Vincent Geraci Sells 1,811 Shares of Unity Bancorp, Inc. (NASDAQ:UNTY) Stock

Unity Bancorp, Inc. (NASDAQ:UNTY) Director Vincent Geraci sold 1,811 shares of the company’s stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $50.82, for a total value of $92,035.02. Following the completion of the sale, the director now directly owns 8,312 shares in the company, valued at approximately $422,415.84. The trade was a 17.89 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Unity Bancorp Stock Down 1.7 %

Shares of UNTY stock traded down $0.86 on Friday, hitting $49.99. The company’s stock had a trading volume of 9,466 shares, compared to its average volume of 44,021. Unity Bancorp, Inc. has a fifty-two week low of $25.60 and a fifty-two week high of $51.22. The firm’s fifty day moving average price is $45.41 and its 200-day moving average price is $39.59. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.16 and a quick ratio of 1.16. The stock has a market capitalization of $499.44 million, a price-to-earnings ratio of 12.24 and a beta of 1.03.

Unity Bancorp (NASDAQ:UNTY) last posted its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.13 EPS for the quarter, beating the consensus estimate of $1.08 by $0.05. Unity Bancorp had a return on equity of 15.08% and a net margin of 25.24%. Research analysts anticipate that Unity Bancorp, Inc. will post 4.83 EPS for the current year.

Unity Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th were issued a dividend of $0.13 per share. The ex-dividend date of this dividend was Friday, December 13th. This represents a $0.52 annualized dividend and a yield of 1.04%. Unity Bancorp’s dividend payout ratio is currently 12.81%.

Hedge Funds Weigh In On Unity Bancorp

A number of hedge funds and other institutional investors have recently made changes to their positions in UNTY. Allworth Financial LP acquired a new stake in shares of Unity Bancorp in the fourth quarter valued at approximately $67,000. BNP Paribas Financial Markets grew its holdings in shares of Unity Bancorp by 84.6% during the third quarter. BNP Paribas Financial Markets now owns 2,464 shares of the financial services provider’s stock worth $84,000 after purchasing an additional 1,129 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of Unity Bancorp in the 4th quarter valued at about $135,000. Princeton Capital Management LLC acquired a new stake in Unity Bancorp during the 3rd quarter worth about $208,000. Finally, Los Angeles Capital Management LLC bought a new position in Unity Bancorp during the fourth quarter worth $218,000. 42.31% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently issued reports on UNTY. StockNews.com downgraded shares of Unity Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday, October 22nd. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $55.00 price objective (up from $51.00) on shares of Unity Bancorp in a research note on Thursday, January 16th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $54.00 price objective (up previously from $53.00) on shares of Unity Bancorp in a research report on Thursday, January 16th.

About Unity Bancorp

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.