Piper Jaffray Initiates Coverage on Univest Corp. of PA to Overweight

Piper Jaffray Initiates Coverage on Univest Corp. of PA(NASDAQ:UVSP). The shares have been rated Overweight. The rating by Piper Jaffray was issued on Jul 14, 2016.

Univest Corp. of PA (UVSP) made into the market gainers list on Mondays trading session with the shares advancing 0.23% or 0.05 points. Due to strong positive momentum, the stock ended at $21.67, which is also near the day’s high of $21.735. The stock began the session at $21.56 and the volume stood at 1,29,260 shares. The 52-week high of the shares is $21.735 and the 52 week low is $18.425. The company has a current market capitalization of $425 M and it has 1,96,16,172 shares in outstanding.

Univest Corp. of PA(UVSP) last announced its earnings results on Apr 27, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $37.35M. Analysts had an estimated revenue of $38.80M. Earnings per share were $0.38. Analysts had estimated an EPS of $0.40.

Several Insider Transactions has been reported to the SEC. On Jun 17, 2016, Glenn E Moyer (director) purchased 1,000 shares at $19.90 per share price.Also, On Jun 10, 2016, Michael L. Turner (director) sold 2,000 shares at $20.10 per share price.On Mar 30, 2016, Kevin Brian Norris (Pres – Invest. & Wealth Mgmt) purchased 2,500 shares at $18.95 per share price, according to the Form-4 filing with the securities and exchange commission.

Univest Corporation of Pennsylvania is a bank holding company. The Company owns all of the capital stock of Univest Bank and Trust Co. (the Bank). The Bank is a Pennsylvania state-chartered bank and trust company. The Bank is engaged in the general commercial banking business and provides a range of banking and trust services to its customers. The Company operates through three business segments: Banking Wealth Management and Insurance. The Bank through its subsidiaries acts as an insurance agency broker-dealer and investment advisory firm and operates an equipment financing business. Through its wholly owned subsidiaries the Bank provides a variety of financial services to individuals municipalities and businesses throughout its markets of operation.

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