Unity Bancorp (NASDAQ:UNTY) Share Price Passes Below Two Hundred Day Moving Average – Should You Sell?

Unity Bancorp, Inc. (NASDAQ:UNTY) crossed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $51.24 and traded as low as $50.97. Unity Bancorp shares last traded at $51.83, with a volume of 47,348 shares trading hands.

Wall Street Analysts Forecast Growth

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

Unity Bancorp Price Performance

The company has a market capitalization of $530.16 million, a price-to-earnings ratio of 9.33 and a beta of 0.64. The stock has a fifty day simple moving average of $52.58 and a 200-day simple moving average of $51.26. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.16 and a quick ratio of 1.16.

Unity Bancorp (NASDAQ:UNTY) last issued its quarterly earnings data on Tuesday, January 13th. The financial services provider reported $1.41 EPS 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 15.88%. On average, equities research analysts anticipate that Unity Bancorp, Inc. will post 4.83 EPS for the current year.

Unity Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 20th. Investors of record on Friday, March 6th were given a dividend of $0.16 per share. This is a boost from Unity Bancorp’s previous quarterly dividend of $0.15. This represents a $0.64 annualized dividend and a yield of 1.2%. The ex-dividend date was Friday, March 6th. Unity Bancorp’s dividend payout ratio (DPR) is 11.29%.

Insider Buying and Selling

In other Unity Bancorp news, Director Robert H. Dallas II sold 7,725 shares of the company’s stock in a transaction dated Friday, March 13th. The shares were sold at an average price of $49.60, for a total value of $383,160.00. Following the completion of the transaction, the director owned 32,073 shares in the company, valued at approximately $1,590,820.80. This represents a 19.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Vincent Geraci sold 1,573 shares of the stock in a transaction dated Thursday, January 15th. The stock was sold at an average price of $55.38, for a total transaction of $87,112.74. The SEC filing for this sale provides additional information. Insiders have sold 19,678 shares of company stock valued at $1,003,769 in the last ninety days. Company insiders own 28.87% of the company’s stock.

Hedge Funds Weigh In On Unity Bancorp

A number of hedge funds have recently bought and sold shares of the business. Alliancebernstein L.P. raised its stake in shares of Unity Bancorp by 2.4% during the 3rd quarter. Alliancebernstein L.P. now owns 357,310 shares of the financial services provider’s stock worth $17,462,000 after buying an additional 8,520 shares during the period. Geode Capital Management LLC grew its stake in Unity Bancorp by 0.8% in the 4th quarter. Geode Capital Management LLC now owns 169,355 shares of the financial services provider’s stock valued at $8,761,000 after acquiring an additional 1,291 shares during the period. American Century Companies Inc. increased its holdings in Unity Bancorp by 17.7% in the 2nd quarter. American Century Companies Inc. now owns 163,312 shares of the financial services provider’s stock worth $7,689,000 after acquiring an additional 24,528 shares in the last quarter. Maltese Capital Management LLC increased its holdings in Unity Bancorp by 2.4% in the 4th quarter. Maltese Capital Management LLC now owns 159,000 shares of the financial services provider’s stock worth $8,223,000 after acquiring an additional 3,700 shares in the last quarter. Finally, Royce & Associates LP raised its position in Unity Bancorp by 8.0% during the third quarter. Royce & Associates LP now owns 157,496 shares of the financial services provider’s stock worth $7,697,000 after acquiring an additional 11,676 shares during the period. Hedge funds and other institutional investors own 42.31% of the company’s stock.

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.