Key Points
- CEO James Hughes sold 1,500 shares on Feb. 18 at $54.50 for $81,750, trimming his stake by 0.86% to 173,013 shares worth about $9.43 million.
- Unity beat Q4 estimates, reporting $1.41 EPS vs. $1.35 expected and $33.7M revenue, with strong profitability (ROE 16.19%, net margin 30.76%); analysts have since lifted targets, leaving a consensus price target of $65.
- Market snapshot: UNTY traded around $53.82 (up 0.8%), has a market cap of ~$540M and a P/E of 9.48, while institutional investors own about 42.3% of the stock.
Unity Bancorp, Inc. (NASDAQ:UNTY - Get Free Report) 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 completion of the sale, the chief executive officer directly owned 173,013 shares of the company's stock, valued at $9,429,208.50. This trade represents a 0.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.
Unity Bancorp Trading Up 0.8%
Shares of UNTY traded up $0.41 on Friday, reaching $53.82. 14,502 shares of the company's stock were exchanged, compared to its average volume of 48,341. The business has a 50 day moving average price of $53.84 and a two-hundred day moving average price of $51.04. 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 $57.30. The stock has a market capitalization of $540.35 million, a P/E ratio of 9.48 and a beta of 0.66.
Unity Bancorp (NASDAQ:UNTY - Get Free Report) last posted its quarterly earnings results on Tuesday, January 13th. The financial services provider reported $1.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.35 by $0.06. Unity Bancorp had a return on equity of 16.19% and a net margin of 30.76%.The business had revenue of $33.70 million for the quarter, compared to analyst estimates of $33.39 million. Research analysts anticipate that Unity Bancorp, Inc. will post 4.83 earnings per share for the current year.
Wall Street Analysts Forecast Growth
Several equities research analysts have weighed in on the stock. Keefe, Bruyette & Woods increased their target price on shares of Unity Bancorp from $60.00 to $65.00 and gave the stock an "outperform" rating in a report on Wednesday, January 14th. Wall Street Zen lowered Unity Bancorp from a "buy" rating to a "hold" rating in a report on Saturday, November 15th. Piper Sandler increased their price target on Unity Bancorp from $64.00 to $65.00 and gave the stock an "overweight" rating in a report on Thursday, January 15th. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Unity Bancorp in a research report on Wednesday, January 21st. Three investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $65.00.
Check Out Our Latest Research Report on Unity Bancorp
Hedge Funds Weigh In On Unity Bancorp
Institutional investors have recently bought and sold shares of the business. Ameritas Investment Partners Inc. raised its stake in Unity Bancorp by 41.7% in the second 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 period. CWM LLC raised its stake in Unity Bancorp by 38.0% in the 4th quarter. CWM LLC now owns 857 shares of the financial services provider's stock valued at $44,000 after acquiring an additional 236 shares during the period. Russell Investments Group Ltd. lifted its holdings in Unity Bancorp by 159.1% during the 3rd quarter. Russell Investments Group Ltd. now owns 987 shares of the financial services provider's stock valued at $48,000 after purchasing an additional 606 shares during the last quarter. Strs Ohio acquired a new position in shares of Unity Bancorp in the first quarter valued at $49,000. Finally, State of Alaska Department of Revenue raised its position in shares of Unity Bancorp by 261.1% in 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 during the period. Institutional investors and hedge funds own 42.31% of the company's stock.
About Unity Bancorp
(
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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