In recent trading activity, Jeffrey M. Schweitzer, the Chairman, President & CEO of Univest Financial Corp (NASDAQ:UVSP), has engaged in significant stock transactions, according to the latest SEC filings. Schweitzer completed a series of sales and acquisitions of Univest Financial shares on May 9, 2024.
The CEO acquired a total of 9,000 shares through stock option exercises priced at $18.52 per share, amounting to $166,680. Following these transactions, Schweitzer's direct holdings in the company increased, reflecting a strong confidence in the bank's prospects.
On the same day, Schweitzer also sold 9,000 shares of Univest Financial stock. The sales were executed at variable prices ranging from $22.50 to $22.62, with a weighted average price of $22.5519 per share, culminating in a total sale value of $202,967. This sale was part of a planned divestiture, as detailed in the footnotes of the SEC filing.
It is worth noting that Schweitzer's remaining share ownership includes shares acquired through the company's dividend reinvestment plan. The transactions have adjusted his total direct stake in Univest Financial, although the exact post-transaction share count includes additional shares from the reinvestment plan.
Investors and stakeholders often monitor insider trading activities like these to gain insights into executive sentiment and potential future performance of the company's stock. The detailed information regarding the number of shares sold at each separate price within the reported ranges is available upon request to Univest Financial Corporation, any security holder, or the SEC staff, as per the SEC filing.
Univest Financial Corp, based in Souderton, Pennsylvania, operates as a state commercial bank and provides various banking and financial services. The company's stock trades on the NASDAQ under the ticker symbol UVSP.
InvestingPro Insights
Following the recent insider trading activity by Univest Financial Corp's (NASDAQ:UVSP) CEO, Jeffrey M. Schweitzer, investors are keenly observing the company's performance metrics and outlook. According to the latest data from InvestingPro, Univest Financial Corp boasts a market capitalization of $663 million and is trading near its 52-week high with a price percentage of the 52-week high at 99.43%. This is indicative of the strong market confidence in the company, aligning with Schweitzer's recent increase in direct holdings.
Univest Financial Corp's P/E ratio stands at 9.26 based on the last twelve months as of Q1 2024, suggesting that the company's shares might be reasonably valued compared to industry peers. Additionally, the company has maintained dividend payments for 46 consecutive years, with a current dividend yield of 3.71%, which could be appealing to income-focused investors. This commitment to returning value to shareholders is further underscored by the fact that the company has raised its dividend for 3 consecutive years, as per InvestingPro Tips.
Investors may also be interested in the company's performance over time. Univest Financial Corp has seen a strong return over the last month, with a 22.15% price total return, and over the last six months, with a 31.45% price total return. This trend is a positive signal for both short-term traders and long-term investors. For additional insights and analysis, there are more InvestingPro Tips available for Univest Financial Corp, which can be accessed through https://www.investing.com/pro/UVSP. Moreover, for those looking to delve deeper into the company's financials and forecasts, using the coupon code PRONEWS24 will secure an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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