Brokerages Anticipate Unity Bancorp, Inc. (NASDAQ:UNTY) to Announce $0.85 Earnings Per Share

Brokerages expect Unity Bancorp, Inc. (NASDAQ:UNTYGet Rating) to post $0.85 earnings per share for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for Unity Bancorp’s earnings. The highest EPS estimate is $0.87 and the lowest is $0.82. Unity Bancorp reported earnings per share of $0.80 in the same quarter last year, which suggests a positive year-over-year growth rate of 6.2%. The company is expected to issue its next quarterly earnings results on Monday, January 1st.

According to Zacks, analysts expect that Unity Bancorp will report full-year earnings of $3.37 per share for the current financial year, with EPS estimates ranging from $3.20 to $3.54. For the next fiscal year, analysts expect that the business will report earnings of $3.53 per share, with EPS estimates ranging from $3.30 to $3.76. Zacks’ EPS averages are an average based on a survey of research analysts that that provide coverage for Unity Bancorp.

Unity Bancorp (NASDAQ:UNTYGet Rating) last posted its earnings results on Tuesday, April 19th. The financial services provider reported $0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.81 by $0.04. Unity Bancorp had a net margin of 38.26% and a return on equity of 18.21%.

A number of brokerages have weighed in on UNTY. StockNews.com began coverage on shares of Unity Bancorp in a research report on Thursday, March 31st. They issued a “buy” rating for the company. Zacks Investment Research downgraded shares of Unity Bancorp from a “buy” rating to a “hold” rating in a research report on Wednesday, March 30th. Finally, Piper Sandler began coverage on shares of Unity Bancorp in a research report on Thursday, April 7th. They issued an “overweight” rating and a $33.00 price objective for the company.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. River Oaks Capital LLC purchased a new stake in Unity Bancorp during the 4th quarter valued at about $897,000. Fourthstone LLC grew its stake in Unity Bancorp by 45.0% during the 1st quarter. Fourthstone LLC now owns 481,355 shares of the financial services provider’s stock valued at $13,468,000 after acquiring an additional 149,358 shares in the last quarter. Pacific Ridge Capital Partners LLC grew its stake in Unity Bancorp by 33.3% during the 4th quarter. Pacific Ridge Capital Partners LLC now owns 241,812 shares of the financial services provider’s stock valued at $6,348,000 after acquiring an additional 60,450 shares in the last quarter. Gator Capital Management LLC purchased a new stake in Unity Bancorp during the 4th quarter valued at about $780,000. Finally, Banc Funds Co. LLC grew its stake in Unity Bancorp by 2.7% during the 1st quarter. Banc Funds Co. LLC now owns 791,370 shares of the financial services provider’s stock valued at $22,143,000 after acquiring an additional 21,047 shares in the last quarter. Hedge funds and other institutional investors own 49.77% of the company’s stock.

Shares of Unity Bancorp stock opened at $27.75 on Friday. The firm has a 50-day simple moving average of $28.36 and a two-hundred day simple moving average of $27.81. The company has a market cap of $291.24 million, a P/E ratio of 8.00 and a beta of 1.07. Unity Bancorp has a fifty-two week low of $21.32 and a fifty-two week high of $31.37. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.04 and a current ratio of 1.04.

The business also recently declared a quarterly dividend, which will be paid on Friday, June 24th. Investors of record on Friday, June 10th will be given a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 1.59%. The ex-dividend date is Thursday, June 9th. This is an increase from Unity Bancorp’s previous quarterly dividend of $0.10. Unity Bancorp’s dividend payout ratio is 11.53%.

About Unity Bancorp (Get Rating)

Unity Bancorp, Inc operates as the holding company for Unity Bank that provides commercial and retail banking products and services to individuals, small and medium sized businesses, and professional communities. The company offers personal and business checking accounts, time deposits, money market accounts, and regular savings accounts, as well as noninterest and interest-bearing demand deposits.

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Earnings History and Estimates for Unity Bancorp (NASDAQ:UNTY)

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