Unity Bancorp, Inc. (NASDAQ:UNTY) SVP James Joseph Donovan Sells 1,080 Shares

Unity Bancorp, Inc. (NASDAQ:UNTY) SVP James Joseph Donovan sold 1,080 shares of the company’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $48.88, for a total value of $52,790.40. Following the sale, the senior vice president now owns 4,975 shares of the company’s stock, valued at $243,178. The trade was a 17.84 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Unity Bancorp Stock Performance

NASDAQ UNTY opened at $49.92 on Thursday. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.16 and a current ratio of 1.16. The company has a market capitalization of $498.70 million, a PE ratio of 12.30 and a beta of 1.03. Unity Bancorp, Inc. has a 52-week low of $25.33 and a 52-week high of $50.36. The company has a 50-day simple moving average of $45.22 and a 200 day simple moving average of $39.43.

Unity Bancorp (NASDAQ:UNTY) last issued its 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 net margin of 25.24% and a return on equity of 15.08%. On average, research analysts predict that Unity Bancorp, Inc. will post 4.83 EPS for the current year.

Unity Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, December 13th were issued a dividend of $0.13 per share. 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 1.04%. Unity Bancorp’s dividend payout ratio is 12.81%.

Wall Street Analyst Weigh In

UNTY has been the topic of a number of recent analyst reports. StockNews.com downgraded shares of 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 set a $54.00 price target (up previously from $53.00) on shares of Unity Bancorp in a research report on Thursday, January 16th. Finally, Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $55.00 price objective (up from $51.00) on shares of Unity Bancorp in a research report on Thursday, January 16th.

Institutional Trading of Unity Bancorp

Several hedge funds have recently added to or reduced their stakes in the business. Allworth Financial LP purchased a new position in Unity Bancorp in the 4th quarter worth approximately $67,000. BNP Paribas Financial Markets increased its stake in shares of Unity Bancorp by 84.6% in the third quarter. BNP Paribas Financial Markets now owns 2,464 shares of the financial services provider’s stock worth $84,000 after buying an additional 1,129 shares during the period. SG Americas Securities LLC bought a new stake in Unity Bancorp during the 4th quarter valued at $135,000. Princeton Capital Management LLC bought a new stake in Unity Bancorp in the 3rd quarter worth $208,000. Finally, Los Angeles Capital Management LLC purchased a new position in shares of Unity Bancorp in the fourth quarter valued at about $218,000. 42.31% of the stock is owned by institutional investors.

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.