Unity Bancorp, Inc. (NASDAQ:UNTY) Director Mary E. Gross Sells 3,300 Shares

Unity Bancorp, Inc. (NASDAQ:UNTY) Director Mary E. Gross sold 3,300 shares of the 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 sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Unity Bancorp Stock Down 0.0 %

Shares of NASDAQ:UNTY opened at $48.08 on Thursday. Unity Bancorp, Inc. has a fifty-two week low of $25.33 and a fifty-two week high of $49.03. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.97. The firm’s 50-day simple moving average is $44.99 and its 200-day simple moving average is $38.90. The company has a market cap of $480.32 million, a price-to-earnings ratio of 11.84 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 return on equity of 15.08% and a net margin of 25.24%. As a group, equities research analysts predict that Unity Bancorp, Inc. will post 4.83 earnings per share for the current year.

Unity Bancorp Dividend Announcement

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

Hedge Funds Weigh In On Unity Bancorp

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Geode Capital Management LLC lifted its stake in shares of Unity Bancorp by 0.3% in the third quarter. Geode Capital Management LLC now owns 152,590 shares of the financial services provider’s stock valued at $5,198,000 after purchasing an additional 492 shares during the period. State Street Corp increased its holdings in Unity Bancorp by 0.6% in the third quarter. State Street Corp now owns 94,750 shares of the financial services provider’s stock valued at $3,227,000 after buying an additional 607 shares in the last quarter. BNP Paribas Financial Markets lifted 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. Empowered Funds LLC boosted its stake in shares of Unity Bancorp by 5.1% during the 3rd quarter. Empowered Funds LLC now owns 33,303 shares of the financial services provider’s stock worth $1,134,000 after acquiring an additional 1,608 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new stake in shares of Unity Bancorp in the 4th quarter worth approximately $135,000. 42.31% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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