Unity Bancorp, Inc. (UNTY) to Issue Quarterly Dividend of $0.16 on March 20th

Unity Bancorp, Inc. (NASDAQ:UNTY) declared a quarterly dividend on Thursday, February 26th. Investors of record on Friday, March 6th will be paid a dividend of 0.16 per share by the financial services provider on Friday, March 20th. This represents a c) dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Friday, March 6th. This is a 6.7% increase from Unity Bancorp’s previous quarterly dividend of $0.15.

Unity Bancorp has raised its dividend 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 payout ratio of 11.6% meaning its dividend is sufficiently covered by earnings. Analysts expect Unity Bancorp to earn $5.44 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 11.8%.

Unity Bancorp Stock Down 1.7%

Unity Bancorp stock opened at $53.02 on Wednesday. The firm has a market capitalization of $532.32 million, a price-to-earnings ratio of 9.35 and a beta of 0.66. The firm’s fifty day moving average price is $53.51 and its two-hundred day moving average price is $51.38. Unity Bancorp has a 1-year low of $36.65 and a 1-year high of $57.30. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 0.72.

Unity Bancorp (NASDAQ:UNTY) last issued its quarterly earnings data on Tuesday, January 13th. The financial services provider reported $1.41 EPS for the quarter, topping the consensus estimate of $1.35 by $0.06. The firm had revenue of $33.70 million during the quarter, compared to the consensus estimate of $33.39 million. Unity Bancorp had a return on equity of 16.19% and a net margin of 30.76%. On average, equities research analysts predict that Unity Bancorp will post 4.83 earnings per share for the current fiscal year.

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.