Unity Bancorp, Inc. (NASDAQ:UNTY) Director Mark S. Brody Sells 1,600 Shares of Stock

Unity Bancorp, Inc. (NASDAQ:UNTY) Director Mark S. Brody sold 1,600 shares of the firm’s stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $48.32, for a total value of $77,312.00. Following the completion of the sale, the director now directly owns 71,802 shares in the company, valued at approximately $3,469,472.64. The trade was a 2.18 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link.

Unity Bancorp Trading Down 1.8 %

NASDAQ UNTY opened at $47.48 on Tuesday. The firm has a market cap of $474.33 million, a price-to-earnings ratio of 11.69 and a beta of 1.03. Unity Bancorp, Inc. has a one year low of $25.33 and a one year high of $49.13. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.16 and a current ratio of 1.16. The firm has a 50 day simple moving average of $45.14 and a 200-day simple moving average of $39.24.

Unity Bancorp (NASDAQ:UNTY) last announced its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.13 earnings per share (EPS) for the quarter, beating 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%. Equities research analysts anticipate that Unity Bancorp, Inc. will post 4.83 EPS for the current fiscal year.

Unity Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th were issued a $0.13 dividend. The ex-dividend date was Friday, December 13th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.10%. Unity Bancorp’s payout ratio is currently 12.81%.

Institutional Trading of Unity Bancorp

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. increased its position in Unity Bancorp by 79.3% during the third quarter. JPMorgan Chase & Co. now owns 88,231 shares of the financial services provider’s stock worth $3,005,000 after buying an additional 39,033 shares during the period. Inspire Investing LLC purchased a new stake in Unity Bancorp in the 4th quarter valued at approximately $845,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Unity Bancorp during the third quarter worth $623,000. Barclays PLC grew its stake in shares of Unity Bancorp by 93.1% during the 3rd quarter. Barclays PLC now owns 14,197 shares of the financial services provider’s stock worth $484,000 after purchasing an additional 6,846 shares during the period. Finally, Princeton Capital Management LLC acquired a new position in Unity Bancorp during the third quarter worth about $208,000. Institutional investors and hedge funds own 42.31% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. StockNews.com cut 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 target (up previously from $53.00) on shares of Unity Bancorp in a report on Thursday, January 16th. Finally, Keefe, Bruyette & Woods restated an “outperform” rating and issued a $55.00 price objective (up from $51.00) 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.