Royce & Associates LP grew its holdings in Unity Bancorp, Inc. (NASDAQ:UNTY) by 19.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 321,593 shares of the financial services provider’s stock after acquiring an additional 53,472 shares during the quarter. Royce & Associates LP owned 2.99% of Unity Bancorp worth $7,364,000 at the end of the most recent reporting period.
Several other institutional investors have also made changes to their positions in UNTY. Renaissance Technologies LLC increased its holdings in shares of Unity Bancorp by 43.5% in the second quarter. Renaissance Technologies LLC now owns 51,801 shares of the financial services provider’s stock worth $1,178,000 after acquiring an additional 15,692 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Unity Bancorp by 4.2% in the second quarter. Dimensional Fund Advisors LP now owns 365,212 shares of the financial services provider’s stock worth $8,309,000 after acquiring an additional 14,869 shares in the last quarter. BlackRock Inc. increased its holdings in shares of Unity Bancorp by 2.9% in the second quarter. BlackRock Inc. now owns 373,250 shares of the financial services provider’s stock worth $8,492,000 after acquiring an additional 10,480 shares in the last quarter. Acadian Asset Management LLC increased its holdings in shares of Unity Bancorp by 950.0% in the third quarter. Acadian Asset Management LLC now owns 8,253 shares of the financial services provider’s stock worth $189,000 after acquiring an additional 7,467 shares in the last quarter. Finally, Tower Research Capital LLC TRC increased its holdings in shares of Unity Bancorp by 6,086.9% in the second quarter. Tower Research Capital LLC TRC now owns 6,125 shares of the financial services provider’s stock worth $140,000 after acquiring an additional 6,026 shares in the last quarter. Institutional investors own 48.35% of the company’s stock.
NASDAQ:UNTY opened at $21.30 on Friday. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 1.43. The stock has a market cap of $230.35 million, a P/E ratio of 11.51 and a beta of 0.52. Unity Bancorp, Inc. has a 52-week low of $19.50 and a 52-week high of $25.50.
Unity Bancorp (NASDAQ:UNTY) last posted its quarterly earnings data on Thursday, October 18th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.51 by ($0.01). The firm had revenue of $16.05 million for the quarter. Unity Bancorp had a return on equity of 16.20% and a net margin of 25.38%.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 28th. Investors of record on Friday, December 14th will be issued a dividend of $0.07 per share. The ex-dividend date of this dividend is Thursday, December 13th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.31%.
Separately, BidaskClub downgraded Unity Bancorp from a “strong-buy” rating to a “buy” rating in a report on Saturday, September 15th.
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About Unity Bancorp
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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