Unity Bancorp (NASDAQ:UNTY) Stock Rating Reaffirmed by Keefe, Bruyette & Woods

Unity Bancorp (NASDAQ:UNTY)‘s stock had its “outperform” rating restated by Keefe, Bruyette & Woods in a research report issued to clients and investors on Monday, Benzinga reports. They presently have a $39.00 target price on the financial services provider’s stock, up from their prior target price of $35.00. Keefe, Bruyette & Woods’ price target suggests a potential upside of 23.54% from the stock’s current price.

Separately, StockNews.com upgraded Unity Bancorp from a “hold” rating to a “buy” rating in a research note on Monday, July 8th.

Unity Bancorp Stock Performance

Shares of UNTY stock opened at $31.57 on Monday. Unity Bancorp has a 1-year low of $22.50 and a 1-year high of $32.51. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 1.16. The company has a market capitalization of $316.96 million, a price-to-earnings ratio of 8.33 and a beta of 1.02. The stock’s fifty day simple moving average is $27.50 and its 200-day simple moving average is $27.57.

Insider Buying and Selling

In other news, Director Vincent Geraci sold 2,600 shares of the stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $27.19, for a total value of $70,694.00. Following the transaction, the director now owns 1,043 shares of the company’s stock, valued at approximately $28,359.17. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 28.88% of the stock is owned by corporate insiders.

Institutional Trading of Unity Bancorp

A number of institutional investors have recently modified their holdings of the company. BNP Paribas Financial Markets increased its position in Unity Bancorp by 80.3% during the first quarter. BNP Paribas Financial Markets now owns 3,389 shares of the financial services provider’s stock worth $94,000 after buying an additional 1,509 shares during the last quarter. Hillsdale Investment Management Inc. increased its holdings in Unity Bancorp by 18.5% in the fourth quarter. Hillsdale Investment Management Inc. now owns 3,200 shares of the financial services provider’s stock valued at $95,000 after purchasing an additional 500 shares during the period. SG Americas Securities LLC acquired a new stake in Unity Bancorp during the 4th quarter worth about $117,000. O Shaughnessy Asset Management LLC boosted its position in shares of Unity Bancorp by 75.2% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 16,552 shares of the financial services provider’s stock worth $457,000 after purchasing an additional 7,104 shares in the last quarter. Finally, GSA Capital Partners LLP boosted its position in shares of Unity Bancorp by 47.4% during the 1st quarter. GSA Capital Partners LLP now owns 16,649 shares of the financial services provider’s stock worth $460,000 after purchasing an additional 5,352 shares in the last quarter. 42.31% of the stock is currently 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.