Unity Bancorp (NASDAQ:UNTY) Director Sells $88,368.00 in Stock

Unity Bancorp, Inc. (NASDAQ:UNTY) Director Mark Brody sold 1,600 shares of the company’s stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $55.23, for a total value of $88,368.00. Following the sale, the director owned 113,854 shares of the company’s stock, valued at $6,288,156.42. This trade represents a 1.39% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

Unity Bancorp Stock Performance

Shares of Unity Bancorp stock opened at $55.86 on Monday. The stock has a fifty day simple moving average of $53.30 and a 200 day simple moving average of $52.77. Unity Bancorp, Inc. has a 12-month low of $41.67 and a 12-month high of $57.30. The company has a market capitalization of $560.83 million, a P/E ratio of 9.40 and a beta of 0.61. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.72.

Unity Bancorp (NASDAQ:UNTY) last announced its quarterly earnings results on Tuesday, April 14th. The financial services provider reported $1.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.37 by $0.03. Unity Bancorp had a return on equity of 16.06% and a net margin of 31.33%.The business had revenue of $33.61 million during the quarter, compared to the consensus estimate of $33.59 million. On average, sell-side analysts anticipate that Unity Bancorp, Inc. will post 5.84 earnings per share for the current fiscal year.

Unity Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 18th. Investors of record on Thursday, June 4th will be issued a dividend of $0.16 per share. The ex-dividend date is Thursday, June 4th. This represents a $0.64 annualized dividend and a yield of 1.1%. Unity Bancorp’s dividend payout ratio is 10.77%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. CWM LLC boosted its position in Unity Bancorp by 38.0% in the fourth quarter. CWM LLC now owns 857 shares of the financial services provider’s stock worth $44,000 after purchasing an additional 236 shares during the last quarter. Gator Capital Management LLC lifted its position in shares of Unity Bancorp by 0.8% during the 3rd quarter. Gator Capital Management LLC now owns 33,536 shares of the financial services provider’s stock valued at $1,639,000 after buying an additional 280 shares during the last quarter. Hsbc Holdings PLC grew its stake in shares of Unity Bancorp by 5.1% during the 2nd quarter. Hsbc Holdings PLC now owns 6,056 shares of the financial services provider’s stock worth $287,000 after acquiring an additional 295 shares during the period. BNP Paribas Financial Markets grew its stake in shares of Unity Bancorp by 14.8% during the 2nd quarter. BNP Paribas Financial Markets now owns 2,883 shares of the financial services provider’s stock worth $136,000 after acquiring an additional 372 shares during the period. Finally, Rhumbline Advisers increased its holdings in Unity Bancorp by 3.7% in the 2nd quarter. Rhumbline Advisers now owns 10,805 shares of the financial services provider’s stock worth $509,000 after acquiring an additional 385 shares during the last quarter. Hedge funds and other institutional investors own 42.31% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Brean Capital assumed coverage on Unity Bancorp in a research report on Wednesday, April 22nd. They issued a “buy” rating and a $61.00 price objective on the stock. DA Davidson assumed coverage on Unity Bancorp in a research report on Friday, May 15th. They issued a “buy” rating and a $68.00 price objective on the stock. Finally, Weiss Ratings raised Unity Bancorp from a “buy (b)” rating to a “buy (b+)” rating in a research report on Monday, May 4th. Five equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $64.75.

Unity Bancorp Company Profile

Unity Bancorp, Inc is a bank holding company headquartered in Morrisville, Pennsylvania, trading on the NASDAQ under the ticker UNTY. Through its primary subsidiary, Unity Bank, the company delivers a comprehensive suite of commercial and retail banking services to individuals, businesses and municipal clients in its regional markets.

Founded in 1906, Unity Bank maintains a network of conveniently located branches across Bucks County and adjacent areas of southeastern Pennsylvania. The company’s deposit portfolio includes checking and savings accounts, money market accounts and certificates of deposit, while its loan offerings encompass commercial real estate, construction and land development, agricultural and consumer lending solutions.

Beyond traditional deposit and lending activities, Unity Bancorp provides cash management and merchant services, as well as internet and mobile banking platforms designed to streamline day-to-day financial operations.