Janus Henderson Group PLC Takes $202,000 Position in Unity Bancorp, Inc. (NASDAQ:UNTY)

Janus Henderson Group PLC bought a new position in Unity Bancorp, Inc. (NASDAQ:UNTYFree Report) during the 4th quarter, Holdings Channel reports. The fund bought 4,630 shares of the financial services provider’s stock, valued at approximately $202,000.

A number of other hedge funds also recently bought and sold shares of the business. Allworth Financial LP bought a new stake in shares of Unity Bancorp in the 4th quarter worth approximately $67,000. SG Americas Securities LLC bought a new stake in Unity Bancorp in the fourth quarter valued at $135,000. State of Tennessee Department of Treasury purchased a new position in Unity Bancorp during the 4th quarter valued at $154,000. Wells Fargo & Company MN raised its holdings in Unity Bancorp by 25.8% in the 4th quarter. Wells Fargo & Company MN now owns 4,159 shares of the financial services provider’s stock worth $181,000 after purchasing an additional 852 shares in the last quarter. Finally, Thrivent Financial for Lutherans purchased a new stake in shares of Unity Bancorp in the 4th quarter worth about $200,000. Hedge funds and other institutional investors own 42.31% of the company’s stock.

Unity Bancorp Stock Performance

Shares of Unity Bancorp stock opened at $43.36 on Monday. The firm’s 50-day moving average is $42.13 and its 200 day moving average is $44.36. The stock has a market cap of $434.94 million, a price-to-earnings ratio of 10.68 and a beta of 0.69. Unity Bancorp, Inc. has a 1 year low of $25.60 and a 1 year high of $51.22. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.16 and a quick ratio of 1.16.

Unity Bancorp (NASDAQ:UNTYGet Free Report) last issued its earnings results on Friday, April 11th. The financial services provider reported $1.13 EPS for the quarter, beating the consensus estimate of $1.12 by $0.01. The business had revenue of $29.35 million for the quarter, compared to the consensus estimate of $28.81 million. Unity Bancorp had a return on equity of 15.08% and a net margin of 25.24%. During the same period last year, the business posted $0.93 EPS. Sell-side analysts anticipate that Unity Bancorp, Inc. will post 4.83 EPS for the current fiscal year.

Unity Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Friday, June 6th will be issued a $0.14 dividend. The ex-dividend date is Friday, June 6th. This represents a $0.56 annualized dividend and a yield of 1.29%. Unity Bancorp’s payout ratio is 13.15%.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Wall Street Zen downgraded Unity Bancorp from a “buy” rating to a “hold” rating in a report on Saturday. Piper Sandler decreased their target price on shares of Unity Bancorp from $54.00 to $50.00 and set an “overweight” rating for the company in a research note on Monday, April 14th.

Check Out Our Latest Stock Analysis on Unity Bancorp

Insider Activity

In other news, Director Donald E. Jr. Souders sold 1,333 shares of the company’s stock in a transaction dated Thursday, April 24th. The shares were sold at an average price of $41.23, for a total transaction of $54,959.59. Following the completion of the sale, the director now owns 8,477 shares of the company’s stock, valued at $349,506.71. This represents a 13.59% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 29.68% of the stock is owned by corporate insiders.

About Unity Bancorp

(Free Report)

Unity Bancorp, Inc operates as a bank holding company for Unity Bank that provides range of commercial and retail banking services to individuals, small and medium sized businesses, and professional communities. It offers personal and business checking accounts, time deposits, money market accounts, savings accounts, and retirement accounts, as well as noninterest and interest-bearing demand deposits.

Featured Stories

Want to see what other hedge funds are holding UNTY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Unity Bancorp, Inc. (NASDAQ:UNTYFree Report).

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

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.