Unity Bancorp, Inc. (UNTY) to Issue Quarterly Dividend of $0.16 on June 18th

Unity Bancorp, Inc. (NASDAQ:UNTY) declared a quarterly dividend on Thursday, May 21st. Investors of record on Thursday, June 4th will be paid a dividend of 0.16 per share by the financial services provider on Thursday, June 18th. This represents a c) annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Thursday, June 4th.

Unity Bancorp has increased its dividend by an average of 0.1%per year over the last three years and has raised its dividend annually for the last 12 consecutive years. Unity Bancorp has a payout ratio of 11.6% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Unity Bancorp to earn $6.30 per share next year, which means the company should continue to be able to cover its $0.64 annual dividend with an expected future payout ratio of 10.2%.

Unity Bancorp Trading Down 1.3%

Shares of Unity Bancorp stock opened at $54.58 on Friday. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.17 and a quick ratio of 1.17. The firm has a fifty day moving average price of $52.74 and a 200 day moving average price of $52.39. Unity Bancorp has a 1 year low of $41.67 and a 1 year high of $57.30. The stock has a market cap of $547.98 million, a PE ratio of 9.19 and a beta of 0.60.

Unity Bancorp (NASDAQ:UNTY) last issued its earnings results on Tuesday, April 14th. The financial services provider reported $1.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.37 by $0.03. Unity Bancorp had a net margin of 31.33% and a return on equity of 16.06%. The firm had revenue of $33.61 million during the quarter, compared to analysts’ expectations of $33.59 million. Equities research analysts predict that Unity Bancorp will post 5.84 earnings per share for the current year.

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.