Insider Selling: Unity Bancorp, Inc. (NASDAQ:UNTY) SVP Sells 1,080 Shares of Stock

Unity Bancorp, Inc. (NASDAQ:UNTY) SVP James Joseph Donovan sold 1,080 shares of Unity Bancorp stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $48.88, for a total transaction of $52,790.40. Following the transaction, the senior vice president now directly owns 4,975 shares of the company’s stock, valued at $243,178. The trade was a 17.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Unity Bancorp Trading Up 1.9 %

Shares of UNTY traded up $0.91 during trading hours on Wednesday, reaching $49.92. 73,883 shares of the company traded hands, compared to its average volume of 45,817. The stock’s fifty day moving average price is $45.22 and its 200 day moving average price is $39.43. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.97. The firm has a market cap of $498.50 million, a price-to-earnings ratio of 12.30 and a beta of 1.03. Unity Bancorp, Inc. has a 12-month low of $25.33 and a 12-month high of $50.36.

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

Unity Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th were issued a dividend of $0.13 per share. The ex-dividend date of this dividend was Friday, December 13th. This represents a $0.52 annualized dividend and a yield of 1.04%. Unity Bancorp’s payout ratio is currently 12.81%.

Analysts Set New Price Targets

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

Institutional Investors Weigh In On Unity Bancorp

Institutional investors and hedge funds have recently bought and sold shares of the company. Los Angeles Capital Management LLC bought a new stake in shares of Unity Bancorp in the 4th quarter valued at about $218,000. Bank of New York Mellon Corp raised its stake in Unity Bancorp by 34.0% in the fourth quarter. Bank of New York Mellon Corp now owns 40,102 shares of the financial services provider’s stock worth $1,749,000 after buying an additional 10,167 shares in the last quarter. Allworth Financial LP purchased a new stake in Unity Bancorp during the fourth quarter worth $67,000. Empowered Funds LLC boosted its position in Unity Bancorp by 4.9% during the 4th quarter. Empowered Funds LLC now owns 34,932 shares of the financial services provider’s stock valued at $1,523,000 after acquiring an additional 1,629 shares in the last quarter. Finally, Foundations Investment Advisors LLC purchased a new position in shares of Unity Bancorp in the 4th quarter valued at $219,000. 42.31% of the stock is owned by institutional investors.

Unity Bancorp Company Profile

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.