Insider Selling: Unity Bancorp, Inc. (NASDAQ:UNTY) Director Sells 1,600 Shares of Stock

Unity Bancorp, Inc. (NASDAQ:UNTY) Director Mark S. Brody sold 1,600 shares of the business’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $48.32, for a total value of $77,312.00. Following the transaction, 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 sale was disclosed in a document filed with the SEC, which can be accessed through this link.

Unity Bancorp Price Performance

Unity Bancorp stock traded down $0.87 during midday trading on Monday, hitting $47.48. The company’s stock had a trading volume of 36,013 shares, compared to its average volume of 42,038. Unity Bancorp, Inc. has a 12 month low of $25.33 and a 12 month high of $49.13. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.97. The company has a market capitalization of $474.33 million, a PE ratio of 11.69 and a beta of 1.03. The stock’s 50-day moving average price is $45.14 and its 200-day moving average price is $39.24.

Unity Bancorp (NASDAQ:UNTY) last announced its earnings results on Wednesday, January 15th. The financial services provider reported $1.13 earnings per share (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%. Analysts anticipate that Unity Bancorp, Inc. will post 4.83 earnings per share for the current fiscal year.

Unity Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, December 13th were paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 1.10%. The ex-dividend date of this dividend was Friday, December 13th. Unity Bancorp’s dividend payout ratio is 12.81%.

Institutional Trading of Unity Bancorp

Several large investors have recently added to or reduced their stakes in UNTY. Allworth Financial LP acquired a new stake in shares of Unity Bancorp in the fourth quarter worth $67,000. Empowered Funds LLC boosted its position in Unity Bancorp by 4.9% during the 4th quarter. Empowered Funds LLC now owns 34,932 shares of the financial services provider’s stock worth $1,523,000 after acquiring an additional 1,629 shares during the period. Foundations Investment Advisors LLC purchased a new position in Unity Bancorp during the 4th quarter valued at about $219,000. Inspire Investing LLC acquired a new position in shares of Unity Bancorp in the 4th quarter valued at about $845,000. Finally, SG Americas Securities LLC acquired a new stake in shares of Unity Bancorp during the fourth quarter worth approximately $135,000. 42.31% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

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.