Foundations Investment Advisors LLC Takes $219,000 Position in Unity Bancorp, Inc. (NASDAQ:UNTY)

Foundations Investment Advisors LLC acquired a new position in Unity Bancorp, Inc. (NASDAQ:UNTY) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 5,028 shares of the financial services provider’s stock, valued at approximately $219,000. Foundations Investment Advisors LLC owned approximately 0.05% of Unity Bancorp as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. JPMorgan Chase & Co. grew its stake in shares of Unity Bancorp by 79.3% in the third quarter. JPMorgan Chase & Co. now owns 88,231 shares of the financial services provider’s stock worth $3,005,000 after acquiring an additional 39,033 shares during the period. Inspire Investing LLC purchased a new stake in Unity Bancorp during the 4th quarter valued at $845,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Unity Bancorp during the 3rd quarter valued at $623,000. Barclays PLC boosted its stake in shares of Unity Bancorp by 93.1% in the 3rd quarter. Barclays PLC now owns 14,197 shares of the financial services provider’s stock worth $484,000 after buying an additional 6,846 shares during the last quarter. Finally, Princeton Capital Management LLC bought a new stake in shares of Unity Bancorp in the third quarter worth $208,000. Hedge funds and other institutional investors own 42.31% of the company’s stock.

Insider Activity at Unity Bancorp

In other news, SVP David G. Bove sold 4,167 shares of the business’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $46.78, for a total value of $194,932.26. Following the transaction, the senior vice president now owns 9,837 shares of the company’s stock, valued at approximately $460,174.86. The trade was a 29.76 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Mary E. Gross sold 3,300 shares of the company’s stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $48.04, for a total transaction of $158,532.00. Following the transaction, the director now owns 18,479 shares of the company’s stock, valued at approximately $887,731.16. This represents a 15.15 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 14,110 shares of company stock worth $658,174. 28.88% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

UNTY has been the topic of a number of recent research reports. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $55.00 target price (up previously from $51.00) on shares of Unity Bancorp in a report on Thursday, January 16th. Piper Sandler reissued an “overweight” rating and issued a $54.00 price objective (up previously from $53.00) on shares of Unity Bancorp in a report on Thursday, January 16th. Finally, StockNews.com cut shares of Unity Bancorp from a “buy” rating to a “hold” rating in a report on Tuesday, October 22nd.

Unity Bancorp Stock Performance

Shares of UNTY opened at $48.35 on Friday. The business has a 50-day simple moving average of $45.10 and a two-hundred day simple moving average of $39.03. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.97. Unity Bancorp, Inc. has a 52 week low of $25.33 and a 52 week high of $49.13. The stock has a market cap of $483.02 million, a price-to-earnings ratio of 11.91 and a beta of 1.03.

Unity Bancorp (NASDAQ:UNTY) last released its earnings results on Wednesday, January 15th. The financial services provider reported $1.13 earnings per share (EPS) for the quarter, topping the consensus estimate 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, analysts expect that Unity Bancorp, Inc. will post 4.83 EPS for the current year.

Unity Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, December 13th were paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.08%. The ex-dividend date of this dividend was Friday, December 13th. Unity Bancorp’s dividend payout ratio (DPR) is 12.81%.

Unity Bancorp Company Profile

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.