Overview
U.S. regional bank's Q1 diluted EPS rose 24.7% yr/yr, net income increased
Net interest income grew 11.6% yr/yr, driven by higher loan balances and lower cost of funds
Company raised quarterly dividend by 4.5% and repurchased 351,138 shares in Q1
Outlook
Company did not provide specific guidance or outlook for future periods
Result Drivers
NET INTEREST INCOME - Higher average loan balances and reduced cost of funds drove net interest income growth
Company press release: ID:nGNXSXZpv
Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Net Interest Income
$63.40 mln
Q1 Net Interest Margin
3.33%
Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is no "strong buy" or "buy", 3 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the banks peer group is "buy."
Wall Street's median 12-month price target for Univest Financial Corp is $36.00, about 1.9% below its April 21 closing price of $36.68
The stock recently traded at 11 times the next 12-month earnings vs. a P/E of 10 three months ago
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)