Unity Bancorp (UNTY) Expected to Announce Quarterly Earnings on Friday

Unity Bancorp (NASDAQ:UNTY - Get Free Report) is expected to be releasing its earnings data before the market opens on Friday, April 11th. Analysts expect Unity Bancorp to post earnings of $1.12 per share and revenue of $28.81 million for the quarter.

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 for the quarter, beating 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%. On average, analysts expect Unity Bancorp to post $5 EPS for the current fiscal year and $5 EPS for the next fiscal year.

Unity Bancorp Trading Up 2.8 %

Shares of NASDAQ UNTY traded up $1.12 during midday trading on Tuesday, hitting $41.06. The stock had a trading volume of 8,909 shares, compared to its average volume of 38,649. The company's 50-day simple moving average is $44.97 and its 200 day simple moving average is $43.01. The firm has a market cap of $412.98 million, a P/E ratio of 10.11 and a beta of 0.80. Unity Bancorp has a fifty-two week low of $25.60 and a fifty-two week high of $51.22. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.16 and a quick ratio of 1.16.

Unity Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were given a $0.14 dividend. This is a positive change from Unity Bancorp's previous quarterly dividend of $0.13. This represents a $0.56 annualized dividend and a dividend yield of 1.36%. The ex-dividend date of this dividend was Friday, March 14th. Unity Bancorp's dividend payout ratio (DPR) is currently 13.79%.

Remove Ads

Insider Activity at Unity Bancorp

In other news, Director Mary E. Gross sold 3,300 shares of the business's stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $48.04, for a total transaction of $158,532.00. Following the completion of the transaction, the director now owns 18,479 shares of the company's stock, valued at approximately $887,731.16. The trade was a 15.15 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Vincent Geraci sold 1,811 shares of the stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $50.82, for a total transaction of $92,035.02. Following the completion of the transaction, the director now directly owns 8,312 shares of the company's stock, valued at $422,415.84. This trade represents a 17.89 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 7,791 shares of company stock worth $380,669. Corporate insiders own 29.68% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on UNTY shares. 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. Piper Sandler reiterated an "overweight" rating and issued a $54.00 price target (up previously from $53.00) 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.