Barclays PLC Buys 6,846 Shares of Unity Bancorp, Inc. (NASDAQ:UNTY)

Barclays PLC increased its position in shares of Unity Bancorp, Inc. (NASDAQ:UNTY - Free Report) by 93.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 14,197 shares of the financial services provider's stock after purchasing an additional 6,846 shares during the period. Barclays PLC owned about 0.14% of Unity Bancorp worth $484,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Geode Capital Management LLC boosted its stake in Unity Bancorp by 0.3% during the third quarter. Geode Capital Management LLC now owns 152,590 shares of the financial services provider's stock worth $5,198,000 after buying an additional 492 shares in the last quarter. State Street Corp lifted its holdings in shares of Unity Bancorp by 0.6% during the 3rd quarter. State Street Corp now owns 94,750 shares of the financial services provider's stock worth $3,227,000 after acquiring an additional 607 shares during the period. BNP Paribas Financial Markets boosted its position in shares of 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 valued at $84,000 after acquiring an additional 1,129 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Unity Bancorp in the third quarter valued at about $623,000. Finally, Princeton Capital Management LLC acquired a new position in Unity Bancorp in the third quarter worth about $208,000. 42.31% of the stock is currently owned by institutional investors and hedge funds.

Unity Bancorp Price Performance

Shares of NASDAQ:UNTY traded up $0.90 during trading on Friday, reaching $47.15. The stock had a trading volume of 45,006 shares, compared to its average volume of 39,715. The stock has a market capitalization of $471.03 million, a PE ratio of 12.12 and a beta of 1.03. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.16 and a quick ratio of 1.16. Unity Bancorp, Inc. has a 52 week low of $25.33 and a 52 week high of $48.44. The business's 50-day moving average price is $44.70 and its 200 day moving average price is $37.86.

Unity Bancorp (NASDAQ:UNTY - Get Free Report) last issued 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 return on equity of 14.63% and a net margin of 24.46%. As a group, equities analysts predict that Unity Bancorp, Inc. will post 4.01 earnings per share for the current year.

Unity Bancorp Dividend Announcement

The business 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. This represents a $0.52 dividend on an annualized basis and a yield of 1.10%. The ex-dividend date was Friday, December 13th. Unity Bancorp's dividend payout ratio is currently 13.37%.

Analysts Set New Price Targets

UNTY has been the topic of a number of recent research reports. Piper Sandler reaffirmed an "overweight" rating and set a $54.00 price objective (up from $53.00) on shares of Unity Bancorp in a report on Thursday. StockNews.com lowered Unity Bancorp from a "buy" rating to a "hold" rating in a research note on Tuesday, October 22nd. Finally, Keefe, Bruyette & Woods reiterated an "outperform" rating and set a $55.00 price objective (up from $51.00) on shares of Unity Bancorp in a research note on Thursday.

Insider Buying and Selling at Unity Bancorp

In related news, Director Mark S. Brody sold 2,800 shares of Unity Bancorp stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $47.33, for a total value of $132,524.00. Following the completion of the sale, the director now directly owns 70,002 shares in the company, valued at $3,313,194.66. This trade represents a 3.85 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP David G. Bove sold 4,167 shares of the company's stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $46.78, for a total transaction of $194,932.26. Following the transaction, the senior vice president now owns 9,837 shares in the company, valued at approximately $460,174.86. The trade was a 29.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 10,810 shares of company stock worth $499,642. 28.88% of the stock is currently owned by corporate insiders.

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.