Hsbc Holdings PLC Has $236,000 Position in Unity Bancorp, Inc. $UNTY

Hsbc Holdings PLC increased its position in Unity Bancorp, Inc. (NASDAQ:UNTY) by 20.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,761 shares of the financial services provider’s stock after buying an additional 993 shares during the quarter. Hsbc Holdings PLC owned 0.06% of Unity Bancorp worth $236,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in UNTY. American Century Companies Inc. boosted its holdings in Unity Bancorp by 41.7% in the first quarter. American Century Companies Inc. now owns 138,784 shares of the financial services provider’s stock valued at $5,649,000 after acquiring an additional 40,809 shares during the last quarter. Axecap Investments LLC bought a new stake in Unity Bancorp in the first quarter valued at approximately $1,237,000. Wellington Management Group LLP boosted its holdings in 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 valued at $13,561,000 after acquiring an additional 18,660 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Unity Bancorp in the first quarter valued at approximately $602,000. Finally, Nuveen LLC bought a new stake in Unity Bancorp in the first quarter valued at approximately $519,000. Institutional investors and hedge funds own 42.31% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on UNTY shares. Wall Street Zen cut Unity Bancorp from a “buy” rating to a “hold” rating in a report on Saturday, August 30th. Keefe, Bruyette & Woods increased their price target on Unity Bancorp from $55.00 to $63.00 and gave the stock an “outperform” rating in a report on Friday, July 18th. Two investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $56.50.

Unity Bancorp Price Performance

Shares of UNTY opened at $52.24 on Friday. Unity Bancorp, Inc. has a 12-month low of $31.44 and a 12-month high of $54.64. The business’s fifty day moving average is $50.65 and its 200 day moving average is $45.76. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 1.21. The stock has a market cap of $524.12 million, a P/E ratio of 10.57 and a beta of 0.79.

Unity Bancorp (NASDAQ:UNTY) last issued its earnings results on Tuesday, July 15th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.17 by $0.03. The company had revenue of $34.37 million for the quarter, compared to analysts’ expectations of $30.30 million. Unity Bancorp had a return on equity of 15.34% and a net margin of 28.72%. Sell-side analysts anticipate that Unity Bancorp, Inc. will post 4.83 earnings per share for the current fiscal year.

Unity Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 19th. Shareholders of record on Friday, September 5th will be issued a dividend of $0.15 per share. The ex-dividend date of this dividend is Friday, September 5th. This represents a $0.60 dividend on an annualized basis and a yield of 1.1%. This is a positive change from Unity Bancorp’s previous quarterly dividend of $0.14. Unity Bancorp’s payout ratio is presently 12.15%.

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.