Unity Bancorp, Inc. (NASDAQ:UNTY)’s share price passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $13.72 and traded as low as $12.70. Unity Bancorp shares last traded at $12.70, with a volume of 13,707 shares.
Separately, Zacks Investment Research raised shares of Unity Bancorp from a “strong sell” rating to a “hold” rating in a report on Saturday, July 18th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $20.50.
The company has a market cap of $135.62 million, a PE ratio of 6.20 and a beta of 1.28. The stock’s 50 day moving average price is $13.22 and its 200-day moving average price is $13.72. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.18 and a current ratio of 1.18.
Unity Bancorp (NASDAQ:UNTY) last announced its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $0.47 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.36 by $0.11. Unity Bancorp had a net margin of 25.79% and a return on equity of 13.99%. The company had revenue of $18.34 million during the quarter, compared to analysts’ expectations of $17.60 million. On average, analysts anticipate that Unity Bancorp, Inc. will post 1.9 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, September 11th will be paid a $0.08 dividend. The ex-dividend date of this dividend is Thursday, September 10th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 2.52%. Unity Bancorp’s dividend payout ratio (DPR) is 14.95%.
Several institutional investors have recently made changes to their positions in UNTY. Citigroup Inc. boosted its stake in shares of Unity Bancorp by 50.1% in the 1st quarter. Citigroup Inc. now owns 2,372 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 792 shares in the last quarter. Advisor Group Holdings Inc. purchased a new stake in Unity Bancorp during the 1st quarter valued at $41,000. Edge Wealth Management LLC purchased a new stake in Unity Bancorp during the 2nd quarter valued at $64,000. JPMorgan Chase & Co. boosted its position in Unity Bancorp by 24.3% during the 1st quarter. JPMorgan Chase & Co. now owns 13,762 shares of the financial services provider’s stock valued at $160,000 after buying an additional 2,692 shares during the period. Finally, Bank of America Corp DE boosted its position in Unity Bancorp by 12.5% during the 2nd quarter. Bank of America Corp DE now owns 11,224 shares of the financial services provider’s stock valued at $161,000 after buying an additional 1,248 shares during the period. 49.59% of the stock is owned by institutional investors.
Unity Bancorp Company Profile (NASDAQ:UNTY)
Unity Bancorp, Inc operates as the holding company for Unity Bank that provides a range of banking products and 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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