Unity Bancorp (NASDAQ:UNTY) was downgraded by ValuEngine from a “buy” rating to a “hold” rating in a report released on Friday.

Shares of Unity Bancorp (UNTY) opened at $20.55 on Friday. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 1.40. The firm has a market cap of $220.03, a PE ratio of 16.08 and a beta of 0.46. Unity Bancorp has a fifty-two week low of $13.74 and a fifty-two week high of $20.90.

Unity Bancorp (NASDAQ:UNTY) last posted its quarterly earnings data on Thursday, October 19th. The financial services provider reported $0.35 earnings per share (EPS) for the quarter. The business had revenue of $13.83 million for the quarter. Unity Bancorp had a net margin of 22.16% and a return on equity of 12.21%.

Institutional investors have recently modified their holdings of the stock. New York State Common Retirement Fund purchased a new position in Unity Bancorp in the second quarter worth approximately $143,000. Teachers Advisors LLC purchased a new stake in shares of Unity Bancorp during the 2nd quarter worth approximately $234,000. California State Teachers Retirement System purchased a new stake in shares of Unity Bancorp during the 2nd quarter worth approximately $236,000. Schwab Charles Investment Management Inc. purchased a new stake in shares of Unity Bancorp during the 2nd quarter worth approximately $238,000. Finally, Wells Fargo & Company MN purchased a new stake in shares of Unity Bancorp during the 3rd quarter worth approximately $352,000. Institutional investors own 47.31% of the company’s stock.

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Unity Bancorp Company Profile

Unity Bancorp, Inc is a bank holding company that serves as a holding company for Unity Bank (the Bank). The Company’s primary business is ownership and supervision of the Bank. The Company, through the Bank, conducts a traditional and community-oriented commercial banking business and offers services, such as personal and business checking accounts, time deposits, money market accounts and regular savings accounts.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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