Shares of Univest (UVSP) have been struggling lately and have lost 8.8% over the past two weeks. However, a hammer chart pattern was formed in its last trading session, which could mean that the stock found support with bulls being able to counteract the bears. So, it could witness a trend reversal down the road. While the formation of a hammer pattern is a technical indication of nearing a bottom with potential exhaustion of selling pressure, rising optimism among Wall Street analysts about the future earn ...

| --- | --- | --- | --- | --- | --- | --- | --- | --- | |-----------------------------------------------------------|-------|--------|-----------------------------|--------|-------|---------|---------------------------|---------| | (Dollars in thousands, except per share data) | | 2024 | Three Months Ended June 30, | \n2023 | | 2024 | Six Months Ended June 30, | 2023 | | Interest income | | | | | | | | | | Interest and fees on loans and leases | $ | 94,276 | $ | 85,320 | $ | 186,893 | $ | 163,975 | | Intere ...

Momentum investing revolves around the idea of following a stock's recent trend in either direction. In the 'long' context, investors will be essentially be "buying high, but hoping to sell even higher." With this methodology, taking advantage of trends in a stock's price is key; once a stock establishes a course, it is more than likely to continue moving that way. The goal is that once a stock heads down a fixed path, it will lead to timely and profitable trades. Even though momentum is a popular stock cha ...

Financial Data and Key Metrics Changes - The company reported net income of $18.2 million for the second quarter, equating to $0.62 per share [16] - Reported net interest margin (NIM) was 2.84%, a decrease of 4 basis points from the previous quarter [4] - Core NIM, excluding excess liquidity, was 2.86%, down 5 basis points compared to the first quarter [4] - Non-interest income increased by $1.1 million or 5.8% compared to the second quarter of 2023 [5] - Non-interest expenses decreased by $1.1 million or 2.2% year-over-year [22] Business Line Data and Key Metrics Changes - Loan growth was approximately $106 million or 6.4% annualized during the second quarter [16] - Non-interest income growth guidance for the year was increased from 4%-6% to 7%-9% [7] - The provision for credit losses was reduced from $11 million to $13 million to a new range of $8 million to $10 million [7] Market Data and Key Metrics Changes - Deposits grew by $90 million or 5.6% annualized during the quarter, despite a decrease in brokered and public fund deposits [16][20] - The company experienced a decrease in nonperforming assets and relative stability in loan delinquencies [21] Company Strategy and Development Direction - The company plans to maintain its investment portfolio at 6%-8% of total assets [20] - The focus remains on C&I loans, which are expected to drive growth moving forward [33] - The company aims to manage expenses prudently to mitigate revenue pressures [23] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about NIM stabilization and potential expansion in the second half of the year [4] - The company anticipates continued solid loan pipelines and expects to generate excess capital for stock buybacks [28] - Competition for loans and deposits remains high, with management noting that deposit pricing is particularly competitive [34] Other Important Information - The company repurchased approximately 191,000 shares at an average cost of $21.17 during the quarter [6] - The tangible book value per share increased by $0.47 or 2.1% [6] Q&A Session Summary Question: Expectations for deposit growth in the back half of the year - Management indicated that they expect to generate excess capital and deploy it into buybacks, with solid loan pipelines supporting this [28] Question: Loan growth pipeline and funding expectations - The loan pipeline has expanded, with expectations for similar net loan growth in Q3 as seen in Q2, primarily in C&I loans [33] Question: Competition trends in loan and deposit markets - Competition remains strong, particularly for high-quality credits, with deposit pricing being more competitive than loan pricing [34]

NEWS Exhibit 99.1 CONTACT: Brian J. Richardson UNIVEST FINANCIAL CORPORATION Chief Financial Officer 215-721-2446, richardsonb@univest.net FOR IMMEDIATE RELEASE UNIVEST FINANCIAL CORPORATION REPORTS SECOND QUARTER RESULTS SOUDERTON, Pa., July 24, 2024 - Univest Financial Corporation ("Univest" or the "Corporation") (NASDAQ: UVSP), parent company of Univest Bank and Trust Co. (the "Bank") and its insurance, investments and equipment financing subsidiaries, announced net income for the quarter ended June 30, ...

This quarterly report represents an earnings surprise of 19.61%. A quarter ago, it was expected that this holding company for Univest Bank and Trust Co. Would post earnings of $0.48 per share when it actually produced earnings of $0.60, delivering a surprise of 25%. Univest, which belongs to the Zacks Banks - Northeast industry, posted revenues of $72.01 million for the quarter ended June 2024, missing the Zacks Consensus Estimate by 0.68%. This compares to year-ago revenues of $74.16 million. The company h ...

Noninterest Income Other income decreased $477 thousand, or 39.0%, for the quarter ended June 30, 2024 compared to the three months ended June 30, 2023. Fees on risk participation agreements for interest rate swaps decreased $710 thousand due to reduced customer demand. Additionally, the second quarter of 2023 included a loss of $250 thousand on the sale of an interest in a shared national credit. Tax Provision Net loan and lease charge-offs were $809 thousand for the three months ended June 30, 2024 compar ...

Pre-registration Telephone participants may avoid any delays by pre-registering for the call using the following link. Replay Dial in number: 1-866-813-9403 Replay Code: 310450 Available until: September 23, 2024 SOUDERTON, Pa., July 08, 2024 (GLOBE NEWSWIRE) -- Univest Financial Corporation (Nasdaq: UVSP), parent company of Univest Bank and Trust Co. and its insurance, investment and equipment finance subsidiaries, announced it will host a conference call to discuss its second quarter 2024 earnings on Thur ...

SOUDERTON, Pa., July 08, 2024 (GLOBE NEWSWIRE) -- Univest Financial Corporation (Nasdaq: UVSP), parent company of Univest Bank and Trust Co. and its insurance, investment and equipment finance subsidiaries, announced it will host a conference call to discuss its second quarter 2024 earnings on Thursday, July 25, 2024 at 9:00 a.m. Earnings are scheduled to be released after the close of the market on Wednesday, July 24, 2024. Pre-registration Telephone participants may avoid any delays by pre-registering for ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q ☒ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended March 31, 2024 or ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from __________ to __________ Commission File Number: 0-7617 UNIVEST FINANCIAL CORPORATION (Exact name of registrant as specified in its charter) (State or other jurisdiction ...