Unity Bancorp (NASDAQ:UNTY) Stock Price Crosses Below 200 Day Moving Average - Time to Sell?

Shares of Unity Bancorp, Inc. (NASDAQ:UNTY - Get Free Report) passed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $41.89 and traded as low as $41.59. Unity Bancorp shares last traded at $42.45, with a volume of 33,277 shares changing hands.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Piper Sandler reissued an "overweight" rating and issued a $54.00 price objective (up from $53.00) on shares of Unity Bancorp in a research note on Thursday, January 16th. Keefe, Bruyette & Woods reissued an "outperform" rating and issued a $55.00 target price (up from $51.00) on shares of Unity Bancorp in a research note on Thursday, January 16th.

Unity Bancorp Stock Down 0.1 %

The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.97. The firm has a 50 day simple moving average of $46.06 and a 200-day simple moving average of $41.89. The stock has a market cap of $423.91 million, a P/E ratio of 10.46 and a beta of 0.95.

Unity Bancorp (NASDAQ:UNTY - Get Free Report) last issued its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.13 earnings per share (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%. On average, equities research analysts forecast that Unity Bancorp, Inc. will post 4.83 earnings per share for the current fiscal year.

Unity Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be given a dividend of $0.14 per share. This is a positive change from Unity Bancorp's previous quarterly dividend of $0.13. This represents a $0.56 annualized dividend and a yield of 1.32%. The ex-dividend date is Friday, March 14th. Unity Bancorp's dividend payout ratio (DPR) is currently 13.79%.

Insider Buying and Selling

In other Unity Bancorp news, Director Mary E. Gross sold 3,300 shares of Unity Bancorp stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $48.04, for a total transaction of $158,532.00. Following the transaction, the director now owns 18,479 shares of the company's stock, valued at $887,731.16. This trade represents a 15.15 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP David G. Bove sold 4,167 shares of Unity Bancorp stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $46.78, for a total transaction of $194,932.26. Following the transaction, the senior vice president now directly owns 9,837 shares in the company, valued at approximately $460,174.86. This represents a 29.76 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 11,958 shares of company stock valued at $575,602 in the last three months. Insiders own 28.88% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in UNTY. Public Employees Retirement System of Ohio bought a new stake in shares of Unity Bancorp during the fourth quarter valued at approximately $33,000. Allworth Financial LP acquired a new position in Unity Bancorp in the 4th quarter valued at about $67,000. BNP Paribas Financial Markets increased its position 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 worth $84,000 after purchasing an additional 1,129 shares during the period. SG Americas Securities LLC acquired a new position in Unity Bancorp during the 4th quarter worth approximately $135,000. Finally, Virtus Investment Advisers Inc. purchased a new stake in shares of Unity Bancorp during the 4th quarter worth approximately $148,000. 42.31% of the stock is currently owned by hedge funds and other institutional investors.

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.

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