Unity Bancorp, Inc. (NASDAQ:UNTY) Plans $0.16 Quarterly Dividend

Unity Bancorp, Inc. (NASDAQ:UNTY) declared a quarterly dividend on Thursday, May 21st. Shareholders of record on Thursday, June 4th will be given a dividend of 0.16 per share by the financial services provider on Thursday, June 18th. This represents a c) annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Thursday, June 4th.

Unity Bancorp has increased its dividend payment by an average of 0.1%annually over the last three years and has raised its dividend every year for the last 12 years. Unity Bancorp has a dividend payout ratio of 11.6% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Unity Bancorp to earn $6.30 per share next year, which means the company should continue to be able to cover its $0.64 annual dividend with an expected future payout ratio of 10.2%.

Unity Bancorp Price Performance

NASDAQ:UNTY opened at $55.30 on Friday. Unity Bancorp has a one year low of $41.67 and a one year high of $57.30. The company has a market cap of $555.21 million, a P/E ratio of 9.31 and a beta of 0.60. The firm’s fifty day moving average price is $52.64 and its two-hundred day moving average price is $52.37. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.17 and a quick ratio of 1.17.

Unity Bancorp (NASDAQ:UNTY) last released its quarterly earnings data on Tuesday, April 14th. The financial services provider reported $1.40 EPS for the quarter, beating the consensus estimate of $1.37 by $0.03. Unity Bancorp had a net margin of 31.33% and a return on equity of 16.06%. The firm had revenue of $33.61 million for the quarter, compared to the consensus estimate of $33.59 million. Equities analysts expect that Unity Bancorp will post 5.84 earnings per share for the current year.

About Unity Bancorp

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.