Unity Bancorp (UNTY) Expected to Announce Quarterly Earnings on Friday

Unity Bancorp (NASDAQ:UNTY) is expected to be releasing its earnings data before the market opens on Friday, April 11th. Analysts expect Unity Bancorp to post earnings of $1.12 per share and revenue of $28.81 million for the quarter.

Unity Bancorp (NASDAQ:UNTY) last posted its earnings results on Wednesday, January 15th. The financial services provider reported $1.13 earnings per share (EPS) for the quarter, topping the consensus estimate 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, analysts expect Unity Bancorp to post $5 EPS for the current fiscal year and $5 EPS for the next fiscal year.

Unity Bancorp Stock Performance

NASDAQ UNTY opened at $41.22 on Thursday. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.16 and a quick ratio of 1.16. The company has a market cap of $414.59 million, a P/E ratio of 10.15 and a beta of 0.80. The stock has a 50-day moving average of $44.36 and a two-hundred day moving average of $43.06. Unity Bancorp has a 1-year low of $25.60 and a 1-year high of $51.22.

Unity Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were issued a $0.14 dividend. The ex-dividend date was Friday, March 14th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.36%. This is a boost from Unity Bancorp’s previous quarterly dividend of $0.13. Unity Bancorp’s payout ratio is 13.79%.

Analyst Upgrades and Downgrades

UNTY has been the subject of a number of recent research reports. Piper Sandler reiterated an “overweight” rating and issued a $54.00 target price (up from $53.00) on shares of Unity Bancorp in a report on Thursday, January 16th. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $55.00 target price (up previously from $51.00) on shares of Unity Bancorp in a report on Thursday, January 16th.

Insiders Place Their Bets

In other Unity Bancorp news, Director Mary E. Gross sold 3,300 shares of the 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 transaction, the director now owns 18,479 shares in the company, valued at approximately $887,731.16. This represents a 15.15 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Mark S. Brody sold 1,600 shares of the firm’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $48.32, for a total transaction of $77,312.00. Following the completion of the sale, the director now owns 71,802 shares of the company’s stock, valued at $3,469,472.64. This trade represents a 2.18 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 7,791 shares of company stock valued at $380,669. Insiders own 29.68% of the company’s stock.

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.