Unity Bancorp, Inc. (NASDAQ:UNTY) Shares Sold by Pacific Ridge Capital Partners LLC

Pacific Ridge Capital Partners LLC reduced its stake in Unity Bancorp, Inc. (NASDAQ:UNTY) by 4.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 205,267 shares of the financial services provider’s stock after selling 8,733 shares during the period. Unity Bancorp makes up approximately 1.5% of Pacific Ridge Capital Partners LLC’s portfolio, making the stock its 19th biggest position. Pacific Ridge Capital Partners LLC owned about 2.04% of Unity Bancorp worth $6,070,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently bought and sold shares of the company. Dimensional Fund Advisors LP raised its stake in shares of Unity Bancorp by 1.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 478,877 shares of the financial services provider’s stock valued at $14,159,000 after acquiring an additional 5,449 shares during the period. Vanguard Group Inc. raised its position in Unity Bancorp by 0.8% in the first quarter. Vanguard Group Inc. now owns 414,036 shares of the financial services provider’s stock valued at $11,427,000 after purchasing an additional 3,170 shares during the period. Bank of New York Mellon Corp lifted its stake in Unity Bancorp by 7.3% during the second quarter. Bank of New York Mellon Corp now owns 35,083 shares of the financial services provider’s stock worth $1,037,000 after purchasing an additional 2,393 shares in the last quarter. Inspire Investing LLC purchased a new position in shares of Unity Bancorp during the first quarter worth $884,000. Finally, Empowered Funds LLC boosted its position in shares of Unity Bancorp by 7.7% during the first quarter. Empowered Funds LLC now owns 29,535 shares of the financial services provider’s stock worth $815,000 after buying an additional 2,100 shares during the period. Institutional investors and hedge funds own 42.31% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on UNTY shares. StockNews.com lowered Unity Bancorp from a “buy” rating to a “hold” rating in a research note on Saturday, September 7th. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $39.00 price target (up previously from $35.00) on shares of Unity Bancorp in a research report on Monday, July 15th.

Unity Bancorp Stock Performance

NASDAQ:UNTY opened at $33.92 on Friday. Unity Bancorp, Inc. has a 52 week low of $22.50 and a 52 week high of $35.66. The company has a fifty day simple moving average of $33.16 and a two-hundred day simple moving average of $29.48. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 1.04. The company has a market cap of $338.52 million, a price-to-earnings ratio of 8.98 and a beta of 1.01.

Unity Bancorp (NASDAQ:UNTY) last released its earnings results on Friday, July 12th. The financial services provider reported $0.93 EPS for the quarter, missing the consensus estimate of $0.94 by ($0.01). The company had revenue of $25.46 million for the quarter, compared to analyst estimates of $25.81 million. Unity Bancorp had a return on equity of 14.71% and a net margin of 24.37%. As a group, equities analysts anticipate that Unity Bancorp, Inc. will post 3.8 earnings per share for the current fiscal year.

Unity Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Friday, September 6th were paid a dividend of $0.13 per share. The ex-dividend date of this dividend was Friday, September 6th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.53%. Unity Bancorp’s payout ratio is 13.72%.

Insider Activity at Unity Bancorp

In other Unity Bancorp news, SVP Minsu Kim sold 2,264 shares of the business’s stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $34.90, for a total transaction of $79,013.60. Following the completion of the transaction, the senior vice president now owns 3,975 shares in the company, valued at approximately $138,727.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Unity Bancorp news, SVP Minsu Kim sold 2,264 shares of the stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $34.90, for a total value of $79,013.60. Following the transaction, the senior vice president now directly owns 3,975 shares in the company, valued at $138,727.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP James Joseph Donovan sold 750 shares of the business’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $34.97, for a total value of $26,227.50. Following the completion of the sale, the senior vice president now directly owns 166 shares of the company’s stock, valued at $5,805.02. The disclosure for this sale can be found here. Insiders have sold a total of 3,046 shares of company stock valued at $106,265 over the last 90 days. 28.88% of the stock is owned by corporate insiders.

About Unity Bancorp

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.