LSV Asset Management Has $240,000 Position in Unity Bancorp, Inc. (NASDAQ:UNTY)

LSV Asset Management trimmed its holdings in Unity Bancorp, Inc. (NASDAQ:UNTY - Free Report) by 61.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,500 shares of the financial services provider's stock after selling 8,830 shares during the quarter. LSV Asset Management owned about 0.06% of Unity Bancorp worth $240,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the business. BNP Paribas Financial Markets boosted its stake 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 valued at $84,000 after purchasing an additional 1,129 shares in the last quarter. State Street Corp raised its position in Unity Bancorp by 0.6% in the third 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 in the last quarter. Barclays PLC raised its holdings in shares of Unity Bancorp by 93.1% in 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 in the last quarter. Geode Capital Management LLC boosted its stake in shares of Unity Bancorp by 0.3% during the 3rd quarter. Geode Capital Management LLC now owns 152,590 shares of the financial services provider's stock worth $5,198,000 after acquiring an additional 492 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in shares of Unity Bancorp by 79.3% in the 3rd 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 last quarter. 42.31% of the stock is currently owned by institutional investors and hedge funds.

Unity Bancorp Stock Up 0.5 %

NASDAQ:UNTY traded up $0.22 during trading hours on Friday, hitting $41.32. 44,616 shares of the company's stock traded hands, compared to its average volume of 27,714. The stock's fifty day moving average price is $43.11 and its two-hundred day moving average price is $43.31. The firm has a market cap of $415.60 million, a P/E ratio of 10.18 and a beta of 0.80. 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, Inc. has a twelve month low of $25.60 and a twelve month high of $51.22.

Unity Bancorp (NASDAQ:UNTY - Get Free Report) last issued its earnings results on Friday, April 11th. The financial services provider reported $1.13 EPS for the quarter, beating analysts' consensus estimates of $1.12 by $0.01. Unity Bancorp had a return on equity of 15.08% and a net margin of 25.24%. The firm had revenue of $29.35 million for the quarter, compared to the consensus estimate of $28.81 million. During the same quarter in the previous year, the company posted $0.93 earnings per share. On average, research analysts expect that Unity Bancorp, Inc. will post 4.83 earnings per share for the current fiscal year.

Unity Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.36%. 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 payout ratio is presently 13.15%.

Insider Buying and Selling

In other Unity Bancorp news, SVP James Joseph Donovan sold 1,080 shares of Unity Bancorp stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $48.88, for a total transaction of $52,790.40. Following the sale, the senior vice president now owns 4,975 shares in the company, valued at $243,178. The trade was a 17.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Mary E. Gross sold 3,300 shares of the 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 completion of the transaction, the director now directly owns 18,479 shares of the company's stock, valued at approximately $887,731.16. The trade was a 15.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 7,791 shares of company stock valued at $380,669. Company insiders own 29.68% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on UNTY. Piper Sandler dropped their price target on Unity Bancorp from $54.00 to $50.00 and set an "overweight" rating on the stock in a research note on Monday, April 14th. Keefe, Bruyette & Woods restated an "outperform" rating and set a $55.00 price target (up previously from $51.00) on shares of Unity Bancorp in a 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.