Unity Bancorp, Inc. (NASDAQ:UNTY) Director Vincent Geraci Sells 1,811 Shares

Unity Bancorp, Inc. (NASDAQ:UNTY) Director Vincent Geraci sold 1,811 shares of the company’s stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $50.82, for a total value of $92,035.02. Following the completion of the transaction, the director now owns 8,312 shares in the company, valued at $422,415.84. This represents a 17.89 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Unity Bancorp Trading Down 2.6 %

NASDAQ:UNTY opened at $49.51 on Friday. The company has a market capitalization of $494.60 million, a P/E ratio of 12.19 and a beta of 1.03. The stock’s 50 day moving average price is $45.41 and its 200 day moving average price is $39.59. 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 52 week low of $25.60 and a 52 week high of $51.22.

Unity Bancorp (NASDAQ:UNTY) last announced its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.13 EPS 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%. On average, research analysts forecast that Unity Bancorp, Inc. will post 4.83 EPS for the current fiscal year.

Unity Bancorp Announces Dividend

The business also recently announced 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 was Friday, December 13th. This represents a $0.52 annualized dividend and a yield of 1.05%. Unity Bancorp’s dividend payout ratio (DPR) is currently 12.81%.

Analysts Set New Price Targets

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

Institutional Trading of Unity Bancorp

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Allworth Financial LP bought a new position in shares of Unity Bancorp in the 4th quarter valued at approximately $67,000. BNP Paribas Financial Markets grew its holdings in Unity Bancorp by 84.6% during the third quarter. BNP Paribas Financial Markets now owns 2,464 shares of the financial services provider’s stock valued at $84,000 after purchasing an additional 1,129 shares during the last quarter. SG Americas Securities LLC bought a new position in shares of Unity Bancorp in the fourth quarter valued at approximately $135,000. Princeton Capital Management LLC acquired a new stake in shares of Unity Bancorp in the third quarter worth $208,000. Finally, Los Angeles Capital Management LLC acquired a new position in Unity Bancorp in the 4th quarter valued at $218,000. Institutional investors and hedge funds own 42.31% of the company’s stock.

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.