Unity Bancorp, Inc. (NASDAQ:UNTY) Director Sells $96,530.00 in Stock

Unity Bancorp, Inc. (NASDAQ:UNTY – Get Rating) Director Wayne Courtright sold 3,940 shares of the firm’s stock in a transaction on Tuesday, March 14th. The shares were sold at an average price of $24.50, for a total value of $96,530.00. Following the completion of the transaction, the director now owns 107,396 shares of the company’s stock, valued at approximately $2,631,202. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Unity Bancorp Stock Down 0.1 %

UNTY opened at $23.53 on Friday. The company has a quick ratio of 1.15, a current ratio of 1.22 and a debt-to-equity ratio of 1.64. The firm has a market cap of $248.83 million, a P/E ratio of 6.55 and a beta of 1.00. Unity Bancorp, Inc. has a 52 week low of $21.70 and a 52 week high of $30.00. The business’s fifty day simple moving average is $26.15 and its 200 day simple moving average is $26.87.

Unity Bancorp (NASDAQ:UNTY – Get Rating) last posted its quarterly earnings data on Friday, January 13th. The financial services provider reported $0.93 EPS for the quarter, missing analysts’ consensus estimates of $1.00 by ($0.07). Unity Bancorp had a net margin of 35.35% and a return on equity of 16.99%. The company had revenue of $26.66 million for the quarter, compared to analyst estimates of $25.60 million. As a group, equities research analysts anticipate that Unity Bancorp, Inc. will post 3.93 EPS for the current fiscal year.

Unity Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 24th. Shareholders of record on Friday, March 10th will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 2.04%. This is a positive change from Unity Bancorp’s previous quarterly dividend of $0.11. The ex-dividend date of this dividend is Thursday, March 9th. Unity Bancorp’s dividend payout ratio (DPR) is presently 13.37%.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. StockNews.com started coverage on Unity Bancorp in a research report on Thursday. They issued a “hold” rating for the company. TheStreet lowered Unity Bancorp from a “b” rating to a “c+” rating in a research note on Wednesday, February 1st. Finally, Janney Montgomery Scott started coverage on Unity Bancorp in a research note on Thursday, December 15th. They set a “buy” rating and a $32.00 price objective on the stock.

Institutional Trading of Unity Bancorp

A number of hedge funds have recently added to or reduced their stakes in UNTY. JPMorgan Chase & Co. boosted its stake in Unity Bancorp by 148.1% in the 1st quarter. JPMorgan Chase & Co. now owns 2,630 shares of the financial services provider’s stock worth $73,000 after buying an additional 1,570 shares during the last quarter. American Century Companies Inc. lifted its stake in shares of Unity Bancorp by 29.6% in the 1st quarter. American Century Companies Inc. now owns 31,234 shares of the financial services provider’s stock valued at $874,000 after purchasing an additional 7,128 shares in the last quarter. Citigroup Inc. acquired a new position in shares of Unity Bancorp in the 1st quarter valued at about $90,000. Dimensional Fund Advisors LP lifted its stake in shares of Unity Bancorp by 0.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 373,503 shares of the financial services provider’s stock valued at $10,451,000 after purchasing an additional 3,442 shares in the last quarter. Finally, Fourthstone LLC lifted its stake in shares of Unity Bancorp by 45.0% in the 1st quarter. Fourthstone LLC now owns 481,355 shares of the financial services provider’s stock valued at $13,468,000 after purchasing an additional 149,358 shares in the last quarter. 49.07% of the stock is owned by institutional investors and hedge funds.

Unity Bancorp Company Profile

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Unity Bancorp, Inc is a bank holding company, which engages in the ownership and supervision of Unity Bank. The firm accepts personal and business checking accounts, time deposits, money market accounts, regular savings accounts, and demand and savings deposits. Its loan portfolio comprises credit cards, mortgage, home equity, and personal loans.