Unity Bancorp (NASDAQ:UNTY) Director Vincent Geraci Sells 1,573 Shares

Unity Bancorp, Inc. (NASDAQ:UNTY) Director Vincent Geraci sold 1,573 shares of the business’s stock in a transaction on Thursday, January 15th. The shares were sold at an average price of $55.38, for a total transaction of $87,112.74. The sale was disclosed in a document filed with the SEC, which is available through this link.

Unity Bancorp Stock Down 2.5%

Shares of Unity Bancorp stock traded down $1.38 during midday trading on Friday, hitting $54.01. The company’s stock had a trading volume of 45,481 shares, compared to its average volume of 50,101. The firm has a market capitalization of $542.26 million, a P/E ratio of 9.53 and a beta of 0.65. Unity Bancorp, Inc. has a 1-year low of $36.65 and a 1-year high of $57.24. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 0.72. The stock has a 50-day simple moving average of $51.71 and a 200-day simple moving average of $50.54.

Unity Bancorp (NASDAQ:UNTY) last posted its quarterly earnings results on Tuesday, January 13th. The financial services provider reported $1.41 EPS for the quarter, beating the consensus estimate of $1.35 by $0.06. Unity Bancorp had a net margin of 30.76% and a return on equity of 16.19%. The business had revenue of $33.70 million for the quarter, compared to analysts’ expectations of $33.39 million. As a group, sell-side analysts expect that Unity Bancorp, Inc. will post 4.83 earnings per share for the current year.

Unity Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 19th. Stockholders of record on Friday, December 5th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date was Friday, December 5th. Unity Bancorp’s payout ratio is presently 11.36%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Weiss Ratings reissued a “buy (b)” rating on shares of Unity Bancorp in a research report on Wednesday, October 8th. Piper Sandler lifted their price objective on Unity Bancorp from $64.00 to $65.00 and gave the stock an “overweight” rating in a research note on Thursday. Wall Street Zen downgraded Unity Bancorp from a “buy” rating to a “hold” rating in a research note on Saturday, November 15th. Finally, Keefe, Bruyette & Woods raised their target price on Unity Bancorp from $60.00 to $65.00 and gave the company an “outperform” rating in a report on Wednesday. Three investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $65.00.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of UNTY. Ameritas Investment Partners Inc. increased its holdings in Unity Bancorp by 41.7% in the second quarter. Ameritas Investment Partners Inc. now owns 748 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 220 shares during the last quarter. Russell Investments Group Ltd. boosted its holdings in Unity Bancorp by 159.1% during the third quarter. Russell Investments Group Ltd. now owns 987 shares of the financial services provider’s stock worth $48,000 after buying an additional 606 shares during the last quarter. Strs Ohio acquired a new position in shares of Unity Bancorp during the 1st quarter worth about $49,000. AlphaQuest LLC acquired a new position in shares of Unity Bancorp during the 3rd quarter worth about $91,000. Finally, BNP Paribas Financial Markets increased its stake in shares of Unity Bancorp by 14.8% in the 2nd quarter. BNP Paribas Financial Markets now owns 2,883 shares of the financial services provider’s stock valued at $136,000 after acquiring an additional 372 shares during the last quarter. 42.31% of the stock is currently owned by institutional investors and hedge funds.

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.