Overview
Financial services firm's Q4 net income rose yr/yr, driven by higher loan balances
Net interest income for Q4 increased yr/yr, driven by higher loan yields
Company expanded share repurchase program by 2 mln shares
Outlook
Company did not provide specific guidance for future quarters or full year in its press release
Result Drivers
HIGHER LOAN YIELDS - Increase in net interest income driven by higher average balances of loans and increased loan yields
NONINTEREST INCOME GROWTH - Noninterest income rose due to higher investment advisory fees and leasing-related activities
EXPENSE INCREASE - Noninterest expense rose due to higher salaries, benefits, and professional fees
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q4 EPS | $0.79 | ||
Q4 Net Interest Income | $62.50 mln | ||
Q4 Net Interest Margin | 3.10% |
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 $34.00, about 1.5% above its January 27 closing price of $33.49
The stock recently traded at 11 times the next 12-month earnings vs. a P/E of 10 three months ago
Press Release: ID:nGNX5nc9vd
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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.)