Mark Brody Sells 1,600 Shares of Unity Bancorp (NASDAQ:UNTY) Stock

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

Unity Bancorp Price Performance

UNTY traded down $0.53 during trading on Friday, hitting $55.72. The company’s stock had a trading volume of 54,399 shares, compared to its average volume of 47,285. The firm’s 50 day moving average price is $53.17 and its two-hundred day moving average price is $52.71. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.72. Unity Bancorp, Inc. has a 12 month low of $41.67 and a 12 month high of $57.30. The stock has a market capitalization of $559.43 million, a price-to-earnings ratio of 9.38 and a beta of 0.60.

Unity Bancorp (NASDAQ:UNTY) last issued its quarterly earnings data on Tuesday, April 14th. The financial services provider reported $1.40 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $33.61 million during the quarter, compared to the consensus estimate of $33.59 million. Sell-side analysts forecast that Unity Bancorp, Inc. will post 5.84 earnings per share for the current fiscal year.

Unity Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 18th. Shareholders of record on Thursday, June 4th will be given a $0.16 dividend. The ex-dividend date is Thursday, June 4th. This represents a $0.64 annualized dividend and a yield of 1.1%. Unity Bancorp’s payout ratio is presently 10.77%.

Wall Street Analyst Weigh In

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

Institutional Investors Weigh In On Unity Bancorp

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Empowered Funds LLC raised its position in shares of Unity Bancorp by 9.5% during the first quarter. Empowered Funds LLC now owns 49,848 shares of the financial services provider’s stock worth $2,584,000 after acquiring an additional 4,308 shares during the last quarter. Quantinno Capital Management LP raised its position in shares of Unity Bancorp by 33.0% during the first quarter. Quantinno Capital Management LP now owns 6,615 shares of the financial services provider’s stock worth $343,000 after acquiring an additional 1,643 shares during the last quarter. Renaissance Technologies LLC raised its position in shares of Unity Bancorp by 78.4% during the first quarter. Renaissance Technologies LLC now owns 15,700 shares of the financial services provider’s stock worth $814,000 after acquiring an additional 6,900 shares during the last quarter. Public Employees Retirement System of Ohio raised its position in shares of Unity Bancorp by 17.3% during the first quarter. Public Employees Retirement System of Ohio now owns 3,391 shares of the financial services provider’s stock worth $176,000 after acquiring an additional 500 shares during the last quarter. Finally, Hsbc Holdings PLC raised its position in shares of Unity Bancorp by 34.2% during the first quarter. Hsbc Holdings PLC now owns 7,113 shares of the financial services provider’s stock worth $367,000 after acquiring an additional 1,814 shares during the last quarter. Institutional investors own 42.31% of the company’s stock.

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.