28,794 Shares in Unity Bancorp, Inc. (NASDAQ:UNTY) Acquired by Delphi Management Inc. MA

Delphi Management Inc. MA purchased a new position in Unity Bancorp, Inc. (NASDAQ:UNTY) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 28,794 shares of the financial services provider’s stock, valued at approximately $1,256,000. Delphi Management Inc. MA owned approximately 0.29% of Unity Bancorp as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the company. Geode Capital Management LLC grew its position in Unity Bancorp by 0.3% in the 3rd quarter. Geode Capital Management LLC now owns 152,590 shares of the financial services provider’s stock valued at $5,198,000 after purchasing an additional 492 shares during the period. State Street Corp lifted its stake in shares of Unity Bancorp by 0.6% in the third quarter. State Street Corp now owns 94,750 shares of the financial services provider’s stock valued at $3,227,000 after buying an additional 607 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Unity Bancorp by 79.3% during the third quarter. JPMorgan Chase & Co. now owns 88,231 shares of the financial services provider’s stock valued at $3,005,000 after buying an additional 39,033 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Unity Bancorp by 34.0% in the 4th quarter. Bank of New York Mellon Corp now owns 40,102 shares of the financial services provider’s stock worth $1,749,000 after acquiring an additional 10,167 shares during the last quarter. Finally, Empowered Funds LLC lifted its position in Unity Bancorp by 4.9% in the 4th quarter. Empowered Funds LLC now owns 34,932 shares of the financial services provider’s stock valued at $1,523,000 after acquiring an additional 1,629 shares in the last quarter. Institutional investors and hedge funds own 42.31% of the company’s stock.

Insider Activity

In other Unity Bancorp news, Director Vincent Geraci sold 1,811 shares of the stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $50.82, for a total transaction of $92,035.02. Following the completion of the transaction, the director now directly owns 8,312 shares of the company’s stock, valued at approximately $422,415.84. This represents a 17.89 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Mary E. Gross sold 3,300 shares of the firm’s stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $48.04, for a total value of $158,532.00. Following the completion of the sale, the director now directly owns 18,479 shares of the company’s stock, valued at $887,731.16. This represents a 15.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 7,791 shares of company stock valued at $380,669 in the last three months. Company insiders own 28.88% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on the company. Piper Sandler reissued an “overweight” rating and set a $54.00 price objective (up from $53.00) on shares of Unity Bancorp in a report on Thursday, January 16th. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $55.00 price target (up from $51.00) on shares of Unity Bancorp in a research report on Thursday, January 16th.

Unity Bancorp Price Performance

Unity Bancorp stock opened at $42.08 on Tuesday. Unity Bancorp, Inc. has a 52 week low of $25.60 and a 52 week high of $51.22. The company’s 50 day moving average price is $46.07 and its two-hundred day moving average price is $42.14. The stock has a market cap of $423.24 million, a P/E ratio of 10.36 and a beta of 0.95. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.97.

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

Unity Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 1.33%. This is a boost from Unity Bancorp’s previous quarterly dividend of $0.13. The ex-dividend date is Friday, March 14th. Unity Bancorp’s payout ratio is presently 13.79%.

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.