Insider Selling: Unity Bancorp, Inc. (NASDAQ:UNTY) Director Sells 1,811 Shares of Stock

Unity Bancorp, Inc. (NASDAQ:UNTY - Get Free Report) Director Vincent Geraci sold 1,811 shares of the company's stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $50.82, for a total transaction of $92,035.02. Following the transaction, the director now owns 8,312 shares in the company, valued at $422,415.84. The trade was a 17.89 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Unity Bancorp Trading Up 0.4 %

UNTY stock traded up $0.22 during mid-day trading on Tuesday, reaching $49.64. The company had a trading volume of 20,172 shares, compared to its average volume of 44,448. The company has a market capitalization of $495.90 million, a PE ratio of 12.23 and a beta of 1.03. The firm has a 50 day moving average of $45.57 and a 200 day moving average of $39.87. Unity Bancorp, Inc. has a 12 month low of $25.60 and a 12 month 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 (NASDAQ:UNTY - Get Free Report) last announced its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.13 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analysts predict that Unity Bancorp, Inc. will post 4.83 earnings per share for the current fiscal year.

Unity Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th were paid a dividend of $0.13 per share. The ex-dividend date of this dividend was Friday, December 13th. This represents a $0.52 annualized dividend and a dividend yield of 1.05%. Unity Bancorp's dividend payout ratio is currently 12.81%.

Analyst Ratings Changes

Several research analysts have issued reports on the company. StockNews.com lowered 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 previously from $53.00) on shares of Unity Bancorp in a report on Thursday, January 16th. Finally, Keefe, Bruyette & Woods reiterated an "outperform" rating and issued a $55.00 target price (up previously from $51.00) on shares of Unity Bancorp in a research note on Thursday, January 16th.

Institutional Trading of Unity Bancorp

Hedge funds have recently added to or reduced their stakes in the business. Allworth Financial LP purchased a new position in Unity Bancorp during the 4th quarter valued at about $67,000. BNP Paribas Financial Markets increased its holdings in 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 buying an additional 1,129 shares during the period. SG Americas Securities LLC bought a new position in Unity Bancorp in the fourth quarter worth approximately $135,000. Thrivent Financial for Lutherans purchased a new stake in Unity Bancorp during the fourth quarter worth $200,000. Finally, Virtu Financial LLC purchased a new stake in Unity Bancorp during the fourth quarter worth $207,000. 42.31% of the stock is 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.