Unity Bancorp (UNTY) Stock Price, News & Analysis

Company Overview

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. The company also provides small business administration loans; commercial loans; and residential mortgage and consumer loans, including residential real estate, home equity lines and loans, and residential construction lines, as well as personal loans. In addition, it offers credit and debit cards, wire transfer, safe deposit box, automated teller, and internet and mobile banking services; and automated clearing house origination and remote deposit capture services. Unity Bancorp, Inc. was incorporated in 1991 and is headquartered in Clinton, New Jersey.

Key Stats

• Today's Range: $45.28 to $45.53
• 50-Day Range: $32.08 to $47.16
• 52-Week Range: $25.33 to $48.08
• Volume: 2,434 shs
• Average Volume: 19,670 shs
• Market Capitalization: $452.35 million
• P/E Ratio: 11.64
• Dividend Yield: 1.15%
• Price Target: $41.50
• Consensus Rating: Buy

Unity Bancorp Stock Analysis - MarketRank™

Unity Bancorp scored higher than 74% of companies evaluated by MarketBeat, and ranked 347th out of 930 stocks in the finance sector. Scores are calculated by averaging available category scores, with extra weight given to analysis and valuation.

Analyst's Opinion

• Score: 1.5 / 5
• Analyst Rating: Buy

Consensus Rating

Unity Bancorp has received a consensus rating of Buy. The company's average rating score is 3.00, and is based on 2 buy ratings, no hold ratings, and no sell ratings.

Amount of Analyst Coverage

Unity Bancorp has only been the subject of 1 research reports in the past 90 days.

Earnings and Valuation

• Score: 2.5 / 5
• Proj. Earnings Growth: 12.97%

Earnings Growth

Earnings for Unity Bancorp are expected to grow by 12.97% in the coming year, from $4.01 to $4.53 per share.

Price to Earnings Ratio vs. the Market

The P/E ratio of Unity Bancorp is 11.79, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 125.73.

Price to Earnings Ratio vs. Sector

The P/E ratio of Unity Bancorp is 11.79, which means that it is trading at a less expensive P/E ratio than the Finance sector average P/E ratio of about 46.28.

Price to Book Value per Share Ratio

Unity Bancorp has a P/B Ratio of 1.61. P/B Ratios below 3 indicates that a company is reasonably valued with respect to its assets and liabilities.

Short Interest

• Score: 4.0 / 5
• Short Interest Level: Healthy

Percentage of Shares Shorted

0.38% of the float of Unity Bancorp has been sold short.

Short Interest Ratio / Days to Cover

Unity Bancorp has a short interest ratio ("days to cover") of 1, which is generally considered an acceptable ratio of short interest to trading volume.

Change versus previous month

Short interest in Unity Bancorp has recently decreased by 4.05%, indicating that investor sentiment is improving.

Dividend

• Score: 4.2 / 5
• Dividend Strength: Strong

Dividend Yield

Unity Bancorp pays a meaningful dividend of 1.16%, higher than the bottom 25% of all stocks that pay dividends.

Dividend Growth

Unity Bancorp has been increasing its dividend for 11 years.

Dividend Coverage

The dividend payout ratio of Unity Bancorp is 13.37%. This payout ratio is at a healthy, sustainable level, below 75%.

Dividend Sustainability

Based on earnings estimates, Unity Bancorp will have a dividend payout ratio of 11.48% next year. This indicates that Unity Bancorp will be able to sustain or increase its dividend.

Sustainability and ESG

• Score: N/A
• Environmental Score: N/A

Percentage of Shares Shorted

0.38% of the float of Unity Bancorp has been sold short.

Short Interest Ratio / Days to Cover

Unity Bancorp has a short interest ratio ("days to cover") of 1, which is generally considered an acceptable ratio of short interest to trading volume.

Change versus previous month

Short interest in Unity Bancorp has recently decreased by 4.05%, indicating that investor sentiment is improving.

News and Social Media

• Score: 1.4 / 5
• News Sentiment: N/A

News Sentiment

Unity Bancorp has a news sentiment score of 0.59. This score is calculated as an average of sentiment of articles about the company over the last seven days and ranges from 2 (good news) to -2 (bad news). This is a lower news sentiment than the 0.76 average news sentiment score of Finance companies.

News Coverage This Week

MarketBeat has tracked 1 news article for Unity Bancorp this week, compared to 1 article on an average week.

