Unity Bancorp (NASDAQ:UNTY) Director Sells $87,112.74 in Stock

Unity Bancorp, Inc. (NASDAQ:UNTY) Director Vincent Geraci sold 1,573 shares of the firm’s stock in a transaction on Thursday, January 15th. The shares were sold at an average price of $55.38, for a total transaction of $87,112.74. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Unity Bancorp Trading Down 2.5%

Shares of Unity Bancorp stock opened at $54.01 on Monday. Unity Bancorp, Inc. has a fifty-two week low of $36.65 and a fifty-two week high of $57.24. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.15 and a current ratio of 1.15. The company has a market capitalization of $542.26 million, a P/E ratio of 9.53 and a beta of 0.65. The company has a fifty day moving average of $51.86 and a 200 day moving average of $50.60.

Unity Bancorp (NASDAQ:UNTY) last posted its quarterly earnings results on Tuesday, January 13th. The financial services provider reported $1.41 EPS for the quarter, beating analysts’ consensus estimates of $1.35 by $0.06. The business had revenue of $33.70 million for the quarter, compared to analysts’ expectations of $33.39 million. Unity Bancorp had a return on equity of 16.19% and a net margin of 30.76%. On average, sell-side analysts anticipate that Unity Bancorp, Inc. will post 4.83 earnings per share for the current fiscal year.

Unity Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 19th. Shareholders of record on Friday, December 5th were paid a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 1.1%. The ex-dividend date was Friday, December 5th. Unity Bancorp’s dividend payout ratio is presently 10.58%.

Wall Street Analysts Forecast Growth

UNTY has been the topic of several research analyst reports. Wall Street Zen downgraded shares of Unity Bancorp from a “buy” rating to a “hold” rating in a report on Saturday, November 15th. Keefe, Bruyette & Woods lifted their price target on shares of Unity Bancorp from $60.00 to $65.00 and gave the company an “outperform” rating in a report on Wednesday, January 14th. Piper Sandler increased their price objective on shares of Unity Bancorp from $64.00 to $65.00 and gave the company an “overweight” rating in a report on Thursday. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Unity Bancorp in a research report on Wednesday, October 8th. Three research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $65.00.

Hedge Funds Weigh In On Unity Bancorp

A number of institutional investors and hedge funds have recently made changes to their positions in UNTY. Ameritas Investment Partners Inc. raised its position in shares of Unity Bancorp by 41.7% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 748 shares of the financial services provider’s stock valued at $35,000 after buying an additional 220 shares in the last quarter. Russell Investments Group Ltd. increased its stake in Unity Bancorp by 159.1% during the third quarter. Russell Investments Group Ltd. now owns 987 shares of the financial services provider’s stock worth $48,000 after acquiring an additional 606 shares during the last quarter. Strs Ohio bought a new stake in Unity Bancorp during the first quarter worth approximately $49,000. AlphaQuest LLC purchased a new stake in Unity Bancorp during the third quarter valued at approximately $91,000. Finally, BNP Paribas Financial Markets lifted its stake in shares of Unity Bancorp by 14.8% in the 2nd quarter. BNP Paribas Financial Markets now owns 2,883 shares of the financial services provider’s stock valued at $136,000 after purchasing an additional 372 shares during the last quarter. 42.31% of the stock is owned by hedge funds and other institutional investors.

Unity Bancorp Company Profile

Unity Bancorp, Inc is a bank holding company headquartered in Morrisville, Pennsylvania, trading on the NASDAQ under the ticker UNTY. Through its primary subsidiary, Unity Bank, the company delivers a comprehensive suite of commercial and retail banking services to individuals, businesses and municipal clients in its regional markets.

Founded in 1906, Unity Bank maintains a network of conveniently located branches across Bucks County and adjacent areas of southeastern Pennsylvania. The company’s deposit portfolio includes checking and savings accounts, money market accounts and certificates of deposit, while its loan offerings encompass commercial real estate, construction and land development, agricultural and consumer lending solutions.

Beyond traditional deposit and lending activities, Unity Bancorp provides cash management and merchant services, as well as internet and mobile banking platforms designed to streamline day-to-day financial operations.