19,370 Shares in Unity Bancorp, Inc. (NASDAQ:UNTY) Acquired by Inspire Investing LLC

Inspire Investing LLC purchased a new position in Unity Bancorp, Inc. (NASDAQ:UNTY) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 19,370 shares of the financial services provider’s stock, valued at approximately $845,000.

Other hedge funds also recently modified their holdings of the company. JPMorgan Chase & Co. raised its holdings in Unity Bancorp by 79.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 88,231 shares of the financial services provider’s stock valued at $3,005,000 after acquiring an additional 39,033 shares during the period. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Unity Bancorp during the 3rd quarter valued at $623,000. Barclays PLC raised its holdings in Unity Bancorp by 93.1% during the 3rd quarter. Barclays PLC now owns 14,197 shares of the financial services provider’s stock valued at $484,000 after acquiring an additional 6,846 shares during the period. Princeton Capital Management LLC bought a new stake in Unity Bancorp during the 3rd quarter valued at $208,000. Finally, Dimensional Fund Advisors LP raised its holdings in Unity Bancorp by 1.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 478,877 shares of the financial services provider’s stock valued at $14,159,000 after acquiring an additional 5,449 shares during the period. Institutional investors own 42.31% of the company’s stock.

Unity Bancorp Trading Up 1.7 %

Unity Bancorp stock opened at $48.04 on Friday. The stock has a market cap of $479.73 million, a P/E ratio of 11.83 and a beta of 1.03. Unity Bancorp, Inc. has a fifty-two week low of $25.33 and a fifty-two week high of $48.45. The firm’s fifty day moving average price is $44.81 and its 200-day moving average price is $38.35. 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 (NASDAQ:UNTY) last released its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.13 earnings per share for the quarter, topping the consensus estimate of $1.08 by $0.05. Unity Bancorp had a net margin of 25.24% and a return on equity of 15.08%. Equities research analysts forecast that Unity Bancorp, Inc. will post 4.83 earnings per share for the current fiscal year.

Unity Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, December 13th were given a $0.13 dividend. The ex-dividend date was Friday, December 13th. This represents a $0.52 annualized dividend and a yield of 1.08%. Unity Bancorp’s dividend payout ratio (DPR) is presently 12.81%.

Insider Buying and Selling

In related news, Director Peter E. Maricondo sold 2,800 shares of the company’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $44.74, for a total value of $125,272.00. Following the completion of the transaction, the director now directly owns 39,522 shares in the company, valued at approximately $1,768,214.28. The trade was a 6.62 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Vincent Geraci sold 1,043 shares of the company’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $44.98, for a total transaction of $46,914.14. Following the completion of the transaction, the director now owns 8,250 shares of the company’s stock, valued at $371,085. This trade represents a 11.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 10,810 shares of company stock worth $499,642. Corporate insiders own 28.88% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $55.00 target price (up previously from $51.00) on shares of Unity Bancorp in a report on Thursday, January 16th. Piper Sandler reissued an “overweight” rating and set a $54.00 target price (up previously from $53.00) on shares of Unity Bancorp in a report on Thursday, January 16th. Finally, StockNews.com cut shares of Unity Bancorp from a “buy” rating to a “hold” rating in a report on Tuesday, October 22nd.

Unity Bancorp 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.