Unity Bancorp, Inc. (NASDAQ:UNTY) Director Sells $158,532.00 in Stock

Unity Bancorp, Inc. (NASDAQ:UNTY) Director Mary E. Gross sold 3,300 shares of the firm’s stock in a transaction dated Tuesday, January 28th. The shares were 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 directly owns 18,479 shares in the company, valued at $887,731.16. This trade represents a 15.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Unity Bancorp Trading Up 0.1 %

NASDAQ:UNTY opened at $48.15 on Friday. Unity Bancorp, Inc. has a one year low of $25.33 and a one year high of $49.13. The business’s 50-day simple moving average is $45.06 and its 200 day simple moving average is $38.97. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.16 and a current ratio of 1.16. The stock has a market cap of $481.02 million, a price-to-earnings ratio of 11.86 and a beta of 1.03.

Unity Bancorp (NASDAQ:UNTY) last released its earnings results on Wednesday, January 15th. The financial services provider reported $1.13 EPS for the quarter, beating 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%. As a group, sell-side analysts predict that Unity Bancorp, Inc. will post 4.83 earnings per share for the current fiscal year.

Unity Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th were issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 1.08%. The ex-dividend date of this dividend was Friday, December 13th. Unity Bancorp’s dividend payout ratio is currently 12.81%.

Institutional Investors Weigh In On Unity Bancorp

Institutional investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP grew its stake in Unity Bancorp by 1.2% in the second quarter. Dimensional Fund Advisors LP now owns 478,877 shares of the financial services provider’s stock worth $14,159,000 after purchasing an additional 5,449 shares in the last quarter. Geode Capital Management LLC grew its position in shares of 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 worth $5,198,000 after acquiring an additional 492 shares in the last quarter. State Street Corp increased its holdings in shares of Unity Bancorp by 0.6% in the 3rd quarter. State Street Corp now owns 94,750 shares of the financial services provider’s stock valued at $3,227,000 after acquiring an additional 607 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Unity Bancorp by 79.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 88,231 shares of the financial services provider’s stock valued at $3,005,000 after acquiring an additional 39,033 shares in the last quarter. Finally, Empowered Funds LLC lifted its stake in Unity Bancorp by 4.9% during the fourth quarter. Empowered Funds LLC now owns 34,932 shares of the financial services provider’s stock worth $1,523,000 after purchasing an additional 1,629 shares during the last quarter. Institutional investors and hedge funds own 42.31% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on UNTY. StockNews.com downgraded Unity Bancorp from a “buy” rating to a “hold” rating in a report on Tuesday, October 22nd. Piper Sandler reiterated an “overweight” rating and set a $54.00 price objective (up previously from $53.00) on shares of Unity Bancorp in a research note on Thursday, January 16th. Finally, Keefe, Bruyette & Woods restated an “outperform” rating and issued a $55.00 target price (up from $51.00) on shares of Unity Bancorp in a research note on Thursday, January 16th.

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.