Unity Bancorp (NASDAQ:UNTY) SVP Sells $43,566.39 in Stock

Unity Bancorp, Inc. (NASDAQ:UNTY) SVP James Joseph Donovan sold 777 shares of the business’s stock in a transaction dated Thursday, January 15th. The shares were sold at an average price of $56.07, for a total value of $43,566.39. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

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

• On Wednesday, October 22nd, James Joseph Donovan sold 167 shares of Unity Bancorp stock. The stock was sold at an average price of $48.30, for a total transaction of $8,066.10.

Unity Bancorp Price Performance

UNTY traded down $1.38 during trading on Friday, reaching $54.01. 45,522 shares of the company traded hands, compared to its average volume of 50,111. The company has a market cap of $542.26 million, a P/E ratio of 9.53 and a beta of 0.65. The firm has a fifty day simple moving average of $51.71 and a 200 day simple moving average of $50.54. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.15 and a current ratio of 1.15. Unity Bancorp, Inc. has a 12-month low of $36.65 and a 12-month high of $57.24.

Unity Bancorp (NASDAQ:UNTY) last posted its earnings results on Tuesday, January 13th. The financial services provider reported $1.41 earnings per share for the quarter, topping analysts’ consensus estimates of $1.35 by $0.06. The firm had revenue of $33.70 million for the quarter, compared to the consensus estimate of $33.39 million. Unity Bancorp had a net margin of 30.76% and a return on equity of 16.19%. On average, equities analysts forecast that Unity Bancorp, Inc. will post 4.83 EPS for the current year.

Unity Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 19th. Stockholders of record on Friday, December 5th were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date was Friday, December 5th. Unity Bancorp’s dividend payout ratio (DPR) is currently 11.36%.

Hedge Funds Weigh In On Unity Bancorp

Several institutional investors have recently modified their holdings of the company. JPMorgan Chase & Co. grew its stake in Unity Bancorp by 31.4% in the third quarter. JPMorgan Chase & Co. now owns 65,477 shares of the financial services provider’s stock valued at $3,200,000 after purchasing an additional 15,628 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its holdings in Unity Bancorp by 3.4% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 20,088 shares of the financial services provider’s stock valued at $982,000 after buying an additional 665 shares during the last quarter. Virtus Advisers LLC acquired a new position in Unity Bancorp during the 3rd quarter valued at $173,000. Verition Fund Management LLC bought a new position in Unity Bancorp during the third quarter valued at about $261,000. Finally, Polymer Capital Management US LLC increased its position in shares of Unity Bancorp by 8.0% during the third quarter. Polymer Capital Management US LLC now owns 6,402 shares of the financial services provider’s stock valued at $313,000 after purchasing an additional 476 shares during the period. Institutional investors own 42.31% of the company’s stock.

Analyst Ratings Changes

UNTY has been the subject of several research reports. Weiss Ratings restated a “buy (b)” rating on shares of Unity Bancorp in a research note on Wednesday, October 8th. Wall Street Zen lowered shares of Unity Bancorp from a “buy” rating to a “hold” rating in a report on Saturday, November 15th. Piper Sandler lifted their price objective on shares of Unity Bancorp from $64.00 to $65.00 and gave the company an “overweight” rating in a report on Thursday. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Unity Bancorp from $60.00 to $65.00 and gave the stock an “outperform” rating in a research report on Wednesday. Three investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $65.00.

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.