Unity Bancorp, Inc. (NASDAQ:UNTY) SVP Sells $52,790.40 in Stock

Unity Bancorp, Inc. (NASDAQ:UNTY) SVP James Joseph Donovan sold 1,080 shares of the business’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $48.88, for a total transaction of $52,790.40. Following the sale, the senior vice president now owns 4,975 shares of the company’s stock, valued at $243,178. This represents a 17.84 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Unity Bancorp Price Performance

Shares of UNTY opened at $49.51 on Friday. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.97. The stock’s 50 day moving average is $45.41 and its two-hundred day moving average is $39.59. Unity Bancorp, Inc. has a twelve month low of $25.60 and a twelve month high of $51.22. The firm has a market capitalization of $494.60 million, a PE ratio of 12.19 and a beta of 1.03.

Unity Bancorp (NASDAQ:UNTY) last announced its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.08 by $0.05. Unity Bancorp had a net margin of 25.24% and a return on equity of 15.08%. Research analysts anticipate that Unity Bancorp, Inc. will post 4.83 earnings per share for the current year.

Unity Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th were given a dividend of $0.13 per share. The ex-dividend date was Friday, December 13th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.05%. Unity Bancorp’s payout ratio is 12.81%.

Analysts Set New Price Targets

UNTY has been the subject of a number of research reports. Piper Sandler reissued an “overweight” rating and issued a $54.00 price target (up from $53.00) on shares of Unity Bancorp in a research report on Thursday, January 16th. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $55.00 target price (up from $51.00) on shares of Unity Bancorp in a report on Thursday, January 16th. Finally, StockNews.com downgraded Unity Bancorp from a “buy” rating to a “hold” rating in a research note on Tuesday, October 22nd.

Institutional Investors Weigh In On Unity Bancorp

Institutional investors have recently modified their holdings of the company. Allworth Financial LP purchased a new position in Unity Bancorp in the 4th quarter valued at approximately $67,000. BNP Paribas Financial Markets grew its holdings in Unity Bancorp by 84.6% in the third quarter. BNP Paribas Financial Markets now owns 2,464 shares of the financial services provider’s stock valued at $84,000 after purchasing an additional 1,129 shares during the last quarter. SG Americas Securities LLC purchased a new position in shares of Unity Bancorp in the fourth quarter valued at $135,000. Princeton Capital Management LLC acquired a new position in shares of Unity Bancorp during the 3rd quarter worth $208,000. Finally, Los Angeles Capital Management LLC purchased a new stake in shares of Unity Bancorp in the 4th quarter worth about $218,000. Hedge funds and other institutional investors own 42.31% of the company’s stock.

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.