Janus Henderson Group PLC Buys Shares of 4,630 Unity Bancorp, Inc. (NASDAQ:UNTY)

Janus Henderson Group PLC purchased a new position in shares of Unity Bancorp, Inc. (NASDAQ:UNTY) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 4,630 shares of the financial services provider’s stock, valued at approximately $202,000.

Other hedge funds also recently modified their holdings of the company. Cetera Investment Advisers raised its stake in Unity Bancorp by 5.0% in the 4th quarter. Cetera Investment Advisers now owns 8,511 shares of the financial services provider’s stock valued at $371,000 after acquiring an additional 403 shares during the period. Bridgeway Capital Management LLC boosted its holdings in Unity Bancorp by 2.1% in the 4th quarter. Bridgeway Capital Management LLC now owns 78,799 shares of the financial services provider’s stock worth $3,436,000 after buying an additional 1,629 shares during the period. Bank of America Corp DE raised its holdings in Unity Bancorp by 24.2% during the 4th quarter. Bank of America Corp DE now owns 14,340 shares of the financial services provider’s stock valued at $625,000 after acquiring an additional 2,793 shares during the period. Ameriprise Financial Inc. lifted its position in shares of Unity Bancorp by 97.2% during the fourth quarter. Ameriprise Financial Inc. now owns 21,439 shares of the financial services provider’s stock worth $937,000 after acquiring an additional 10,567 shares in the last quarter. Finally, PDT Partners LLC bought a new position in shares of Unity Bancorp in the fourth quarter worth $250,000. Institutional investors own 42.31% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on UNTY. Wall Street Zen downgraded Unity Bancorp from a “buy” rating to a “hold” rating in a research note on Saturday. Piper Sandler lowered their price objective on Unity Bancorp from $54.00 to $50.00 and set an “overweight” rating on the stock in a research report on Monday, April 14th.

Insider Activity at Unity Bancorp

In other Unity Bancorp news, Director Donald E. Jr. Souders sold 1,333 shares of the business’s stock in a transaction on Thursday, April 24th. The shares were sold at an average price of $41.23, for a total value of $54,959.59. Following the completion of the sale, the director now directly owns 8,477 shares of the company’s stock, valued at $349,506.71. The trade was a 13.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 29.68% of the stock is currently owned by insiders.

Unity Bancorp Stock Up 0.8%

UNTY stock opened at $43.36 on Monday. The company’s 50 day moving average is $42.13 and its 200 day moving average is $44.36. The stock has a market cap of $434.94 million, a price-to-earnings ratio of 10.68 and a beta of 0.69. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.97. Unity Bancorp, Inc. has a 1-year low of $25.60 and a 1-year high of $51.22.

Unity Bancorp (NASDAQ:UNTY) last issued its quarterly earnings results on Friday, April 11th. The financial services provider reported $1.13 EPS for the quarter, topping analysts’ consensus estimates of $1.12 by $0.01. Unity Bancorp had a net margin of 25.24% and a return on equity of 15.08%. The firm had revenue of $29.35 million for the quarter, compared to analyst estimates of $28.81 million. During the same quarter in the prior year, the firm earned $0.93 EPS. Sell-side analysts predict that Unity Bancorp, Inc. will post 4.83 EPS for the current fiscal year.

Unity Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Friday, June 6th will be given a dividend of $0.14 per share. The ex-dividend date is Friday, June 6th. This represents a $0.56 annualized dividend and a dividend yield of 1.29%. Unity Bancorp’s dividend payout ratio (DPR) is presently 13.15%.

Unity Bancorp Company Profile

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.