Inspire Investing LLC Invests $845,000 in Unity Bancorp, Inc. (NASDAQ:UNTY)

Inspire Investing LLC acquired a new position in Unity Bancorp, Inc. (NASDAQ:UNTY) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 19,370 shares of the financial services provider’s stock, valued at approximately $845,000. Inspire Investing LLC owned approximately 0.19% of Unity Bancorp at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in UNTY. JPMorgan Chase & Co. raised its position in shares of Unity Bancorp by 79.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 88,231 shares of the financial services provider’s stock worth $3,005,000 after acquiring an additional 39,033 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Unity Bancorp in the 3rd quarter valued at about $623,000. Barclays PLC increased its position in Unity Bancorp by 93.1% in the 3rd quarter. Barclays PLC now owns 14,197 shares of the financial services provider’s stock valued at $484,000 after buying an additional 6,846 shares in the last quarter. Princeton Capital Management LLC bought a new stake in Unity Bancorp in the 3rd quarter valued at about $208,000. Finally, Dimensional Fund Advisors LP increased its position in Unity Bancorp by 1.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 478,877 shares of the financial services provider’s stock valued at $14,159,000 after buying an additional 5,449 shares in the last quarter. 42.31% of the stock is owned by institutional investors.

Unity Bancorp Price Performance

UNTY stock opened at $48.04 on Friday. The company has a market capitalization of $479.73 million, a P/E ratio of 11.83 and a beta of 1.03. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.16 and a current ratio of 1.16. Unity Bancorp, Inc. has a 52-week low of $25.33 and a 52-week high of $48.45. The business has a 50-day simple moving average of $44.81 and a two-hundred day simple moving average of $38.35.

Unity Bancorp (NASDAQ:UNTY) last released its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.08 by $0.05. Unity Bancorp had a return on equity of 15.08% and a net margin of 25.24%. Research analysts expect that Unity Bancorp, Inc. will post 4.83 EPS for the current fiscal year.

Unity Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th were paid a $0.13 dividend. The ex-dividend date of this dividend was Friday, December 13th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.08%. Unity Bancorp’s payout ratio is presently 12.81%.

Analyst Ratings Changes

UNTY has been the subject of a number of research analyst reports. StockNews.com lowered Unity Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday, October 22nd. Piper Sandler reaffirmed an “overweight” rating and issued a $54.00 target price (up from $53.00) on shares of Unity Bancorp in a research report on Thursday, January 16th. Finally, Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $55.00 target price (up from $51.00) on shares of Unity Bancorp in a research report on Thursday, January 16th.

Insider Transactions at Unity Bancorp

In other news, SVP David G. Bove sold 4,167 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $46.78, for a total value of $194,932.26. Following the transaction, the senior vice president now owns 9,837 shares in the company, valued at $460,174.86. The trade was a 29.76 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Peter E. Maricondo sold 2,800 shares of Unity Bancorp stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $44.74, for a total transaction of $125,272.00. Following the completion of the sale, the director now directly owns 39,522 shares in the company, valued at $1,768,214.28. This trade represents a 6.62 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 10,810 shares of company stock worth $499,642 in the last 90 days. Insiders own 28.88% of the company’s stock.

About Unity Bancorp

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.