Unity Bancorp, Inc. (NASDAQ:UNTY) Director Mark S. Brody Sells 1,600 Shares

Unity Bancorp, Inc. (NASDAQ:UNTY - Get Free Report) Director Mark S. Brody sold 1,600 shares of the business's stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $48.32, for a total transaction of $77,312.00. Following the sale, the director now directly owns 71,802 shares in the company, valued at $3,469,472.64. This trade represents a 2.18 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Unity Bancorp Stock Performance

Shares of UNTY traded down $1.34 during mid-day trading on Friday, reaching $49.51. The company's stock had a trading volume of 32,209 shares, compared to its average volume of 44,984. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.97. Unity Bancorp, Inc. has a 1-year low of $25.60 and a 1-year high of $51.22. The business has a 50-day simple moving average of $45.41 and a two-hundred day simple moving average of $39.59. The stock has a market cap of $494.60 million, a P/E ratio of 12.19 and a beta of 1.03.

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

Unity Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, December 13th were paid a $0.13 dividend. The ex-dividend date of this dividend was Friday, December 13th. This represents a $0.52 dividend on an annualized basis and a yield of 1.05%. Unity Bancorp's dividend payout ratio (DPR) is currently 12.81%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. 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 note on Thursday, January 16th. Keefe, Bruyette & Woods restated an "outperform" rating and set a $55.00 target price (up from $51.00) on shares of Unity Bancorp in a report on Thursday, January 16th. Finally, StockNews.com cut shares of Unity Bancorp from a "buy" rating to a "hold" rating in a research note on Tuesday, October 22nd.

Institutional Investors Weigh In On Unity Bancorp

Hedge funds have recently bought and sold shares of the stock. JPMorgan Chase & Co. grew its position in shares of Unity Bancorp by 79.3% in the third quarter. JPMorgan Chase & Co. now owns 88,231 shares of the financial services provider's stock valued at $3,005,000 after purchasing an additional 39,033 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Unity Bancorp in the 4th quarter valued at $1,247,000. Inspire Investing LLC acquired a new position in Unity Bancorp in the 4th quarter valued at $845,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in Unity Bancorp during the 3rd quarter worth $623,000. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Unity Bancorp by 34.0% during the fourth quarter. Bank of New York Mellon Corp now owns 40,102 shares of the financial services provider's stock worth $1,749,000 after buying an additional 10,167 shares in the last quarter. 42.31% of the stock is currently owned by institutional investors and hedge funds.

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.