Invesco Ltd. Acquires 87,321 Shares of Unity Bancorp, Inc. (NASDAQ:UNTY)

Invesco Ltd. increased its stake in Unity Bancorp, Inc. (NASDAQ:UNTY - Free Report) by 647.3% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 100,812 shares of the financial services provider's stock after purchasing an additional 87,321 shares during the quarter. Invesco Ltd. owned approximately 1.01% of Unity Bancorp worth $4,396,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in UNTY. Barclays PLC lifted its position in shares of Unity Bancorp by 93.1% during the 3rd quarter. Barclays PLC now owns 14,197 shares of the financial services provider's stock worth $484,000 after purchasing an additional 6,846 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of Unity Bancorp by 6.4% in the fourth quarter. Wellington Management Group LLP now owns 310,953 shares of the financial services provider's stock worth $13,561,000 after acquiring an additional 18,660 shares during the last quarter. JPMorgan Chase & Co. increased its position in Unity Bancorp by 79.3% during the third quarter. JPMorgan Chase & Co. now owns 88,231 shares of the financial services provider's stock worth $3,005,000 after acquiring an additional 39,033 shares during the period. Inspire Investing LLC acquired a new position in Unity Bancorp during the 4th quarter valued at $845,000. Finally, Geode Capital Management LLC boosted its holdings in Unity Bancorp by 0.3% in the 3rd quarter. Geode Capital Management LLC now owns 152,590 shares of the financial services provider's stock valued at $5,198,000 after purchasing an additional 492 shares during the period. Institutional investors own 42.31% of the company's stock.

Analyst Ratings Changes

UNTY has been the subject of a number of research reports. Keefe, Bruyette & Woods reiterated an "outperform" rating and issued a $55.00 price objective (up previously from $51.00) on shares of Unity Bancorp in a research report on Thursday, January 16th. Piper Sandler reduced their target price on Unity Bancorp from $54.00 to $50.00 and set an "overweight" rating for the company in a research report on Monday, April 14th.

Unity Bancorp Price Performance

NASDAQ UNTY traded up $0.29 during trading on Tuesday, reaching $42.10. 26,241 shares of the company traded hands, compared to its average volume of 28,057. Unity Bancorp, Inc. has a 1-year low of $25.60 and a 1-year high of $51.22. The company has a market cap of $423.44 million, a price-to-earnings ratio of 10.37 and a beta of 0.80. The stock's 50 day moving average price is $42.31 and its two-hundred day moving average price is $43.82. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.16 and a current ratio of 1.16.

Unity Bancorp (NASDAQ:UNTY - Get Free Report) last announced its quarterly earnings results on Friday, April 11th. The financial services provider reported $1.13 EPS for the quarter, beating the consensus estimate of $1.12 by $0.01. Unity Bancorp had a return on equity of 15.08% and a net margin of 25.24%. The business had revenue of $29.35 million for the quarter, compared to analyst estimates of $28.81 million. During the same quarter in the previous year, the firm earned $0.93 EPS. As a group, analysts anticipate that Unity Bancorp, Inc. will post 4.83 EPS for the current year.

Unity Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 1.33%. This is a boost from Unity Bancorp's previous quarterly dividend of $0.13. The ex-dividend date of this dividend was Friday, March 14th. Unity Bancorp's dividend payout ratio (DPR) is currently 13.15%.

Insider Buying and Selling at Unity Bancorp

In other Unity Bancorp news, Director Mark S. Brody sold 1,600 shares of the business's stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $48.32, for a total value of $77,312.00. Following the completion of the transaction, the director now directly owns 71,802 shares of the company's stock, valued at approximately $3,469,472.64. The trade was a 2.18 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP James Joseph Donovan sold 1,080 shares of the business's stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $48.88, for a total transaction of $52,790.40. Following the completion of the transaction, the senior vice president now owns 4,975 shares of the company's stock, valued at $243,178. This trade represents a 17.84 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 5,824 shares of company stock worth $277,097. 29.68% of the stock is currently owned by insiders.

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.