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Univest Corporation Of Pennsylvania (UVSP)
NASDAQ:UVSP
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Earnings Data
Report Date
Jan 22, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
0.57Last Year’s EPS
0.55Same Quarter Last Year
Based on 1 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Oct 24, 2018
|% Change Since: 9.76%
|Next Earnings Date:Jul 25, 2018
Earnings Call Sentiment|Neutral
The earnings call presented a balanced view with significant highlights such as increased net income, deposit growth, and effective expense management. However, challenges like muted loan growth and competition in the market were also acknowledged.Company Guidance
During the Univest Financial Corporation's third-quarter 2024 earnings call, the company provided a detailed guidance update for the year. Univest expects loan growth of approximately 4% for the full year and anticipates a contraction in net interest income by 4% to 5%. The provision for credit losses guidance has been adjusted to $6 million to $8 million, reflecting event-driven factors such as loan growth and changes in economic assumptions. Noninterest income is projected to grow by 7% to 9%, excluding a $3.4 million pretax gain from the first quarter, with noninterest expenses expected to increase by 1% to 2% from the 2023 base. Furthermore, the effective tax rate is estimated to be around 20.5%. The company plans to continue its stock buyback strategy, having repurchased 663,043 shares year-to-date, and remains focused on prudent expense management and leveraging its diversified business model.Net Income and Share Repurchase
Reported net income of $18.6 million for Q3 2024, or $0.63 per share. Repurchased 156,728 shares during the quarter and 663,043 shares year-to-date, representing 2.25% of shares outstanding as of December 31, 2023.
Increase in Deposits
Deposits increased by $358.8 million during the quarter due to seasonal build of public funds deposits.
Growth in Noninterest Income
Noninterest income rose by $1.5 million or 7.8% compared to Q3 2023, driven by wealth management and insurance lines which grew by 9.8% and 8%, respectively.
Expense Management
Noninterest expenses decreased by $436,000 or 0.9% compared to Q3 2023, reflecting effective expense reduction strategies.
Tangible Book Value Increase
Tangible book value per share grew by 7.32% year-to-date.
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UVSP Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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UVSP Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 23, 2024 | $27.05 | $28.07 | +3.77% |
| Jul 24, 2024 | $27.02 | $27.73 | +2.63% |
| Apr 24, 2024 | $19.50 | $20.04 | +2.77% |
| Jan 24, 2024 | $20.15 | $20.57 | +2.08% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Univest Corporation Of Pennsylvania (UVSP) report earnings?
Univest Corporation Of Pennsylvania (UVSP) is schdueled to report earning on Jan 22, 2025, TBA Not Confirmed.
What is Univest Corporation Of Pennsylvania (UVSP) earnings time?
Univest Corporation Of Pennsylvania (UVSP) earnings time is at Jan 22, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is UVSP EPS forecast?
UVSP EPS forecast for the fiscal quarter 2024 (Q4) is 0.57.
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