Unity Bancorp, Inc. (NASDAQ:UNTY) Director Sells $132,524.00 in Stock

Unity Bancorp, Inc. (NASDAQ:UNTY) Director Mark S. Brody sold 2,800 shares of the stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $47.33, for a total value of $132,524.00. Following the sale, the director now owns 70,002 shares of the company’s stock, valued at $3,313,194.66. This represents a 3.85 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Unity Bancorp Trading Down 1.8 %

UNTY traded down $0.82 during trading hours on Tuesday, reaching $45.85. 15,198 shares of the company’s stock traded hands, compared to its average volume of 19,770. The firm has a 50-day moving average price of $38.89 and a 200 day moving average price of $33.21. The firm has a market capitalization of $457.86 million, a PE ratio of 12.00 and a beta of 0.99. 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, Inc. has a 52-week low of $25.33 and a 52-week high of $48.22.

Unity Bancorp (NASDAQ:UNTY) last issued its earnings results on Friday, October 11th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.97 by $0.10. The firm had revenue of $27.66 million during the quarter, compared to analyst estimates of $26.40 million. Unity Bancorp had a net margin of 24.46% and a return on equity of 14.63%. As a group, sell-side analysts predict that Unity Bancorp, Inc. will post 4.01 EPS for the current fiscal year.

Unity Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.13%. The ex-dividend date of this dividend is Friday, December 13th. Unity Bancorp’s dividend payout ratio (DPR) is presently 13.37%.

Institutional Trading of Unity Bancorp

Large investors have recently modified their holdings of the company. Barclays PLC raised its position in Unity Bancorp by 93.1% during the 3rd quarter. Barclays PLC now owns 14,197 shares of the financial services provider’s stock valued at $484,000 after purchasing an additional 6,846 shares in the last quarter. Geode Capital Management LLC lifted its stake in Unity Bancorp by 0.3% in the third 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 during the period. State Street Corp grew its holdings in Unity Bancorp by 0.6% during the 3rd quarter. State Street Corp now owns 94,750 shares of the financial services provider’s stock worth $3,227,000 after acquiring an additional 607 shares in the last quarter. BNP Paribas Financial Markets increased its position in Unity Bancorp by 84.6% during the 3rd quarter. BNP Paribas Financial Markets now owns 2,464 shares of the financial services provider’s stock valued at $84,000 after purchasing an additional 1,129 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Unity Bancorp in the 3rd quarter valued at about $623,000. Hedge funds and other institutional investors own 42.31% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Piper Sandler reiterated an “overweight” rating and issued a $44.00 price target (up previously from $40.00) on shares of Unity Bancorp in a research report on Monday, October 14th. StockNews.com lowered Unity Bancorp from a “buy” rating to a “hold” rating in a report on Tuesday, October 22nd.

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.