Unity Bancorp (NASDAQ:UNTY) Rating Lowered to Hold at StockNews.com

Unity Bancorp (NASDAQ:UNTYGet Free Report) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.

UNTY has been the topic of several other research reports. Keefe, Bruyette & Woods reiterated 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. Piper Sandler restated an “overweight” rating and issued a $44.00 target price (up previously from $40.00) on shares of Unity Bancorp in a research report on Monday, October 14th.

Read Our Latest Stock Analysis on Unity Bancorp

Unity Bancorp Stock Performance

NASDAQ UNTY opened at $38.02 on Tuesday. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 1.04. The firm has a market capitalization of $379.44 million, a price-to-earnings ratio of 9.77 and a beta of 1.01. The firm’s 50 day simple moving average is $33.80 and its 200 day simple moving average is $30.41. Unity Bancorp has a 1 year low of $22.50 and a 1 year high of $40.81.

Insider Buying and Selling at Unity Bancorp

In other Unity Bancorp news, SVP James Joseph Donovan sold 750 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $34.97, for a total value of $26,227.50. Following the sale, the senior vice president now owns 166 shares in the company, valued at $5,805.02. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Company insiders own 28.88% of the company’s stock.

Hedge Funds Weigh In On Unity Bancorp

Several large investors have recently modified their holdings of UNTY. Inspire Investing LLC bought a new position in shares of Unity Bancorp during the first quarter valued at $884,000. O Shaughnessy Asset Management LLC raised its stake in shares of Unity Bancorp by 75.2% during 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 acquiring an additional 7,104 shares during the last quarter. Ritholtz Wealth Management bought a new position in shares of Unity Bancorp during the second quarter valued at $202,000. Dimensional Fund Advisors LP raised its stake in shares of Unity Bancorp by 1.2% during the second 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 last quarter. Finally, GSA Capital Partners LLP raised its stake in shares of Unity Bancorp by 47.4% during the first quarter. GSA Capital Partners LLP now owns 16,649 shares of the financial services provider’s stock valued at $460,000 after acquiring an additional 5,352 shares during the last quarter. Institutional investors 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.

Further Reading

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