Unity Bancorp, Inc. (NASDAQ:UNTY) Director Mary E. Gross Sells 3,300 Shares

Unity Bancorp, Inc. (NASDAQ:UNTY) Director Mary E. Gross sold 3,300 shares of the stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $48.04, for a total value of $158,532.00. Following the completion of the sale, the director now owns 18,479 shares of the company’s stock, valued at approximately $887,731.16. This trade represents a 15.15 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Unity Bancorp Stock Performance

Shares of UNTY opened at $48.35 on Friday. The firm has a market cap of $483.02 million, a price-to-earnings ratio of 11.91 and a beta of 1.03. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.97. The business’s 50 day moving average is $45.10 and its two-hundred day moving average is $39.03. Unity Bancorp, Inc. has a 52-week low of $25.33 and a 52-week high of $49.13.

Unity Bancorp (NASDAQ:UNTY) last posted its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.13 EPS for the quarter, beating analysts’ consensus estimates of $1.08 by $0.05. Unity Bancorp had a net margin of 25.24% and a return on equity of 15.08%. Analysts forecast that Unity Bancorp, Inc. will post 4.83 EPS for the current fiscal year.

Unity Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, December 13th were paid a $0.13 dividend. The ex-dividend date was Friday, December 13th. This represents a $0.52 dividend on an annualized basis and a yield of 1.08%. Unity Bancorp’s dividend payout ratio (DPR) is 12.81%.

Institutional Trading of Unity Bancorp

Institutional investors and hedge funds have recently bought and sold shares of the company. Allworth Financial LP bought a new stake in shares of Unity Bancorp in the 4th quarter valued at approximately $67,000. Empowered Funds LLC boosted its holdings in Unity Bancorp by 4.9% in the fourth quarter. Empowered Funds LLC now owns 34,932 shares of the financial services provider’s stock worth $1,523,000 after purchasing an additional 1,629 shares during the period. Foundations Investment Advisors LLC bought a new stake in Unity Bancorp during the fourth quarter valued at $219,000. Inspire Investing LLC acquired a new stake in shares of Unity Bancorp during the fourth quarter worth $845,000. Finally, SG Americas Securities LLC bought a new position in shares of Unity Bancorp in the 4th quarter worth about $135,000. Institutional investors and hedge funds own 42.31% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on UNTY shares. StockNews.com downgraded shares of Unity Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday, October 22nd. Piper Sandler reaffirmed an “overweight” rating and set a $54.00 price target (up previously from $53.00) on shares of Unity Bancorp in a research note on Thursday, January 16th. Finally, Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $55.00 price objective (up from $51.00) on shares of Unity Bancorp in a research report on Thursday, January 16th.

About Unity Bancorp

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.