Insider Selling: Unity Bancorp, Inc. (NASDAQ:UNTY) Director Sells $77,312.00 in Stock

Unity Bancorp, Inc. (NASDAQ:UNTY) Director Mark S. Brody sold 1,600 shares of the firm’s stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $48.32, for a total transaction of $77,312.00. Following the completion of the transaction, the director now owns 71,802 shares of the company’s stock, valued at approximately $3,469,472.64. This trade represents a 2.18 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Unity Bancorp Stock Performance

NASDAQ:UNTY opened at $49.92 on Thursday. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.16 and a current ratio of 1.16. Unity Bancorp, Inc. has a fifty-two week low of $25.33 and a fifty-two week high of $50.36. The company has a 50 day simple moving average of $45.22 and a two-hundred day simple moving average of $39.43. The company has a market capitalization of $498.70 million, a PE ratio of 12.30 and a beta of 1.03.

Unity Bancorp (NASDAQ:UNTY) last posted its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.13 earnings per share for the quarter, topping 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%. Research analysts anticipate that Unity Bancorp, Inc. will post 4.83 earnings per share for the current year.

Unity Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th were given a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 1.04%. The ex-dividend date was Friday, December 13th. Unity Bancorp’s dividend payout ratio (DPR) is presently 12.81%.

Institutional Investors Weigh In On Unity Bancorp

Several institutional investors and hedge funds have recently made changes to their positions in UNTY. Allworth Financial LP bought a new stake in Unity Bancorp in the fourth quarter worth approximately $67,000. BNP Paribas Financial Markets increased its stake in shares of Unity Bancorp by 84.6% in the 3rd quarter. BNP Paribas Financial Markets now owns 2,464 shares of the financial services provider’s stock valued at $84,000 after acquiring an additional 1,129 shares in the last quarter. SG Americas Securities LLC acquired a new position in shares of Unity Bancorp during the 4th quarter valued at $135,000. Los Angeles Capital Management LLC bought a new position in Unity Bancorp during the fourth quarter worth $218,000. Finally, Foundations Investment Advisors LLC acquired a new stake in Unity Bancorp in the fourth quarter worth $219,000. Institutional investors own 42.31% of the company’s stock.

Wall Street Analyst Weigh In

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