Unity Bancorp, Inc. $UNTY Shares Sold by Cetera Investment Advisers

Cetera Investment Advisers lowered its holdings in Unity Bancorp, Inc. (NASDAQ:UNTY) by 8.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,770 shares of the financial services provider’s stock after selling 741 shares during the period. Cetera Investment Advisers owned approximately 0.08% of Unity Bancorp worth $316,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in UNTY. Invesco Ltd. increased its position in shares of Unity Bancorp by 647.3% in the fourth quarter. Invesco Ltd. now owns 100,812 shares of the financial services provider’s stock worth $4,396,000 after acquiring an additional 87,321 shares in the last quarter. Axecap Investments LLC acquired a new stake in shares of Unity Bancorp in the first quarter worth $1,237,000. Raymond James Financial Inc. acquired a new stake in shares of Unity Bancorp in the fourth quarter worth $1,247,000. Wellington Management Group LLP increased its position in shares of Unity Bancorp by 6.4% in the fourth quarter. Wellington Management Group LLP now owns 310,953 shares of the financial services provider’s stock worth $13,561,000 after acquiring an additional 18,660 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Unity Bancorp in the first quarter worth $602,000. Institutional investors and hedge funds own 42.31% of the company’s stock.

Unity Bancorp Trading Down 1.3%

NASDAQ UNTY opened at $48.27 on Wednesday. Unity Bancorp, Inc. has a 12 month low of $31.44 and a 12 month high of $54.64. The company has a debt-to-equity ratio of 1.21, a current ratio of 1.20 and a quick ratio of 1.20. The company has a market capitalization of $484.15 million, a price-to-earnings ratio of 9.77 and a beta of 0.78. The company’s fifty day moving average price is $48.88 and its two-hundred day moving average price is $45.49.

Unity Bancorp (NASDAQ:UNTY) last posted its quarterly earnings data on Tuesday, July 15th. The financial services provider reported $1.20 EPS for the quarter, beating analysts’ consensus estimates of $1.17 by $0.03. Unity Bancorp had a net margin of 28.72% and a return on equity of 15.34%. The firm had revenue of $34.37 million for the quarter, compared to the consensus estimate of $30.30 million. As a group, research analysts predict that Unity Bancorp, Inc. will post 4.83 earnings per share for the current fiscal year.

Unity Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Friday, June 6th were paid a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date was Friday, June 6th. Unity Bancorp’s dividend payout ratio is 11.34%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Wall Street Zen upgraded shares of Unity Bancorp from a “hold” rating to a “buy” rating in a research note on Saturday, August 9th. Keefe, Bruyette & Woods upped their target price on shares of Unity Bancorp from $55.00 to $63.00 and gave the company an “outperform” rating in a research note on Friday, July 18th. Two analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $56.50.

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.