Renaissance Technologies LLC Acquires 15,692 Shares of Unity Bancorp, Inc. (UNTY)

Renaissance Technologies LLC lifted its holdings in shares of Unity Bancorp, Inc. (NASDAQ:UNTY) by 43.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 51,801 shares of the financial services provider’s stock after buying an additional 15,692 shares during the period. Renaissance Technologies LLC owned about 0.48% of Unity Bancorp worth $1,178,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the company. Dimensional Fund Advisors LP grew its position in Unity Bancorp by 7.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 350,343 shares of the financial services provider’s stock valued at $7,707,000 after acquiring an additional 24,358 shares in the last quarter. Royce & Associates LP boosted its stake in shares of Unity Bancorp by 2.3% in the 2nd quarter. Royce & Associates LP now owns 268,121 shares of the financial services provider’s stock valued at $6,100,000 after buying an additional 5,987 shares during the period. Finally, BlackRock Inc. boosted its stake in shares of Unity Bancorp by 2.9% in the 2nd quarter. BlackRock Inc. now owns 373,250 shares of the financial services provider’s stock valued at $8,492,000 after buying an additional 10,480 shares during the period. Institutional investors own 48.41% of the company’s stock.

Shares of UNTY opened at $21.17 on Thursday. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.19 and a quick ratio of 1.19. The stock has a market capitalization of $237.27 million, a PE ratio of 11.60 and a beta of 0.39. Unity Bancorp, Inc. has a 1 year low of $19.00 and a 1 year high of $25.50.

Unity Bancorp (NASDAQ:UNTY) last announced its quarterly earnings data on Thursday, October 18th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.01). The company had revenue of $16.05 million during the quarter. Unity Bancorp had a net margin of 25.38% and a return on equity of 16.53%.

Several equities analysts have recently issued reports on UNTY shares. BidaskClub cut Unity Bancorp from a “strong-buy” rating to a “buy” rating in a research note on Saturday, September 15th. Keefe, Bruyette & Woods started coverage on Unity Bancorp in a research note on Wednesday, July 11th. They issued an “outperform” rating and a $29.50 price objective for the company.

Unity Bancorp Company Profile

Unity Bancorp, Inc operates as a bank holding company for Unity Bank that provides a range of business and consumer financial services to individuals, small and medium sized businesses, and professional communities. The company offers personal and business checking accounts, time deposits, money market accounts, and regular savings accounts.

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Institutional Ownership by Quarter for Unity Bancorp (NASDAQ:UNTY)

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