Univest: 6 Different Insiders Have Purchased Shares This Month

Feb.10.14 | About: Univest Corporation (UVSP)

In this article, I will feature one bank that has seen intensive insider buying during the last 30 days. Intensive insider buying can be defined by the following three criteria:

  1. The stock is purchased by three or more insiders within one month.
  2. The stock is sold by no insiders in the month of intensive purchasing.
  3. At least two purchasers increased their holdings by more than 10%.

Univest Corporation of Pennsylvania (NASDAQ:UVSP) operates as the holding company for Univest Bank and Trust Co. that provides various commercial and retail banking, community banking, and trust services to individuals, businesses, municipalities, and nonprofit organizations in Pennsylvania.

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Insider buying during the last 30 days

Here is a table of Univest's insider-trading activity during the last 30 days by insider.

Name Title Trade Date Shares Purchased Current Ownership Increase In Shares
Duane Brobst EVP Feb 6 275 29,329 shares +0.9%
Kenneth Hochstetler EVP Feb 6 2,849 51,173 shares +5.9%
Philip Jackson President, Corporate Banking Feb 6 1,802 29,927 shares +6.4%
Michael Keim CFO Jan 30-Feb 6 3,377 12,234 shares +38.1%
Leon Moyer Vice Chairman Feb 6 3,695 96,683 shares +4.0%
Jeffrey Schweitzer CEO Feb 6 3,638 38,012 shares +10.6%
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There have been 15,636 shares purchased by insiders during the last 30 days.

Insider buying by calendar month

Here is a table of Univest's insider-trading activity by calendar month.

Month

Insider buying / shares

Insider selling / shares

February 2014 13,636 0
January 2014 2,000 0
December 2013 0 0
November 2013 0 0
October 2013 0 0
September 2013 0 600
August 2013 1,000 0
July 2013 0 0
June 2013 0 1,796

May 2013

0

0

April 2013

0

0

March 2013

17,480

1,300

February 2013

12,092

0

January 2013

0

0

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There have been 46,208 shares purchased, and there have been 3,696 shares sold by insiders since January 2013.

Financials

Univest reported the full-year 2013 financial results on January 22 with the following highlights:

Net interest income $72.5 million

Net income

$21.2 million

Book value

$17.22 per share

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Competition

Univest's peer group comprises all Mid-Atlantic banks, thrifts and savings institutions. The Mid-Atlantic area is defined as Pennsylvania, New York, New Jersey, Maryland, Delaware and the District of Columbia. Here is a table comparing Univest against the peer average.

Company UVSP Peer average
P/E 14.31 20.24
P/B 105.56% 130.24%
Dividend Yield 4.40% 2.19%
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Univest beats the peer group in all of these three metrics.

Conclusion

There have been six different insiders buying Univest, and there have not been any insiders selling Univest during the last 30 days. Two of these six insiders increased their holdings by more than 10%. Univest has an insider ownership of 4.00%.

Univest has a book value of $17.22 per share, which could be a good entry point for the stock based on the intensive insider buying.

UVSP Book Value (Per Share) Chart

Disclosure: I have no positions in any stocks mentioned, but may initiate a long position in UVSP over the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.