Insider Selling: Unity Bancorp, Inc. (NASDAQ:UNTY) SVP Sells 1,080 Shares of Stock

Unity Bancorp, Inc. (NASDAQ:UNTY - Get Free Report) SVP James Joseph Donovan sold 1,080 shares of the business's stock in a transaction 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 sale, the senior vice president now owns 4,975 shares in the company, valued at $243,178. This represents a 17.84 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Unity Bancorp Trading Down 2.6 %

Shares of NASDAQ UNTY traded down $1.34 during mid-day trading on Friday, reaching $49.51. The company had a trading volume of 32,209 shares, compared to its average volume of 45,789. Unity Bancorp, Inc. has a 52 week low of $25.60 and a 52 week high of $51.22. The business's 50-day moving average is $45.49 and its 200-day moving average is $39.72. The stock has a market cap of $494.60 million, a price-to-earnings ratio of 12.19 and a beta of 1.03. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.97.

Unity Bancorp (NASDAQ:UNTY - Get Free Report) last issued 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 net margin of 25.24% and a return on equity of 15.08%. Equities analysts expect that Unity Bancorp, Inc. will post 4.83 earnings per share for the current year.

Unity Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th were given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 1.05%. The ex-dividend date was Friday, December 13th. Unity Bancorp's dividend payout ratio (DPR) is presently 12.81%.

Institutional Trading of Unity Bancorp

Several institutional investors and hedge funds have recently made changes to their positions in the company. BNP Paribas Financial Markets increased its holdings in shares of Unity Bancorp by 84.6% in the 3rd 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 period. Barclays PLC lifted its position in Unity Bancorp by 93.1% during the third quarter. Barclays PLC now owns 14,197 shares of the financial services provider's stock valued at $484,000 after acquiring an additional 6,846 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Unity Bancorp by 79.3% in the third quarter. JPMorgan Chase & Co. now owns 88,231 shares of the financial services provider's stock valued at $3,005,000 after acquiring an additional 39,033 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Unity Bancorp in the third quarter worth $623,000. Finally, Inspire Investing LLC acquired a new position in shares of Unity Bancorp during the fourth quarter worth $845,000. 42.31% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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