Unity Bancorp (NASDAQ:UNTY) SVP Minsu Kim Sells 750 Shares

Unity Bancorp, Inc. (NASDAQ:UNTY) SVP Minsu Kim sold 750 shares of the stock in a transaction dated Thursday, January 15th. The stock was sold at an average price of $56.13, for a total value of $42,097.50. Following the completion of the sale, the senior vice president directly owned 791 shares of the company’s stock, valued at approximately $44,398.83. This represents a 48.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Unity Bancorp Stock Performance

NASDAQ:UNTY traded down $1.38 during trading hours on Friday, hitting $54.01. 45,522 shares of the company traded hands, compared to its average volume of 50,111. Unity Bancorp, Inc. has a twelve month low of $36.65 and a twelve month high of $57.24. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 0.72. The stock has a market capitalization of $542.26 million, a price-to-earnings ratio of 9.53 and a beta of 0.65. The firm has a 50-day moving average of $51.71 and a 200 day moving average of $50.54.

Unity Bancorp (NASDAQ:UNTY) last announced its quarterly earnings data on Tuesday, January 13th. The financial services provider reported $1.41 EPS for the quarter, beating analysts’ consensus estimates of $1.35 by $0.06. Unity Bancorp had a return on equity of 16.19% and a net margin of 30.76%.The firm had revenue of $33.70 million for the quarter, compared to analyst estimates of $33.39 million. On average, analysts forecast that Unity Bancorp, Inc. will post 4.83 EPS for the current year.

Unity Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 19th. Shareholders of record on Friday, December 5th were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend was Friday, December 5th. Unity Bancorp’s payout ratio is 11.36%.

Analyst Upgrades and Downgrades

UNTY has been the subject of several recent analyst reports. Wall Street Zen cut shares of Unity Bancorp from a “buy” rating to a “hold” rating in a research report on Saturday, November 15th. Piper Sandler increased their target price on shares of Unity Bancorp from $64.00 to $65.00 and gave the company an “overweight” rating in a research report on Thursday. Keefe, Bruyette & Woods lifted their price target on Unity Bancorp from $60.00 to $65.00 and gave the company an “outperform” rating in a research report on Wednesday. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Unity Bancorp in a report on Wednesday, October 8th. Three equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, Unity Bancorp currently has an average rating of “Buy” and an average price target of $65.00.

Hedge Funds Weigh In On Unity Bancorp

Large investors have recently made changes to their positions in the company. Ameritas Investment Partners Inc. raised its stake in Unity Bancorp by 41.7% in the second quarter. Ameritas Investment Partners Inc. now owns 748 shares of the financial services provider’s stock worth $35,000 after buying an additional 220 shares in the last quarter. Russell Investments Group Ltd. raised its position in Unity Bancorp by 159.1% during the 3rd quarter. Russell Investments Group Ltd. now owns 987 shares of the financial services provider’s stock worth $48,000 after buying an additional 606 shares during the last quarter. Strs Ohio acquired a new position in shares of Unity Bancorp in the 1st quarter valued at $49,000. AlphaQuest LLC acquired a new position in shares of Unity Bancorp during the 3rd quarter worth approximately $91,000. Finally, BNP Paribas Financial Markets raised its position in shares of Unity Bancorp by 14.8% in the second quarter. BNP Paribas Financial Markets now owns 2,883 shares of the financial services provider’s stock valued at $136,000 after buying an additional 372 shares during the last quarter. 42.31% of the stock is owned by hedge funds and other institutional investors.

Unity Bancorp Company Profile

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.