31, 2020, and 20.5% year-on-year, largely driven by growth in consumer and commercial deposits. Noninterest income also surged by 26.5% to $23.3 million. A quarterly cash dividend of $0.20 per share was declared, payable on May 26, 2021.

Univest Financial Corporation (UVSP) will host a conference call on April 29, 2021, at 9:00 a.m. to discuss its first-quarter 2021 earnings. The earnings release is scheduled for after market close on April 28, 2021. Participants can pre-register for the call to receive a special dial-in number. Univest Financial, based in Souderton, Pa., has approximately $6.3 billion in assets and manages $4.1 billion through its Wealth Management services as of December 31, 2020, offering a range of financial solutions across the Mid-Atlantic Region.

Univest Financial Corporation (UVSP) reported a net income of $46.9 million for 2020, down from $65.7 million in 2019. The fourth quarter saw a net income rise to $25.9 million from $15.5 million year-over-year. Total loans increased by 9.9%, while deposits surged by 20.2%. Notably, the company adopted the CECL standard, leading to a reversal of credit loss provisions amounting to $8.7 million in Q4 2020. The effective tax rate improved slightly to 17.5%. A quarterly dividend of $0.20 per share was declared, payable on February 24, 2021.

Univest Financial Corporation (UVSP) will host a conference call on January 28, 2021, at 9:00 a.m. to discuss its fourth quarter and year-end 2020 earnings. The earnings report will be released after market close on January 27, 2021. Participants can pre-register via a provided link for a special dial-in number and PIN to join the call. Univest, headquartered in Souderton, PA, oversees approximately $6.4 billion in assets and $3.8 billion in assets under management as of September 30, 2020.