Company Ownership

• Score: 3.3 / 5
• Insider Trading: Selling Shares

Insider Buying vs. Insider Selling

In the past three months, Unity Bancorp insiders have sold more of their company's stock than they have bought. Specifically, they have bought $0.00 in company stock and sold $46,914.00 in company stock.

Percentage Held by Insiders

28.88% of the stock of Unity Bancorp is held by insiders. A high percentage of insider ownership can be a sign of company health.

Percentage Held by Institutions

42.31% of the stock of Unity Bancorp is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

UNTY Stock Analysis - Frequently Asked Questions

How have UNTY shares performed this year?

Unity Bancorp's stock was trading at $29.59 at the start of the year. Since then, UNTY stock has increased by 55.0% and is now trading at $45.85.
View the best growth stocks for 2024 here.

How were Unity Bancorp's earnings last quarter?

Unity Bancorp, Inc. (NASDAQ:UNTY) issued its quarterly earnings results on Friday, October, 11th. The financial services provider reported $1.07 EPS for the quarter, beating analysts' consensus estimates of $0.97 by $0.10. The financial services provider earned $27.66 million during the quarter, compared to analyst estimates of $26.40 million. Unity Bancorp had a net margin of 24.46% and a trailing twelve-month return on equity of 14.63%.

Who are Unity Bancorp's major shareholders?

Top institutional shareholders of Unity Bancorp include Banc Funds Co. LLC (8.41%), Wellington Management Group LLP (2.93%), Royce & Associates LP (2.16%) and Geode Capital Management LLC (1.53%). Insiders that own company stock include David D Dallas, James A Hughes, Wayne Courtright, John J Kauchak, Mary E Gross, Vincent Geraci, George Boyan, Donald E Jr Souders, Minsu Kim, James Joseph Donovan, Stephen Rooney, Mark S Brody and Janice Bolomey.
View institutional ownership trends.

How do I buy shares of Unity Bancorp?

Shares of UNTY stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services.
Compare Top Brokerages Here.

What other stocks do shareholders of Unity Bancorp own?

Based on aggregate information from My MarketBeat watchlists, some other companies that Unity Bancorp investors own include NVIDIA (NVDA), Meta Platforms (META), Broadcom (AVGO), Advanced Micro Devices (AMD), ServiceNow (NOW), Adobe (ADBE) and Arista Networks (ANET).

Company Calendar

• Ex-Dividend for 9/20 Dividend: 9/06/2024
• Dividend Payable: 9/20/2024
• Last Earnings: 10/11/2024
• Today: 11/20/2024
• Fiscal Year End: 12/31/2024
• Next Earnings (Estimated): 1/10/2025

Industry, Sector and Symbol

• Stock Exchange: NASDAQ
• Sector: Finance
• Industry: State commercial banks
• Sub-Industry: Banking
• Current Symbol: NASDAQ:UNTY
• CUSIP: N/A
• CIK: 920427
• Web: www.unitybank.com
• Phone: (908) 730-7630
• Fax: 908-730-9430
• Employees: 230
• Year Founded: N/A

Price Target and Rating

• Average Stock Price Target: $41.50
• High Stock Price Target: $44.00
• Low Stock Price Target: $39.00
• Potential Upside/Downside: -7.6%
• Consensus Rating: Buy
• Rating Score (0-4): 3.00
• Research Coverage: 2 Analysts

Profitability

• EPS (Most Recent Fiscal Year): $3.89
• Trailing P/E Ratio: 11.55
• Forward P/E Ratio: 11.20
• P/E Growth: N/A
• Net Income: $39.71 million
• Net Margins: 24.46%
• Pretax Margin: 32.62%
• Return on Equity: 14.63%
• Return on Assets: 1.53%

Debt

• Debt-to-Equity Ratio: 0.97
• Current Ratio: 1.16
• Quick Ratio: 1.16

Sales & Book Value

• Annual Sales: $151.64 million
• Price / Sales: 2.96
• Cash Flow: $4.12 per share
• Price / Cash Flow: 10.90
• Book Value: $25.99 per share
• Price / Book: 1.73

Miscellaneous

• Outstanding Shares: 9,990,000
• Free Float: 7,102,000
• Market Cap: $448.85 million
• Optionable: Optionable
• Beta: 0.99