Unity Bancorp (NASDAQ:UNTY) Director Robert Dallas II Sells 7,725 Shares

Unity Bancorp, Inc. (NASDAQ:UNTY) Director Robert Dallas II sold 7,725 shares of the firm’s stock in a transaction on Friday, March 13th. The stock was sold at an average price of $49.60, for a total value of $383,160.00. Following the transaction, the director owned 32,073 shares of the company’s stock, valued at approximately $1,590,820.80. This represents a 19.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Unity Bancorp Trading Up 0.3%

Shares of UNTY stock traded up $0.16 on Monday, hitting $50.17. The stock had a trading volume of 57,501 shares, compared to its average volume of 47,787. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.16 and a quick ratio of 1.16. The firm has a market capitalization of $502.70 million, a P/E ratio of 8.85 and a beta of 0.66. Unity Bancorp, Inc. has a 1 year low of $36.65 and a 1 year high of $57.30. The company’s 50 day moving average price is $53.30 and its 200-day moving average price is $51.40.

Unity Bancorp (NASDAQ:UNTY) last posted its earnings results on Tuesday, January 13th. The financial services provider reported $1.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.35 by $0.06. Unity Bancorp had a return on equity of 15.88% and a net margin of 30.76%.The firm had revenue of $33.70 million for the quarter, compared to analyst estimates of $33.39 million. Analysts anticipate that Unity Bancorp, Inc. will post 4.83 earnings per share for the current year.

Unity Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 20th. Stockholders of record on Friday, March 6th will be 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 dividend yield of 1.3%. The ex-dividend date of this dividend is Friday, March 6th. Unity Bancorp’s dividend payout ratio is currently 11.29%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on UNTY shares. Weiss Ratings restated a “buy (b)” rating on shares of Unity Bancorp in a report on Wednesday, January 21st. Keefe, Bruyette & Woods increased their target price on shares of Unity Bancorp from $60.00 to $65.00 and gave the stock an “outperform” rating in a report on Wednesday, January 14th. Finally, Piper Sandler raised their price target 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. 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 a consensus target price of $65.00.

Institutional Investors Weigh In On Unity Bancorp

Several large investors have recently bought and sold shares of UNTY. Ameritas Investment Partners Inc. raised its position in Unity Bancorp by 41.7% in the 2nd 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 in the last quarter. CWM LLC grew its position in shares of Unity Bancorp by 38.0% during the fourth quarter. CWM LLC now owns 857 shares of the financial services provider’s stock worth $44,000 after buying an additional 236 shares in the last quarter. Gator Capital Management LLC grew its position in shares of Unity Bancorp by 0.8% during the third quarter. Gator Capital Management LLC now owns 33,536 shares of the financial services provider’s stock worth $1,639,000 after buying an additional 280 shares in the last quarter. Hsbc Holdings PLC increased its stake in shares of Unity Bancorp by 5.1% during the second quarter. Hsbc Holdings PLC now owns 6,056 shares of the financial services provider’s stock worth $287,000 after buying an additional 295 shares during the period. Finally, BNP Paribas Financial Markets increased its stake in shares of Unity Bancorp by 14.8% during the second quarter. BNP Paribas Financial Markets now owns 2,883 shares of the financial services provider’s stock worth $136,000 after buying an additional 372 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.