Unity Bancorp, Inc. (NASDAQ:UNTY - Get Free Report) Director Vincent Geraci sold 2,600 shares of the firm's stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $27.19, for a total transaction of $70,694.00. Following the transaction, the director now directly owns 1,043 shares in the company, valued at $28,359.17. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.
Unity Bancorp Stock Up 0.9 %
Unity Bancorp stock opened at $27.70 on Friday. The stock has a market capitalization of $280.88 million, a price-to-earnings ratio of 7.27 and a beta of 1.04. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 1.40. The stock has a 50 day moving average of $27.23 and a two-hundred day moving average of $27.09. Unity Bancorp, Inc. has a twelve month low of $20.01 and a twelve month high of $30.70.
Unity Bancorp Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were given a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 1.88%. This is a positive change from Unity Bancorp's previous quarterly dividend of $0.12. The ex-dividend date was Thursday, March 14th. Unity Bancorp's dividend payout ratio (DPR) is 13.65%.
Hedge Funds Weigh In On Unity Bancorp
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Institutional investors have recently bought and sold shares of the company. Bank of New York Mellon Corp lifted its stake in shares of Unity Bancorp by 2.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 42,425 shares of the financial services provider's stock worth $994,000 after acquiring an additional 1,023 shares during the period. Panagora Asset Management Inc. raised its holdings in Unity Bancorp by 11.7% during the fourth quarter. Panagora Asset Management Inc. now owns 20,540 shares of the financial services provider's stock worth $608,000 after purchasing an additional 2,150 shares in the last quarter. Janney Montgomery Scott LLC lifted its position in Unity Bancorp by 6.0% in the first quarter. Janney Montgomery Scott LLC now owns 20,007 shares of the financial services provider's stock valued at $552,000 after purchasing an additional 1,135 shares during the period. GSA Capital Partners LLP boosted its holdings in Unity Bancorp by 47.4% in the 1st quarter. GSA Capital Partners LLP now owns 16,649 shares of the financial services provider's stock valued at $460,000 after purchasing an additional 5,352 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new position in Unity Bancorp during the 4th quarter worth approximately $117,000. 42.31% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Separately, StockNews.com downgraded shares of Unity Bancorp from a "buy" rating to a "hold" rating in a research note on Friday, February 2nd.
Read Our Latest Stock Analysis on Unity Bancorp
About Unity Bancorp
(
Get Free Report)
Unity Bancorp, Inc operates as a bank holding company for Unity Bank that provides range of commercial and retail banking services to individuals, small and medium sized businesses, and professional communities. It offers personal and business checking accounts, time deposits, money market accounts, savings accounts, and retirement accounts, as well as noninterest and interest-bearing demand deposits.
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