Univest Financial CEO Jeffrey Schweitzer Reports Stock Trades

Univest Financial Corp’s Chairman, President, and CEO, Jeffrey M. Schweitzer, recently made notable transactions involving the company’s common stock, as indicated by the latest regulatory filings. Schweitzer sold shares totaling approximately $243,138, with transaction prices ranging from $28.42 to $28.75. Additionally, he purchased shares worth $167,319 at a price of $19.68.

These transactions occurred over two consecutive days. On September 17, 2024, Schweitzer sold 3,961 shares at an average price of $28.42, followed by the sale of 4,541 shares the next day at an average price of $28.75. Multiple transactions were conducted within the specified price ranges, and detailed information on the exact number of shares traded at each price point can be obtained upon request from Univest Financial Corporation or the relevant regulatory authorities.

In conjunction with the sales, Schweitzer exercised options to acquire 8,502 shares of Univest Financial’s common stock at a fixed price of $19.68 per share. These option exercises were part of a vesting schedule that allows for 33.3% exercisability per year over a three-year period from the specified date.

Following these transactions, Schweitzer’s direct ownership of the company includes a notable amount of shares obtained through the dividend reinvestment plan, totaling 10,090.1043 shares.

Insider transactions are typically monitored by investors and stakeholders as they can provide insights into the executives’ views on the company’s current valuation and future outlook. The reported trades by Univest Financial’s CEO shed light on such insider activities expected in regular financial disclosures.

In other recent developments, Univest Corporation announced a net income of $18.2 million for the second quarter of 2024, attributed mainly to a significant rise in deposits and loans. Deposits increased by $90 million, while loans grew by approximately $106 million. Moreover, non-interest income rose by 5.8% in comparison to the previous year. The company also repurchased nearly 191,000 shares, bolstering its financial results.

Following these earnings, Piper Sandler adjusted its price target for Univest Corporation, raising it from $20.00 to $24.00 while maintaining a Neutral rating on the stock. This change was influenced by the company’s earnings per share (EPS) of $0.62, which exceeded the anticipated $0.51 EPS from both Piper Sandler and the consensus estimate.

Despite a slight decline in total revenues, the Piper Sandler analyst viewed the quarter positively, commenting on improvements in credit and capital. Univest Corporation also provided updated guidance for the year, forecasting steady loan growth, a slight contraction in net interest income, and stronger growth in non-interest income. This recent performance indicates a hopeful outlook for the corporation, which remains optimistic about its growth trajectory and future results.

Univest Financial Corp’s recent insider transactions align with several positive trends in the company’s performance metrics. Current data reveals that Univest Financial has a market capitalization of approximately $840.13 million, with a P/E ratio of 11.8 over the last twelve months leading up to Q2 2024. These figures suggest a company that is reasonably valued relative to its earnings.

In addition, the company’s stock has demonstrated remarkable price appreciation, achieving a total return of 50.01% over the last six months and 73.09% over the past year. This strong performance likely influenced the CEO’s decision to engage in stock transactions. Furthermore, Univest Financial Corp is currently trading close to its 52-week high, at 97.86% of this peak, indicating robust investor confidence.

The company has also shown a commitment to its shareholders, having raised its dividend for three consecutive years and maintaining uninterrupted dividend payments for an impressive 46 consecutive years. This track record suggests a reliable income stream for investors and a stable financial position for the company. Analysts have upwardly revised their earnings projections for the upcoming period, hinting at potential growth ahead. These positive indicators may make Univest Financial Corp an attractive option for investors seeking both growth and income opportunities.