Mark Brody Sells 1,600 Shares of Unity Bancorp (NASDAQ:UNTY) Stock

Unity Bancorp, Inc. (NASDAQ:UNTY) Director Mark Brody sold 1,600 shares of the business’s stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $55.23, for a total transaction of $88,368.00. Following the transaction, the director owned 113,854 shares of the company’s stock, valued at $6,288,156.42. This represents a 1.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Unity Bancorp Trading Down 0.7%

NASDAQ UNTY opened at $55.86 on Friday. The company has a market capitalization of $560.83 million, a PE ratio of 9.40 and a beta of 0.60. The company has a fifty day moving average of $53.30 and a 200 day moving average of $52.73. Unity Bancorp, Inc. has a 1 year low of $41.67 and a 1 year high of $57.30. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.17 and a quick ratio of 1.17.

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

Unity Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 18th. Shareholders of record on Thursday, June 4th will be given a $0.16 dividend. The ex-dividend date is Thursday, June 4th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.1%. Unity Bancorp’s dividend payout ratio is 10.77%.

Institutional Investors Weigh In On Unity Bancorp

Hedge funds have recently added to or reduced their stakes in the business. CWM LLC lifted its holdings in Unity Bancorp by 38.0% during the 4th 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. Russell Investments Group Ltd. raised its holdings in shares of Unity Bancorp by 159.1% in the 3rd quarter. Russell Investments Group Ltd. now owns 987 shares of the financial services provider’s stock valued at $48,000 after purchasing an additional 606 shares in the last quarter. Strs Ohio acquired a new stake in shares of Unity Bancorp in the 1st quarter valued at $49,000. State of Alaska Department of Revenue raised its holdings in shares of Unity Bancorp by 261.1% in the 4th quarter. State of Alaska Department of Revenue now owns 1,412 shares of the financial services provider’s stock valued at $72,000 after purchasing an additional 1,021 shares in the last quarter. Finally, AlphaQuest LLC acquired a new stake in shares of Unity Bancorp in the 3rd quarter valued at $91,000. 42.31% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on UNTY shares. DA Davidson initiated coverage on shares of Unity Bancorp in a research report on Friday, May 15th. They set a “buy” rating and a $68.00 price target for the company. Brean Capital began coverage on shares of Unity Bancorp in a research note on Wednesday, April 22nd. They issued a “buy” rating and a $61.00 price target for the company. Finally, Weiss Ratings raised shares of Unity Bancorp from a “buy (b)” rating to a “buy (b+)” rating in a research note on Monday, May 4th. Five equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $64.75.

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.