Univest Financial Corporation Reports First Quarter Results, Shares Increase
Shares of Univest Financial Corporation (NASDAQ: UVSP) have been on the rise following the announcement of the company’s first quarter results.The Corporation reported a net income of $20.3 million for the quarter ended March 31, 2024, compared to $21.0 million for the same quarter in 2023.This resulted in diluted earnings per share of $0.69, down from $0.71 in the prior year.
Despite the slight decrease in net income, Univest Financial Corporation shares have been performing well.Over the last 30 days, shares have increased by 0.88%, and over the last five trading days, shares have gone up by 3.79%. Currently, Univest Financial Corporation shares are trading 1.7% above their 52-week average on the NASDAQ.
Investors seem to be reacting positively to the company’s financial results, as evidenced by the increase in share price.It will be interesting to see how Univest Financial Corporation continues to perform in the upcoming quarters and whether the positive momentum will be sustained.
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