Unity Bancorp (NASDAQ:UNTY) CEO Sells $81,750.00 in Stock

Unity Bancorp, Inc. (NASDAQ:UNTY) CEO James Hughes sold 1,500 shares of the stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $54.50, for a total value of $81,750.00. Following the completion of the sale, the chief executive officer directly owned 173,013 shares in the company, valued at $9,429,208.50. This represents a 0.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Unity Bancorp Stock Performance

UNTY stock traded down $0.80 during mid-day trading on Thursday, reaching $53.41. The company had a trading volume of 48,367 shares, compared to its average volume of 49,387. Unity Bancorp, Inc. has a one year low of $36.65 and a one year high of $57.30. The stock has a market capitalization of $536.24 million, a P/E ratio of 9.42 and a beta of 0.66. 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’s 50-day simple moving average is $53.87 and its two-hundred day simple moving average is $51.03.

Unity Bancorp (NASDAQ:UNTY) last released its quarterly earnings data on Tuesday, January 13th. The financial services provider reported $1.41 earnings per share for the quarter, topping analysts’ consensus estimates of $1.35 by $0.06. The business had revenue of $33.70 million for the quarter, compared to analysts’ expectations of $33.39 million. Unity Bancorp had a net margin of 30.76% and a return on equity of 16.19%. Research analysts anticipate that Unity Bancorp, Inc. will post 4.83 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Ameritas Investment Partners Inc. raised its position in shares of Unity Bancorp by 41.7% during the second quarter. Ameritas Investment Partners Inc. now owns 748 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 220 shares during the period. CWM LLC increased its stake in Unity Bancorp by 38.0% in the 4th quarter. CWM LLC now owns 857 shares of the financial services provider’s stock worth $44,000 after purchasing an additional 236 shares in the last quarter. Russell Investments Group Ltd. raised its holdings in Unity Bancorp by 159.1% during the 3rd 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 period. Strs Ohio purchased a new stake in Unity Bancorp during the first quarter valued at about $49,000. Finally, State of Alaska Department of Revenue lifted its stake in Unity Bancorp by 261.1% during the fourth quarter. State of Alaska Department of Revenue now owns 1,412 shares of the financial services provider’s stock valued at $72,000 after buying an additional 1,021 shares in the last quarter. Institutional investors own 42.31% of the company’s stock.

Analysts Set New Price Targets

UNTY has been the subject of a number of recent analyst reports. Keefe, Bruyette & Woods increased their price objective on Unity Bancorp from $60.00 to $65.00 and gave the stock an “outperform” rating in a report on Wednesday, January 14th. Piper Sandler increased their price target on Unity Bancorp from $64.00 to $65.00 and gave the stock an “overweight” rating in a research note on Thursday, January 15th. Wall Street Zen lowered Unity Bancorp from a “buy” rating to a “hold” rating in a report on Saturday, November 15th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Unity Bancorp in a report on Wednesday, January 21st. Three analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $65.00.

About Unity Bancorp

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.