Unity Bancorp, Inc. (NASDAQ:UNTY - Get Free Report) SVP James Joseph Donovan sold 265 shares of Unity Bancorp stock in a transaction on Thursday, January 29th. The shares were sold at an average price of $52.11, for a total transaction of $13,809.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
James Joseph Donovan also recently made the following trade(s):
- On Thursday, January 15th, James Joseph Donovan sold 777 shares of Unity Bancorp stock. The stock was sold at an average price of $56.07, for a total transaction of $43,566.39.
Unity Bancorp Trading Up 2.9%
NASDAQ:UNTY opened at $55.52 on Tuesday. The company has a 50-day moving average price of $53.04 and a 200-day moving average price of $50.68. The stock has a market cap of $557.42 million, a price-to-earnings ratio of 9.79 and a beta of 0.66. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 0.72. Unity Bancorp, Inc. has a 12 month low of $36.65 and a 12 month high of $57.24.
Unity Bancorp (NASDAQ:UNTY - Get Free Report) 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 business had revenue of $33.70 million during the quarter, compared to analyst estimates of $33.39 million. Unity Bancorp had a net margin of 30.76% and a return on equity of 16.19%. Equities analysts predict that Unity Bancorp, Inc. will post 4.83 EPS for the current year.
Unity Bancorp Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Friday, December 19th. Investors of record on Friday, December 5th were given 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 payout ratio is currently 10.58%.
Institutional Investors Weigh In On Unity Bancorp
Institutional investors have recently made changes to their positions in the company. Ameritas Investment Partners Inc. increased its position in shares of Unity Bancorp by 41.7% during the second quarter. Ameritas Investment Partners Inc. now owns 748 shares of the financial services provider's stock valued at $35,000 after acquiring an additional 220 shares in the last quarter. CWM LLC increased its holdings in shares of Unity Bancorp by 38.0% in the 4th quarter. CWM LLC now owns 857 shares of the financial services provider's stock worth $44,000 after purchasing an additional 236 shares in the last quarter. Russell Investments Group Ltd. raised its stake in shares of Unity Bancorp by 159.1% in the third quarter. Russell Investments Group Ltd. now owns 987 shares of the financial services provider's stock worth $48,000 after purchasing an additional 606 shares during the last quarter. Strs Ohio purchased a new position in shares of Unity Bancorp in the first quarter worth $49,000. Finally, State of Alaska Department of Revenue lifted its holdings in shares of Unity Bancorp by 261.1% during the fourth quarter. State of Alaska Department of Revenue now owns 1,412 shares of the financial services provider's stock valued at $72,000 after purchasing an additional 1,021 shares in the last quarter. Hedge funds and other institutional investors own 42.31% of the company's stock.
Analyst Upgrades and Downgrades
UNTY has been the topic of a number of research reports. Weiss Ratings restated a "buy (b)" rating on shares of Unity Bancorp in a report on Wednesday, January 21st. Piper Sandler boosted their price objective on shares of Unity Bancorp from $64.00 to $65.00 and gave the stock an "overweight" rating in a research note on Thursday, January 15th. Wall Street Zen cut shares of Unity Bancorp from a "buy" rating to a "hold" rating in a report on Saturday, November 15th. Finally, Keefe, Bruyette & Woods raised their target price on shares of Unity Bancorp from $60.00 to $65.00 and gave the company an "outperform" rating in a research note on Wednesday, January 14th. Three research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $65.00.
Get Our Latest Research Report on UNTY
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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