Unity Bancorp, Inc. (NASDAQ:UNTY - Get Free Report) Director Donald E. Jr. Souders sold 1,333 shares of the stock in a transaction dated Thursday, April 24th. The stock was sold at an average price of $41.23, for a total value of $54,959.59. Following the transaction, the director now owns 8,477 shares of the company's stock, valued at approximately $349,506.71. This trade represents a 13.59 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.
Unity Bancorp Stock Down 1.4 %
UNTY opened at $41.46 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 fifty day simple moving average is $42.44 and its 200 day simple moving average is $43.62. Unity Bancorp, Inc. has a 1-year low of $25.60 and a 1-year high of $51.22. The stock has a market cap of $417.00 million, a PE ratio of 10.21 and a beta of 0.80.
Unity Bancorp (NASDAQ:UNTY - Get Free Report) last posted its earnings results on Friday, April 11th. The financial services provider reported $1.13 EPS for the quarter, beating the consensus estimate of $1.12 by $0.01. The company had revenue of $29.35 million for the quarter, compared to the consensus estimate of $28.81 million. Unity Bancorp had a return on equity of 15.08% and a net margin of 25.24%. During the same quarter in the prior year, the business earned $0.93 earnings per share. As a group, research analysts expect that Unity Bancorp, Inc. will post 4.83 earnings per share for the current year.
Unity Bancorp Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were issued a dividend of $0.14 per share. The ex-dividend date of this dividend was Friday, March 14th. This is a boost from Unity Bancorp's previous quarterly dividend of $0.13. This represents a $0.56 annualized dividend and a dividend yield of 1.35%. Unity Bancorp's dividend payout ratio (DPR) is currently 13.15%.
Wall Street Analysts Forecast Growth
Several research analysts recently commented on UNTY shares. Piper Sandler reduced their target price on shares of Unity Bancorp from $54.00 to $50.00 and set an "overweight" rating for the company in a report on Monday, April 14th. Keefe, Bruyette & Woods restated an "outperform" rating and issued a $55.00 price objective (up previously from $51.00) on shares of Unity Bancorp in a report on Thursday, January 16th.
View Our Latest Analysis on Unity Bancorp
Institutional Investors Weigh In On Unity Bancorp
Large investors have recently added to or reduced their stakes in the stock. Barclays PLC grew its stake in Unity Bancorp by 93.1% during the third quarter. Barclays PLC now owns 14,197 shares of the financial services provider's stock worth $484,000 after buying an additional 6,846 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of Unity Bancorp by 6.4% during the 4th quarter. Wellington Management Group LLP now owns 310,953 shares of the financial services provider's stock worth $13,561,000 after acquiring an additional 18,660 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Unity Bancorp by 79.3% in the third 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 during the last quarter. Inspire Investing LLC acquired a new position in Unity Bancorp during the fourth quarter valued at approximately $845,000. Finally, Geode Capital Management LLC lifted its stake in Unity Bancorp by 0.3% during the third quarter. Geode Capital Management LLC now owns 152,590 shares of the financial services provider's stock worth $5,198,000 after purchasing an additional 492 shares during the last quarter. Institutional investors and hedge funds own 42.31% of the company's stock.
Unity Bancorp Company Profile
(
Get Free Report)
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.
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