Insider Selling: Unity Bancorp (NASDAQ:UNTY) CEO Sells $81,750.00 in Stock

Unity Bancorp, Inc. (NASDAQ:UNTY) CEO James Hughes sold 1,500 shares of Unity Bancorp stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $54.50, for a total value of $81,750.00. Following the sale, the chief executive officer directly owned 173,013 shares of the company’s stock, valued at $9,429,208.50. This represents a 0.86% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Unity Bancorp Price Performance

Shares of NASDAQ UNTY opened at $54.25 on Friday. The stock’s 50-day simple moving average is $53.82 and its two-hundred day simple moving average is $51.11. Unity Bancorp, Inc. has a twelve month low of $36.65 and a twelve month high of $57.30. The firm has a market capitalization of $544.67 million, a P/E ratio of 9.57 and a beta of 0.66. 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 issued its quarterly earnings data on Tuesday, January 13th. The financial services provider reported $1.41 EPS for the quarter, topping the consensus estimate of $1.35 by $0.06. The company had revenue of $33.70 million during the quarter, compared to analyst estimates of $33.39 million. Unity Bancorp had a return on equity of 16.19% and a net margin of 30.76%. As a group, equities analysts anticipate that Unity Bancorp, Inc. will post 4.83 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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

Institutional Trading of Unity Bancorp

Several hedge funds have recently added to or reduced their stakes in the business. NewEdge Advisors LLC boosted its position in Unity Bancorp by 2,350.0% during the fourth quarter. NewEdge Advisors LLC now owns 4,949 shares of the financial services provider’s stock valued at $256,000 after buying an additional 4,747 shares during the period. Tudor Investment Corp ET AL bought a new stake in shares of Unity Bancorp in the 4th quarter valued at about $952,000. Quadrature Capital Ltd bought a new stake in shares of Unity Bancorp in the 4th quarter valued at about $411,000. Occudo Quantitative Strategies LP purchased a new stake in Unity Bancorp during the 4th quarter valued at about $309,000. Finally, AQR Capital Management LLC grew its position in Unity Bancorp by 34.0% during the 4th quarter. AQR Capital Management LLC now owns 15,648 shares of the financial services provider’s stock worth $809,000 after acquiring an additional 3,971 shares during the last quarter. 42.31% of the stock is owned by institutional investors.

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.