Unity Bancorp, Inc. (NASDAQ:UNTY) SVP James Joseph Donovan Sells 1,080 Shares

Unity Bancorp, Inc. (NASDAQ:UNTY) SVP James Joseph Donovan sold 1,080 shares of the company’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $48.88, for a total value of $52,790.40. Following the completion of the transaction, the senior vice president now directly owns 4,975 shares in the company, valued at approximately $243,178. The trade was a 17.84 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Unity Bancorp Stock Performance

UNTY opened at $50.85 on Friday. The stock has a 50-day moving average of $45.30 and a 200-day moving average of $39.51. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.16 and a current ratio of 1.16. Unity Bancorp, Inc. has a 52-week low of $25.33 and a 52-week high of $50.99. The company has a market cap of $507.99 million, a PE ratio of 12.52 and a beta of 1.03.

Unity Bancorp (NASDAQ:UNTY) last announced its 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%. As a group, equities research analysts forecast that Unity Bancorp, Inc. will post 4.83 earnings per share for the current fiscal year.

Unity Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, December 13th were issued a $0.13 dividend. The ex-dividend date of this dividend was Friday, December 13th. This represents a $0.52 annualized dividend and a yield of 1.02%. Unity Bancorp’s dividend payout ratio (DPR) is presently 12.81%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. JPMorgan Chase & Co. increased its stake in shares of Unity Bancorp by 79.3% in the third quarter. JPMorgan Chase & Co. now owns 88,231 shares of the financial services provider’s stock worth $3,005,000 after purchasing an additional 39,033 shares during the period. Raymond James Financial Inc. acquired a new stake in Unity Bancorp in the 4th quarter valued at approximately $1,247,000. Inspire Investing LLC bought a new position in Unity Bancorp in the 4th quarter worth approximately $845,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Unity Bancorp during the third quarter worth approximately $623,000. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Unity Bancorp by 34.0% during the fourth quarter. Bank of New York Mellon Corp now owns 40,102 shares of the financial services provider’s stock worth $1,749,000 after buying an additional 10,167 shares during the last quarter. Institutional investors and hedge funds own 42.31% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on UNTY shares. StockNews.com cut Unity Bancorp from a “buy” rating to a “hold” rating in a research note on Tuesday, October 22nd. Piper Sandler reissued an “overweight” rating and issued a $54.00 target price (up from $53.00) on shares of Unity Bancorp in a research report on Thursday, January 16th. Finally, Keefe, Bruyette & Woods restated an “outperform” rating and set a $55.00 price target (up previously 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.