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 Common Stock (symbol: UVSP) represents a key player in the financial sector, with a rich history and strong community ties. Headquartered in Souderton, PA, and founded in 1876, Univest Financial Corporation, through its wholly-owned subsidiary Univest Bank and Trust Co., serves a diverse range of clients including individuals, businesses, municipalities, and non-profit organizations across the mid-Atlantic region.
As of September 30, 2017, Univest boasts approximately $4.4 billion in assets and $3.5 billion in assets under management and supervision through its wealth management lines of business. The company operates through three primary segments:
- Banking: Provides comprehensive banking services such as deposit taking, loan origination, mortgage banking, equipment lease financing, and other general banking services.
- Wealth Management: Offers investment advisory, financial planning, trust, and brokerage services to help clients manage and grow their wealth.
- Insurance: A full-service brokerage agency offering commercial property and casualty insurance, employee benefits solutions, personal insurance lines, and human resources consulting.
Univest Financial Corporation is committed to delivering excellent service and tailored financial solutions. The company's recent achievements include a notable 26.7% increase in earnings per share, reflecting its robust financial health and strategic growth initiatives. By maintaining a close relationship with its customers and providing a comprehensive suite of financial products, Univest continues to strengthen its position in the market and support the financial needs of its community.
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.
Univest Bank and Trust Co., a subsidiary of Univest Financial Corporation (NASDAQ: UVSP), has announced the appointment of Patrick McCormick as Executive Vice President and Chief Credit Officer. McCormick, with nearly 20 years of industry experience, will oversee credit policy and manage credit risk in the bank’s loan portfolio, succeeding Duane Brobst, who is retiring after more than 30 years. President Mike Keim praised McCormick’s extensive background, anticipating it will aid in the growth of their loan portfolio.
Univest Financial Corporation (UVSP) reported a net income of $91.8 million for 2021, up from $46.9 million in 2020. Diluted earnings per share increased to $3.11 from $1.60. For Q4 2021, net income was $17.4 million, down from $25.9 million in Q4 2020. Loan growth was 9.4% excluding PPP loans. Total deposits rose 15.5% to $812.4 million. However, noninterest income fell 4.7% in Q4. A quarterly cash dividend of $0.20 per share was declared. The corporation will discuss results in a conference call on January 27, 2022.
Univest Financial Corporation (UVSP) will host a conference call on January 27, 2022, at 9:00 a.m. to discuss its fourth quarter and year-end 2021 earnings. The earnings report will be released after market close on January 26, 2022. Participants can pre-register to receive a unique dial-in number and PIN to avoid delays. The company manages approximately $7 billion in assets and $4.6 billion in assets under management as of September 30, 2021, serving clients mainly in the Mid-Atlantic Region.
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.
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