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

Unity Bancorp, Inc. (NASDAQ:UNTY) Director Mark S. Brody sold 1,600 shares of the company’s stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $48.32, for a total value of $77,312.00. Following the transaction, the director now directly owns 71,802 shares in the company, valued at approximately $3,469,472.64. This represents a 2.18 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Unity Bancorp Stock Performance

Shares of UNTY opened at $49.01 on Wednesday. Unity Bancorp, Inc. has a 12 month low of $25.33 and a 12 month high of $49.44. The stock has a fifty day moving average price of $45.15 and a 200-day moving average price of $39.33. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.97. The firm has a market cap of $489.61 million, a PE ratio of 12.07 and a beta of 1.03.

Unity Bancorp (NASDAQ:UNTY) last issued its earnings results on Wednesday, January 15th. The financial services provider reported $1.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.08 by $0.05. Unity Bancorp had a return on equity of 15.08% and a net margin of 25.24%. Equities research analysts predict that Unity Bancorp, Inc. will post 4.83 earnings per share for the current fiscal year.

Unity Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th were paid a dividend of $0.13 per share. The ex-dividend date of this dividend was Friday, December 13th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.06%. Unity Bancorp’s payout ratio is currently 12.81%.

Hedge Funds Weigh In On Unity Bancorp

A number of institutional investors have recently modified their holdings of the stock. Allworth Financial LP acquired a new stake in shares of Unity Bancorp during the 4th quarter valued at about $67,000. BNP Paribas Financial Markets grew its position in shares of Unity Bancorp by 84.6% during the 3rd quarter. BNP Paribas Financial Markets now owns 2,464 shares of the financial services provider’s stock valued at $84,000 after acquiring an additional 1,129 shares during the period. SG Americas Securities LLC acquired a new stake in shares of Unity Bancorp during the 4th quarter valued at about $135,000. Princeton Capital Management LLC acquired a new stake in shares of Unity Bancorp during the 3rd quarter valued at about $208,000. Finally, Los Angeles Capital Management LLC acquired a new stake in shares of Unity Bancorp during the 4th quarter valued at about $218,000. Hedge funds and other institutional investors own 42.31% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on UNTY shares. 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 research note on Thursday, January 16th. StockNews.com cut Unity Bancorp from a “buy” rating to a “hold” rating in a research note on Tuesday, October 22nd. Finally, Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $55.00 price objective (up previously from $51.00) on shares of Unity Bancorp in a research note 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.