Key Points
- SVP Minsu Kim sold 750 shares on Jan. 15 at an average price of $56.13 for about $42,097.50, cutting her position by 48.67% to 791 shares, according to an SEC filing.
- Unity Bancorp recently beat quarterly EPS estimates ($1.41 vs. $1.35) and shows strong profitability (net margin 30.76%, ROE 16.19%); analysts hold an average Buy rating with a $65 average price target, and the stock yields about 1.1% annually.
Unity Bancorp, Inc. (NASDAQ:UNTY - Get Free Report) SVP Minsu Kim sold 750 shares of the business's stock in a transaction dated Thursday, January 15th. The stock was sold at an average price of $56.13, for a total value of $42,097.50. Following the transaction, the senior vice president directly owned 791 shares of the company's stock, valued at approximately $44,398.83. The trade was a 48.67% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link.
Unity Bancorp Stock Down 2.5%
UNTY stock opened at $54.01 on Friday. The firm has a 50-day moving average price of $51.86 and a 200-day moving average price of $50.59. Unity Bancorp, Inc. has a 12 month low of $36.65 and a 12 month high of $57.24. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 0.72. The stock has a market capitalization of $542.21 million, a P/E ratio of 9.53 and a beta of 0.65.
Unity Bancorp (NASDAQ:UNTY - Get Free Report) last released its quarterly earnings data on Tuesday, January 13th. The financial services provider reported $1.41 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.35 by $0.06. The business had revenue of $33.70 million during the quarter, compared to analysts' expectations of $33.39 million. Unity Bancorp had a net margin of 30.76% and a return on equity of 16.19%. As a group, equities research analysts anticipate that Unity Bancorp, Inc. will post 4.83 EPS for the current fiscal year.
Unity Bancorp Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Friday, December 19th. Stockholders of record on Friday, December 5th were issued a dividend of $0.15 per share. The ex-dividend date was Friday, December 5th. This represents a $0.60 annualized dividend and a dividend yield of 1.1%. Unity Bancorp's dividend payout ratio is 10.58%.
Analysts Set New Price Targets
A number of equities research analysts recently weighed in on UNTY shares. Wall Street Zen lowered Unity Bancorp from a "buy" rating to a "hold" rating in a research report on Saturday, November 15th. Piper Sandler lifted their price target on Unity Bancorp from $64.00 to $65.00 and gave the company an "overweight" rating in a research note on Thursday. Weiss Ratings restated a "buy (b)" rating on shares of Unity Bancorp in a report on Wednesday, October 8th. Finally, Keefe, Bruyette & Woods upped their price objective on Unity Bancorp from $60.00 to $65.00 and gave the company an "outperform" rating in a research note on Wednesday. Three equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Unity Bancorp currently has an average rating of "Buy" and an average price target of $65.00.
Get Our Latest Analysis on Unity Bancorp
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently bought and sold shares of UNTY. Ameritas Investment Partners Inc. grew its position in shares of Unity Bancorp by 41.7% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 748 shares of the financial services provider's stock valued at $35,000 after buying an additional 220 shares during the last quarter. Gator Capital Management LLC raised its position in shares of Unity Bancorp by 0.8% during the third quarter. Gator Capital Management LLC now owns 33,536 shares of the financial services provider's stock worth $1,639,000 after acquiring an additional 280 shares during the last quarter. Hsbc Holdings PLC lifted its stake in shares of Unity Bancorp by 5.1% in the second quarter. Hsbc Holdings PLC now owns 6,056 shares of the financial services provider's stock worth $287,000 after acquiring an additional 295 shares during the period. BNP Paribas Financial Markets boosted its holdings in Unity Bancorp by 14.8% in the second quarter. BNP Paribas Financial Markets now owns 2,883 shares of the financial services provider's stock valued at $136,000 after acquiring an additional 372 shares during the last quarter. Finally, Rhumbline Advisers boosted its holdings in Unity Bancorp by 3.7% in the second quarter. Rhumbline Advisers now owns 10,805 shares of the financial services provider's stock valued at $509,000 after acquiring an additional 385 shares during the last quarter. 42.31% of the stock is owned by institutional investors and hedge funds.
Unity Bancorp Company Profile
(
Get Free Report)
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.
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