Key Points
- Director Robert Dallas II sold 7,088 shares on March 12 at an average price of $49.70 for $352,273.60, reducing his stake by 15.12% to 39,798 shares (about $1.98M); the sale was disclosed in an SEC filing.
- Unity Bancorp increased its quarterly dividend to $0.16 (from $0.15), implying a $0.64 annualized payout and a 1.3% yield, with an ex‑dividend date of March 6.
- The company reported a quarterly EPS beat of $1.41 versus $1.35 expected on $33.70M revenue, with a 30.76% net margin and 15.88% ROE, and analysts retain a consensus "Buy" rating with an average target of $65.00.
Unity Bancorp, Inc. (NASDAQ:UNTY - Get Free Report) Director Robert Dallas II sold 7,088 shares of the firm's stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $49.70, for a total value of $352,273.60. Following the completion of the sale, the director directly owned 39,798 shares in the company, valued at approximately $1,977,960.60. The trade was a 15.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.
Unity Bancorp Trading Up 0.3%
NASDAQ UNTY opened at $50.17 on Tuesday. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.16 and a quick ratio of 1.16. The company has a market cap of $502.50 million, a P/E ratio of 8.85 and a beta of 0.66. Unity Bancorp, Inc. has a 12 month low of $36.65 and a 12 month high of $57.30. The company has a 50-day moving average of $53.27 and a 200-day moving average of $51.39.
Unity Bancorp (NASDAQ:UNTY - Get Free Report) last announced its quarterly earnings results on Tuesday, January 13th. The financial services provider reported $1.41 earnings per share for the quarter, beating analysts' consensus estimates of $1.35 by $0.06. The company had revenue of $33.70 million for 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 15.88%. As a group, equities analysts predict that Unity Bancorp, Inc. will post 4.83 earnings per share for the current year.
Unity Bancorp Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 20th. Investors of record on Friday, March 6th will be issued a $0.16 dividend. The ex-dividend date is Friday, March 6th. This is a positive change from Unity Bancorp's previous quarterly dividend of $0.15. This represents a $0.64 annualized dividend and a yield of 1.3%. Unity Bancorp's payout ratio is 11.29%.
Institutional Inflows and Outflows
A number of large investors have recently bought and sold shares of UNTY. Ameritas Investment Partners Inc. lifted its stake in Unity Bancorp by 41.7% during the second quarter. Ameritas Investment Partners Inc. now owns 748 shares of the financial services provider's stock worth $35,000 after purchasing an additional 220 shares during the last quarter. CWM LLC lifted its holdings in Unity Bancorp by 38.0% in the fourth quarter. CWM LLC now owns 857 shares of the financial services provider's stock worth $44,000 after acquiring an additional 236 shares during the last quarter. Gator Capital Management LLC boosted its stake in Unity Bancorp by 0.8% in the third quarter. Gator Capital Management LLC now owns 33,536 shares of the financial services provider's stock valued at $1,639,000 after acquiring an additional 280 shares during the period. Hsbc Holdings PLC grew its holdings in shares of Unity Bancorp by 5.1% during the second quarter. Hsbc Holdings PLC now owns 6,056 shares of the financial services provider's stock valued at $287,000 after purchasing an additional 295 shares during the last quarter. Finally, BNP Paribas Financial Markets lifted its holdings in shares of Unity Bancorp by 14.8% in the 2nd quarter. BNP Paribas Financial Markets now owns 2,883 shares of the financial services provider's stock worth $136,000 after purchasing an additional 372 shares during the last quarter. Institutional investors own 42.31% of the company's stock.
Wall Street Analyst Weigh In
A number of brokerages recently weighed in on UNTY. Keefe, Bruyette & Woods upped their price target on shares of Unity Bancorp from $60.00 to $65.00 and gave the stock an "outperform" rating in a research report on Wednesday, January 14th. Weiss Ratings reissued a "buy (b)" rating on shares of Unity Bancorp in a research report on Wednesday, January 21st. Finally, Piper Sandler raised their price target on shares of Unity Bancorp from $64.00 to $65.00 and gave the company an "overweight" rating in a report on Thursday, January 15th. Three research analysts have rated the stock with a Buy rating, According to MarketBeat, Unity Bancorp currently has a consensus rating of "Buy" and an average target price of $65.00.
Get Our Latest Analysis on Unity Bancorp
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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