Kennedy Capital Management Inc. lifted its stake in shares of Unity Bancorp, Inc. (NASDAQ:UNTY) by 2.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 166,136 shares of the financial services provider’s stock after purchasing an additional 4,328 shares during the quarter. Kennedy Capital Management Inc. owned about 1.57% of Unity Bancorp worth $3,281,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently modified their holdings of UNTY. New York State Common Retirement Fund bought a new stake in Unity Bancorp in the second quarter worth about $143,000. Teachers Advisors LLC bought a new stake in Unity Bancorp in the second quarter worth about $234,000. California State Teachers Retirement System bought a new stake in Unity Bancorp in the second quarter worth about $236,000. Wells Fargo & Company MN bought a new stake in Unity Bancorp in the third quarter worth about $352,000. Finally, TIAA CREF Investment Management LLC bought a new stake in Unity Bancorp in the second quarter worth about $346,000. Institutional investors and hedge funds own 49.00% of the company’s stock.
Shares of Unity Bancorp, Inc. (NASDAQ:UNTY) opened at $22.70 on Wednesday. The company has a debt-to-equity ratio of 2.42, a current ratio of 1.25 and a quick ratio of 1.25. Unity Bancorp, Inc. has a 1 year low of $15.35 and a 1 year high of $22.95. The company has a market cap of $240.24, a PE ratio of 18.92 and a beta of 0.50.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 30th. Shareholders of record on Friday, March 16th will be issued a dividend of $0.06 per share. The ex-dividend date is Thursday, March 15th. This represents a $0.24 annualized dividend and a yield of 1.06%. Unity Bancorp’s payout ratio is presently 20.00%.
Separately, ValuEngine cut shares of Unity Bancorp from a “buy” rating to a “hold” rating in a research report on Friday, December 1st.
COPYRIGHT VIOLATION NOTICE: “Unity Bancorp, Inc. (UNTY) Position Raised by Kennedy Capital Management Inc.” was published by American Banking News and is the property of of American Banking News. If you are accessing this report on another domain, it was copied illegally and republished in violation of U.S. & international trademark & copyright laws. The correct version of this report can be read at https://www.americanbankingnews.com/2018/03/14/unity-bancorp-inc-unty-position-raised-by-kennedy-capital-management-inc.html.
About Unity Bancorp
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.
Receive News & Ratings for Unity Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Unity Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.