Unity Bancorp (NASDAQ:UNTY) SVP James Joseph Donovan Sells 265 Shares

Unity Bancorp, Inc. (NASDAQ:UNTY) SVP James Joseph Donovan sold 265 shares of the company’s stock in a transaction on Thursday, January 29th. The stock was sold at an average price of $52.11, for a total transaction of $13,809.15. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

James Joseph Donovan also recently made the following trade(s):

• On Thursday, January 15th, James Joseph Donovan sold 777 shares of Unity Bancorp stock. The shares were sold at an average price of $56.07, for a total transaction of $43,566.39.

Unity Bancorp Stock Performance

Shares of UNTY stock traded up $1.56 on Monday, reaching $55.52. The stock had a trading volume of 57,729 shares, compared to its average volume of 47,248. Unity Bancorp, Inc. has a 12 month low of $36.65 and a 12 month high of $57.24. The firm has a market capitalization of $557.42 million, a price-to-earnings ratio of 9.79 and a beta of 0.66. The firm’s 50-day moving average is $52.90 and its two-hundred day moving average is $50.66. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 0.72.

Unity Bancorp (NASDAQ:UNTY) last posted its quarterly earnings results 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. Unity Bancorp had a return on equity of 16.19% and a net margin of 30.76%.The business had revenue of $33.70 million during the quarter, compared to analysts’ expectations of $33.39 million. On average, research analysts expect that Unity Bancorp, Inc. will post 4.83 EPS for the current fiscal year.

Unity Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 19th. Shareholders of record on Friday, December 5th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 1.1%. The ex-dividend date was Friday, December 5th. Unity Bancorp’s payout ratio is currently 10.58%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Piper Sandler lifted their target price on shares of Unity Bancorp from $64.00 to $65.00 and gave the stock an “overweight” rating in a report on Thursday, January 15th. Keefe, Bruyette & Woods increased their price objective on Unity Bancorp from $60.00 to $65.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 14th. Weiss Ratings reissued a “buy (b)” rating on shares of Unity Bancorp in a research report on Wednesday, January 21st. Finally, Wall Street Zen lowered shares of Unity Bancorp from a “buy” rating to a “hold” rating in a research report on Saturday, November 15th. Three investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $65.00.

Institutional Investors Weigh In On Unity Bancorp

Institutional investors and hedge funds have recently bought and sold shares of the company. Alliancebernstein L.P. raised its position in shares of Unity Bancorp by 2.4% in the 3rd quarter. Alliancebernstein L.P. now owns 357,310 shares of the financial services provider’s stock valued at $17,462,000 after buying an additional 8,520 shares in the last quarter. Geode Capital Management LLC lifted its stake in Unity Bancorp by 4.3% during the second quarter. Geode Capital Management LLC now owns 164,189 shares of the financial services provider’s stock worth $7,732,000 after purchasing an additional 6,708 shares during the last quarter. American Century Companies Inc. lifted its stake in Unity Bancorp by 17.7% during the second quarter. American Century Companies Inc. now owns 163,312 shares of the financial services provider’s stock worth $7,689,000 after purchasing an additional 24,528 shares during the last quarter. Royce & Associates LP raised its holdings in shares of Unity Bancorp by 8.0% during the 3rd quarter. Royce & Associates LP now owns 157,496 shares of the financial services provider’s stock worth $7,697,000 after buying an additional 11,676 shares in the last quarter. Finally, Bridgeway Capital Management LLC lifted its position in shares of Unity Bancorp by 6.2% during the 3rd quarter. Bridgeway Capital Management LLC now owns 90,179 shares of the financial services provider’s stock worth $4,407,000 after buying an additional 5,248 shares during the last quarter. Institutional investors own 42.31% of the company’s stock.

About Unity Bancorp

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.