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) 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.
Univest Financial Corporation (NASDAQ: UVSP) has released its inaugural Environmental, Social and Governance (ESG) Report, showcasing its commitment to corporate responsibility. This report outlines Univest's focus on sustainability, community support, employee investment, customer service, and sound governance practices. CEO Jeff Schweitzer emphasizes the integration of core values and socially responsible practices in achieving the company's mission. Univest manages approximately $6.4 billion in assets and $3.8 billion in assets under management as of September 30, 2020.
Univest Financial Corporation (UVSP) reported a net income of $18.1 million for Q3 2020, up from $17.7 million in Q3 2019. For the nine months ended September 30, net income was $21 million, significantly down from $50.2 million in the prior year. Key highlights include a 23.1% increase in gross loans, while total deposits rose by 28.1%. Noninterest income surged by 31.4%, reflecting strong mortgage banking activity. However, the corporation faces challenges with a rising provision for credit losses totaling $49.5 million, largely due to factors related to COVID-19.
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