19,370 Shares in Unity Bancorp, Inc. (NASDAQ:UNTY) Bought by Inspire Investing LLC

Inspire Investing LLC purchased a new stake in Unity Bancorp, Inc. (NASDAQ:UNTY - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 19,370 shares of the financial services provider's stock, valued at approximately $845,000. Inspire Investing LLC owned 0.19% of Unity Bancorp at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Dimensional Fund Advisors LP grew its position in Unity Bancorp by 1.2% in the second quarter. Dimensional Fund Advisors LP now owns 478,877 shares of the financial services provider's stock worth $14,159,000 after acquiring an additional 5,449 shares during the period. Empowered Funds LLC grew its holdings in shares of Unity Bancorp by 5.1% during the 3rd quarter. Empowered Funds LLC now owns 33,303 shares of the financial services provider's stock worth $1,134,000 after purchasing an additional 1,608 shares during the period. Princeton Capital Management LLC purchased a new position in shares of Unity Bancorp during the 3rd quarter worth $208,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Unity Bancorp in the 3rd quarter valued at about $623,000. Finally, BNP Paribas Financial Markets lifted its position in Unity Bancorp by 84.6% in the third quarter. BNP Paribas Financial Markets now owns 2,464 shares of the financial services provider's stock valued at $84,000 after buying an additional 1,129 shares during the last quarter. Institutional investors and hedge funds own 42.31% of the company's stock.

Insider Buying and Selling

In related news, Director Mark S. Brody sold 2,800 shares of the company's 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 of the company's stock, valued at $3,313,194.66. This represents a 3.85 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP David G. Bove sold 4,167 shares of the firm's stock in a transaction that occurred on Friday, December 13th. The stock was 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. This trade represents a 29.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 10,810 shares of company stock worth $499,642. Company insiders own 28.88% of the company's stock.

Unity Bancorp Stock Up 1.7 %

Shares of NASDAQ UNTY traded up $0.81 during midday trading on Friday, hitting $48.04. The company's stock had a trading volume of 41,177 shares, compared to its average volume of 39,333. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.16 and a quick ratio of 1.16. The firm has a market capitalization of $479.92 million, a price-to-earnings ratio of 11.83 and a beta of 1.03. The business's fifty day simple moving average is $44.86 and its two-hundred day simple moving average is $38.49. Unity Bancorp, Inc. has a 1 year low of $25.33 and a 1 year high of $48.45.

Unity Bancorp (NASDAQ:UNTY - Get Free Report) last issued its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.13 EPS for the quarter, beating 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, equities analysts predict that Unity Bancorp, Inc. will post 4.83 EPS for the current year.

Unity Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, December 13th were paid 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 1.08%. Unity Bancorp's payout ratio is 12.81%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on UNTY shares. Keefe, Bruyette & Woods reissued an "outperform" rating and issued a $55.00 price target (up from $51.00) on shares of Unity Bancorp in a research note on Thursday, January 16th. StockNews.com lowered Unity Bancorp from a "buy" rating to a "hold" rating in a research report on Tuesday, October 22nd. Finally, Piper Sandler restated an "overweight" rating and set a $54.00 price target (up from $53.00) on shares of Unity Bancorp in a research report on Thursday, January 16th.

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.