Univest Q4 2023 EPS $0.55 vs $0.81 YoY; net income down 31.5% to $16.3M

UNIVEST FINANCIAL Corp

2023-FY EPS reported $2.41 revenue$296,821,000

Net income $16.3M ($0.55 diluted EPS) vs $23.8M ($0.81) in Q4 2022, down 31.5%.
Net interest margin (tax-equivalent) fell to 2.84% from 3.76% YoY, pressured by higher deposit costs.
Loans grew 7.3% YoY to $6.5B; deposits up 7.8% to $6.4B; NIM compression continues.
Noninterest income $18.6M (-9.0% YoY) due to lower investment advisory fees and BOLI death benefit comparison.
Declared quarterly dividend $0.21/share, payable Feb 21, 2024 to holders of record Feb 7, 2024 (unchanged).

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

UNIVEST FINANCIAL Corp reported the quarter ended December 31, 2023 results: net income $16.3 million, EPS $0.55 diluted earnings per share.

Period: the quarter ended December 31, 2023
Net income: $16.3 million
EPS: $0.55 diluted earnings per share
Result: reported results

Exact text from the filing

Univest Financial Corporation (“Univest” or the "Corporation") ( NASDAQ: UVSP ), parent company of Univest Bank and Trust Co. (the "Bank") and its insurance, investments and equipment financing subsidiaries, announced net income for the quarter ended December 31, 2023 was $16.3 million, or $0.55 diluted earnings per share, compared to net income of $23.8 million, or $0.81 diluted earnings per share, for the quarter ended December 31, 2022.

View on SEC.gov

Browse all earnings releases →

UNIVEST FINANCIAL Corp filing history →

Source: SEC EDGAR

accession 0000102212-24-000004

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.