Unity Bancorp (NASDAQ:UNTY) President George Boyan Sells 845 Shares

Unity Bancorp, Inc. (NASDAQ:UNTY) President George Boyan sold 845 shares of Unity Bancorp stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $59.11, for a total transaction of $49,947.95. Following the completion of the transaction, the president owned 31,519 shares in the company, valued at approximately $1,863,088.09. This trade represents a 2.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

George Boyan also recently made the following trade(s):

• On Thursday, September 3rd, George Boyan sold 6,504 shares of Unity Bancorp stock. The shares were sold at an average price of $59.16, for a total transaction of $384,776.64.

Unity Bancorp Stock Up 1.8%

Shares of Unity Bancorp stock opened at $59.96 on Friday. Unity Bancorp, Inc. has a one year low of $44.34 and a one year high of $62.50. The company has a market cap of $602.00 million, a P/E ratio of 10.43 and a beta of 0.61. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.17 and a current ratio of 1.17. The firm has a fifty day moving average of $58.62 and a two-hundred day moving average of $55.30.

Unity Bancorp (NASDAQ:UNTY) last issued its earnings results on Tuesday, July 14th. The financial services provider reported $1.42 earnings per share for the quarter, missing the consensus estimate of $1.44 by ($0.02). The firm had revenue of $33.75 million during the quarter, compared to analysts’ expectations of $34.62 million. Unity Bancorp had a net margin of 30.26% and a return on equity of 16.10%. On average, analysts forecast that Unity Bancorp, Inc. will post 5.86 earnings per share for the current year.

Unity Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 17th. Stockholders of record on Thursday, September 3rd will be paid a dividend of $0.17 per share. This is a positive change from Unity Bancorp’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend is Thursday, September 3rd. This represents a $0.68 annualized dividend and a dividend yield of 1.1%. Unity Bancorp’s dividend payout ratio is presently 11.83%.

Institutional Investors Weigh In On Unity Bancorp

A number of institutional investors have recently added to or reduced their stakes in UNTY. CWM LLC lifted its position in Unity Bancorp by 38.0% during the fourth quarter. CWM LLC now owns 857 shares of the financial services provider’s stock valued at $44,000 after buying an additional 236 shares in the last quarter. Hsbc Holdings PLC lifted its holdings in shares of Unity Bancorp by 5.1% during the 2nd quarter. Hsbc Holdings PLC now owns 6,056 shares of the financial services provider’s stock valued at $287,000 after acquiring an additional 295 shares in the last quarter. Gator Capital Management LLC lifted its holdings in shares of Unity Bancorp by 0.9% during the 4th quarter. Gator Capital Management LLC now owns 33,851 shares of the financial services provider’s stock valued at $1,751,000 after acquiring an additional 315 shares in the last quarter. BNP Paribas Financial Markets boosted its position in Unity Bancorp by 14.8% during the 2nd quarter. BNP Paribas Financial Markets now owns 2,883 shares of the financial services provider’s stock worth $136,000 after purchasing an additional 372 shares during the period. Finally, Rhumbline Advisers boosted its position in Unity Bancorp by 3.7% during the 2nd quarter. Rhumbline Advisers now owns 10,805 shares of the financial services provider’s stock worth $509,000 after purchasing an additional 385 shares during the period. Hedge funds and other institutional investors own 42.31% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on UNTY shares. Weiss Ratings reissued a “buy (b+)” rating on shares of Unity Bancorp in a research note on Friday, July 31st. Piper Sandler upped their price objective on shares of Unity Bancorp from $65.00 to $68.00 and gave the company an “overweight” rating in a research note on Friday, June 26th. DA Davidson restated a “buy” rating and issued a $68.00 target price on shares of Unity Bancorp in a report on Wednesday, July 15th. Finally, Freedom Capital raised shares of Unity Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 16th. One equities research analyst has rated the stock with a Strong Buy rating and five have given a Buy rating to the company’s stock. According to MarketBeat.com, Unity Bancorp presently has a consensus rating of “Buy” and a consensus price target of $65.50.

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.