Unity Bancorp, Inc. (NASDAQ:UNTY) Director Sells $46,914.14 in Stock

Unity Bancorp, Inc. (NASDAQ:UNTY - Get Free Report) Director Vincent Geraci sold 1,043 shares of the stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $44.98, for a total transaction of $46,914.14. Following the completion of the sale, the director now directly owns 8,250 shares of the company's stock, valued at approximately $371,085. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Unity Bancorp Trading Up 1.4 %

UNTY stock traded up $0.63 during midday trading on Friday, reaching $45.35. 22,137 shares of the company traded hands, compared to its average volume of 19,472. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.15 and a current ratio of 1.15. The business has a 50 day moving average of $36.00 and a 200-day moving average of $31.72. Unity Bancorp, Inc. has a 52-week low of $24.74 and a 52-week high of $46.17. The firm has a market capitalization of $452.59 million, a price-to-earnings ratio of 11.66 and a beta of 0.99.

Unity Bancorp (NASDAQ:UNTY - Get Free Report) last announced its quarterly earnings data on Friday, October 11th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.10. The firm had revenue of $27.66 million during the quarter, compared to analysts' expectations of $26.40 million. Unity Bancorp had a return on equity of 14.86% and a net margin of 24.46%. As a group, sell-side analysts expect that Unity Bancorp, Inc. will post 4.01 earnings per share for the current fiscal year.

Unity Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, September 6th were issued a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 1.15%. The ex-dividend date was Friday, September 6th. Unity Bancorp's payout ratio is 13.37%.

Analyst Ratings Changes

Several research analysts recently commented on the stock. StockNews.com cut shares of Unity Bancorp from a "buy" rating to a "hold" rating in a report on Tuesday, October 22nd. Piper Sandler reaffirmed an "overweight" rating and set a $44.00 target price (up previously from $40.00) on shares of Unity Bancorp in a research note on Monday, October 14th. Finally, Keefe, Bruyette & Woods reaffirmed an "outperform" rating and set a $39.00 target price (up from $35.00) on shares of Unity Bancorp in a research report on Monday, July 15th.

Hedge Funds Weigh In On Unity Bancorp

Several institutional investors and hedge funds have recently added to or reduced their stakes in UNTY. Dimensional Fund Advisors LP increased its position in shares of Unity Bancorp by 1.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 478,877 shares of the financial services provider's stock worth $14,159,000 after purchasing an additional 5,449 shares during the last quarter. Vanguard Group Inc. grew its holdings in Unity Bancorp by 0.8% during the first quarter. Vanguard Group Inc. now owns 414,036 shares of the financial services provider's stock valued at $11,427,000 after purchasing an additional 3,170 shares during the last quarter. Bank of New York Mellon Corp grew its position in Unity Bancorp by 7.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 35,083 shares of the financial services provider's stock worth $1,037,000 after purchasing an additional 2,393 shares during the last quarter. Empowered Funds LLC boosted its stake in Unity Bancorp by 5.1% in the 3rd quarter. Empowered Funds LLC now owns 33,303 shares of the financial services provider's stock valued at $1,134,000 after buying an additional 1,608 shares in the last quarter. Finally, Inspire Investing LLC bought a new stake in shares of Unity Bancorp during the first quarter worth $884,000. Institutional investors and hedge funds 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.