Segall Bryant & Hamill LLC Invests $1.80 Million in Unity Bancorp, Inc. (NASDAQ:UNTY)

Segall Bryant & Hamill LLC purchased a new position in shares of Unity Bancorp, Inc. (NASDAQ:UNTY - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 41,167 shares of the financial services provider's stock, valued at approximately $1,795,000. Segall Bryant & Hamill LLC owned 0.41% of Unity Bancorp as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also added to or reduced their stakes in UNTY. Allworth Financial LP acquired a new stake in shares of Unity Bancorp during the fourth quarter worth about $67,000. BNP Paribas Financial Markets raised its position in Unity Bancorp by 84.6% during the 3rd quarter. BNP Paribas Financial Markets now owns 2,464 shares of the financial services provider's stock worth $84,000 after buying an additional 1,129 shares during the last quarter. SG Americas Securities LLC purchased a new stake in shares of Unity Bancorp in the 4th quarter valued at $135,000. Thrivent Financial for Lutherans acquired a new stake in shares of Unity Bancorp in the fourth quarter worth $200,000. Finally, Virtu Financial LLC acquired a new stake in shares of Unity Bancorp in the fourth quarter worth $207,000. Hedge funds and other institutional investors own 42.31% of the company's stock.

Insider Buying and Selling

In other news, Director Mary E. Gross sold 3,300 shares of the firm's stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $48.04, for a total value of $158,532.00. Following the transaction, the director now owns 18,479 shares in the company, valued at $887,731.16. This trade represents a 15.15 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP James Joseph Donovan sold 1,080 shares of the stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $48.88, for a total value of $52,790.40. Following the completion of the transaction, the senior vice president now directly owns 4,975 shares of the company's stock, valued at approximately $243,178. This represents a 17.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 7,791 shares of company stock valued at $380,669. 29.68% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Piper Sandler reaffirmed an "overweight" rating and issued a $54.00 price target (up from $53.00) on shares of Unity Bancorp in a report on Thursday, January 16th. Keefe, Bruyette & Woods reissued an "outperform" rating and issued a $55.00 price objective (up previously from $51.00) on shares of Unity Bancorp in a report on Thursday, January 16th.

Unity Bancorp Price Performance

Shares of Unity Bancorp stock traded up $0.17 during trading hours on Wednesday, reaching $41.57. The stock had a trading volume of 3,011 shares, compared to its average volume of 26,207. Unity Bancorp, Inc. has a twelve month low of $25.60 and a twelve month high of $51.22. 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 capitalization of $418.11 million, a PE ratio of 10.24 and a beta of 0.95. The stock's 50 day moving average is $45.60 and its 200 day moving average is $42.84.

Unity Bancorp (NASDAQ:UNTY - Get Free Report) last issued its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.13 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.08 by $0.05. Unity Bancorp had a return on equity of 15.08% and a net margin of 25.24%. Equities analysts expect that Unity Bancorp, Inc. will post 4.83 earnings per share for the current fiscal year.

Unity Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were paid a $0.14 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.56 dividend on an annualized basis and a yield of 1.35%. This is a boost from Unity Bancorp's previous quarterly dividend of $0.13. Unity Bancorp's dividend payout ratio (DPR) is currently 13.79%.

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.