Unity Bancorp (NASDAQ:UNTY) Downgraded by StockNews.com

Unity Bancorp (NASDAQ:UNTYGet Free Report) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Wednesday.

Unity Bancorp Stock Performance

UNTY stock opened at $27.42 on Wednesday. Unity Bancorp has a 1-year low of $22.49 and a 1-year high of $30.70. The business has a 50-day moving average price of $27.29 and a 200 day moving average price of $27.59. The company has a market capitalization of $275.30 million, a P/E ratio of 7.20 and a beta of 1.04. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.18 and a quick ratio of 1.18.

Unity Bancorp (NASDAQ:UNTYGet Free Report) last posted its quarterly earnings results on Friday, April 12th. The financial services provider reported $0.93 EPS for the quarter, beating the consensus estimate of $0.91 by $0.02. Unity Bancorp had a net margin of 24.92% and a return on equity of 15.23%. The business had revenue of $25.56 million during the quarter, compared to analyst estimates of $25.15 million. As a group, equities research analysts forecast that Unity Bancorp will post 3.81 EPS for the current fiscal year.

Insider Activity

In other Unity Bancorp news, CEO James A. Hughes sold 1,156 shares of the business’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $27.28, for a total value of $31,535.68. Following the completion of the transaction, the chief executive officer now directly owns 137,735 shares in the company, valued at $3,757,410.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Unity Bancorp news, CEO James A. Hughes sold 1,156 shares of Unity Bancorp stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $27.28, for a total value of $31,535.68. Following the transaction, the chief executive officer now directly owns 137,735 shares of the company’s stock, valued at $3,757,410.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Vincent Geraci sold 2,600 shares of the company’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $27.19, for a total value of $70,694.00. Following the transaction, the director now directly owns 1,043 shares in the company, valued at $28,359.17. The disclosure for this sale can be found here. Company insiders own 28.88% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of UNTY. Hillsdale Investment Management Inc. grew its holdings in shares of Unity Bancorp by 18.5% during the fourth quarter. Hillsdale Investment Management Inc. now owns 3,200 shares of the financial services provider’s stock valued at $95,000 after buying an additional 500 shares during the last quarter. BNP Paribas Financial Markets lifted its position in Unity Bancorp by 80.3% during the 1st quarter. BNP Paribas Financial Markets now owns 3,389 shares of the financial services provider’s stock worth $94,000 after acquiring an additional 1,509 shares during the period. SG Americas Securities LLC purchased a new stake in Unity Bancorp during the 4th quarter valued at about $117,000. O Shaughnessy Asset Management LLC increased its holdings in shares of Unity Bancorp by 75.2% in the first quarter. O Shaughnessy Asset Management LLC now owns 16,552 shares of the financial services provider’s stock valued at $457,000 after purchasing an additional 7,104 shares during the period. Finally, GSA Capital Partners LLP raised its stake in shares of Unity Bancorp by 47.4% in the first quarter. GSA Capital Partners LLP now owns 16,649 shares of the financial services provider’s stock worth $460,000 after purchasing an additional 5,352 shares during the last quarter. Institutional investors and hedge funds own 42.31% of the company’s stock.

About Unity Bancorp

(Get Free Report)

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

Featured Articles

Receive News & Ratings for Unity Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Unity Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.