Univest Financial Corp (OQ:UVSP)
Business Focus: Commercial Banks
| Sector: Financials | Industry: Banks |
| See Regulatory Filings on SEC | |
| Company Contact | |
| Address: | 14 NORTH MAIN STREET, PO Box 197 SOUDERTON PA 18964 |
| Tel: | 1-215-7212446 |
| Website: | https://www.univest.net |
| IR: | See website |
| Key People | ||
| Jeffrey M. Schweitzer Chairman of the Board, President, Chief Executive Officer | Brian Jason Richardson Chief Financial Officer, Senior Executive Vice President of Corporation and Bank | Michael S. Keim Chief Operating Officer, Senior Executive Vice President of the Corporation, President and Director of the Bank |
| Megan D. Santana Senior Executive Vice President, Chief Risk Officer, General Counsel of the Corporation and the Bank | Patrick McCormick Executive Vice President, Chief Credit Officer of the Bank | |
| Business Overview |
| Univest Financial Corporation is a bank holding company for Univest Bank and Trust Co. (the Bank). The Bank is a state-chartered bank and trust company. The Company has three segments: Banking, Wealth Management and Insurance. Banking segment provides financial services to individuals, businesses, municipalities and non-profit organizations. These services include a full range of banking services, such as deposit taking, loan origination and servicing, mortgage banking, other general banking services, and equipment lease financing. Wealth Management segment offers investment advisory, financial planning, trust and brokerage services. The segment serves a diverse client base of private families and individuals, municipal pension plans, retirement plans, trusts and guardianships. Insurance segment includes a full-service insurance brokerage agency offering commercial property and casualty insurance, employee benefit solutions, personal insurance lines and human resources consulting. |
| Financial Overview |
| For the three months ended 31 March 2024, Univest Financial Corp interest income increased 18% to $98.6M. Net interest income after loan loss provision decreased 11% to $50M. Net income decreased 3% to $20.3M. Net interest income after loan loss provision reflects Banking segment decrease of 12% to $52.3M, Net Interest Margin, Total -% decrease of 20% to 2.88%, Net Interest Spread, Total -% decrease of 31% to 1.94%. |
| Employees: | 979 as of Dec 31, 2023 |
| Reporting Currency: | U.S. Dollars |
| Enterprise value: | $767.39M as of Mar 31, 2024 |
| Annual revenue (TTM): | $387.09M as of Mar 31, 2024 |
| EBITDA (TTM): | $121.17M as of Mar 31, 2024 |
| Net annual income (TTM): | $70.38M as of Mar 31, 2024 |
| Free cash flow (TTM): | $50.32M as of Mar 31, 2024 |
| Net Debt Last Fiscal Year: | $104.38M as of Mar 31, 2024 |
| Shares outstanding: | 29,271,699 as of Apr 29, 2024 |
| TTM: Trailing Twelve Months EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization | |
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