Unity Bancorp, Inc. (NASDAQ:UNTY) Director Sells $158,532.00 in Stock

Unity Bancorp, Inc. (NASDAQ:UNTY - Get Free Report) Director Mary E. Gross sold 3,300 shares of the company's stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $48.04, for a total value of $158,532.00. Following the completion of the sale, the director now owns 18,479 shares in the company, valued at $887,731.16. This represents a 15.15 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Unity Bancorp Stock Up 0.1 %

UNTY stock traded up $0.07 during mid-day trading on Thursday, reaching $48.15. 53,061 shares of the company traded hands, compared to its average volume of 41,961. The stock has a market cap of $481.02 million, a price-to-earnings ratio of 11.86 and a beta of 1.03. Unity Bancorp, Inc. has a fifty-two week low of $25.33 and a fifty-two week high of $49.13. The firm's 50 day moving average price is $45.06 and its 200 day moving average price is $38.97. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.97.

Unity Bancorp (NASDAQ:UNTY - Get Free Report) last released its earnings results 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 return on equity of 15.08% and a net margin of 25.24%. As a group, equities research analysts predict that Unity Bancorp, Inc. will post 4.83 EPS for the current fiscal year.

Unity Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th were issued a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 1.08%. The ex-dividend date was Friday, December 13th. Unity Bancorp's payout ratio is 12.81%.

Analysts Set New Price Targets

UNTY has been the topic of several recent research reports. Piper Sandler reaffirmed an "overweight" rating and set a $54.00 target price (up from $53.00) on shares of Unity Bancorp in a report on Thursday, January 16th. StockNews.com cut Unity Bancorp from a "buy" rating to a "hold" rating in a research report on Tuesday, October 22nd. Finally, Keefe, Bruyette & Woods reissued an "outperform" rating and issued a $55.00 target price (up previously from $51.00) on shares of Unity Bancorp in a report on Thursday, January 16th.

Institutional Trading of Unity Bancorp

Several institutional investors and hedge funds have recently modified their holdings of UNTY. Allworth Financial LP bought a new position in shares of Unity Bancorp during the 4th quarter valued at about $67,000. BNP Paribas Financial Markets raised its stake in shares of Unity Bancorp by 84.6% during the third quarter. BNP Paribas Financial Markets now owns 2,464 shares of the financial services provider's stock valued at $84,000 after acquiring an additional 1,129 shares during the last quarter. SG Americas Securities LLC purchased a new stake in Unity Bancorp in the 4th quarter worth approximately $135,000. Princeton Capital Management LLC bought a new position in Unity Bancorp in the 3rd quarter worth $208,000. Finally, Foundations Investment Advisors LLC purchased a new stake in Unity Bancorp in the fourth quarter worth about $219,000. Hedge funds and other institutional investors own 42.31% of the company's stock.

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.