Unity Bancorp, Inc. (NASDAQ:UNTY) has received an average broker rating score of 1.00 (Strong Buy) from the one brokers that cover the company, Zacks Investment Research reports. One investment analyst has rated the stock with a strong buy rating.

Analysts have set a 1-year consensus target price of $24.00 for the company and are anticipating that the company will post $0.51 EPS for the current quarter, according to Zacks. Zacks has also given Unity Bancorp an industry rank of 169 out of 255 based on the ratings given to related companies.

UNTY has been the subject of a number of research reports. ValuEngine raised shares of Unity Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday, January 18th. Zacks Investment Research cut shares of Unity Bancorp from a “hold” rating to a “sell” rating in a research note on Saturday, October 26th.

UNTY stock opened at $22.05 on Monday. The stock has a market capitalization of $235.00 million, a P/E ratio of 10.30 and a beta of 0.73. The firm has a 50-day simple moving average of $22.33 and a 200-day simple moving average of $21.43. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 1.42. Unity Bancorp has a 52 week low of $16.74 and a 52 week high of $24.70.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Friday, December 13th were paid a dividend of $0.08 per share. The ex-dividend date was Thursday, December 12th. This represents a $0.32 annualized dividend and a yield of 1.45%. Unity Bancorp’s dividend payout ratio is presently 14.95%.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Rhumbline Advisers grew its stake in Unity Bancorp by 9.4% during the 3rd quarter. Rhumbline Advisers now owns 12,341 shares of the financial services provider’s stock valued at $273,000 after acquiring an additional 1,060 shares in the last quarter. Northern Trust Corp boosted its holdings in Unity Bancorp by 2.2% in the 2nd quarter. Northern Trust Corp now owns 91,029 shares of the financial services provider’s stock valued at $2,066,000 after purchasing an additional 1,969 shares during the last quarter. State Street Corp boosted its holdings in Unity Bancorp by 2.1% in the 3rd quarter. State Street Corp now owns 125,295 shares of the financial services provider’s stock valued at $2,775,000 after purchasing an additional 2,558 shares during the last quarter. California Public Employees Retirement System boosted its holdings in Unity Bancorp by 5.9% in the 3rd quarter. California Public Employees Retirement System now owns 57,843 shares of the financial services provider’s stock valued at $1,281,000 after purchasing an additional 3,200 shares during the last quarter. Finally, Vanguard Group Inc. boosted its holdings in Unity Bancorp by 0.8% in the 2nd quarter. Vanguard Group Inc. now owns 337,185 shares of the financial services provider’s stock valued at $7,654,000 after purchasing an additional 2,774 shares during the last quarter. 50.83% of the stock is owned by institutional investors.

About Unity Bancorp

Unity Bancorp, Inc operates as the holding company for Unity Bank that provides a range of banking products and services to individuals, small and medium sized businesses, and professional communities. The company offers personal and business checking accounts, time deposits, money market accounts, and regular savings accounts.

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