StockNews.com lowered shares of Unity Bancorp (NASDAQ:UNTY – Free Report) from a buy rating to a hold rating in a research report released on Friday.
Separately, Keefe, Bruyette & Woods reiterated an outperform rating and issued a $39.00 price objective (up previously from $35.00) on shares of Unity Bancorp in a research note on Monday, July 15th.
Check Out Our Latest Report on UNTY
Unity Bancorp Trading Up 0.5 %
Unity Bancorp Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Friday, June 21st. Investors of record on Friday, June 7th were given a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 1.52%. The ex-dividend date of this dividend was Friday, June 7th. Unity Bancorp’s payout ratio is 13.72%.
Insiders Place Their Bets
In other news, Director Vincent Geraci sold 2,600 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $27.19, for a total transaction of $70,694.00. Following the completion of the sale, the director now owns 1,043 shares in the company, valued at $28,359.17. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 28.88% of the company’s stock.
Institutional Trading of Unity Bancorp
Hedge funds have recently bought and sold shares of the business. Hillsdale Investment Management Inc. lifted its stake in shares of Unity Bancorp by 18.5% in the fourth quarter. Hillsdale Investment Management Inc. now owns 3,200 shares of the financial services provider’s stock valued at $95,000 after buying an additional 500 shares in the last quarter. BNP Paribas Financial Markets raised its holdings in shares of Unity Bancorp by 80.3% in the 1st quarter. BNP Paribas Financial Markets now owns 3,389 shares of the financial services provider’s stock worth $94,000 after acquiring an additional 1,509 shares during the last quarter. SG Americas Securities LLC bought a new position in Unity Bancorp in the 4th quarter valued at about $117,000. O Shaughnessy Asset Management LLC boosted its stake in Unity Bancorp by 75.2% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 16,552 shares of the financial services provider’s stock valued at $457,000 after purchasing an additional 7,104 shares during the last quarter. Finally, GSA Capital Partners LLP increased its holdings in Unity Bancorp by 47.4% during the 1st quarter. GSA Capital Partners LLP now owns 16,649 shares of the financial services provider’s stock worth $460,000 after purchasing an additional 5,352 shares in the last quarter. Institutional investors and hedge funds own 42.31% of the company’s stock.
Unity Bancorp Company Profile
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.
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