Mark S. Brody Sells 2,800 Shares of Unity Bancorp, Inc. (NASDAQ:UNTY) Stock

Unity Bancorp, Inc. (NASDAQ:UNTY) Director Mark S. Brody sold 2,800 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $47.33, for a total transaction of $132,524.00. Following the completion of the sale, the director now directly owns 70,002 shares in the company, valued at approximately $3,313,194.66. This trade represents a 3.85 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Unity Bancorp Stock Down 0.4 %

Shares of Unity Bancorp stock opened at $45.65 on Thursday. Unity Bancorp, Inc. has a 1 year low of $25.33 and a 1 year high of $48.22. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.16 and a quick ratio of 1.16. The company has a 50-day moving average of $39.37 and a 200 day moving average of $33.42. The firm has a market cap of $456.04 million, a price-to-earnings ratio of 11.74 and a beta of 0.99.

Unity Bancorp (NASDAQ:UNTY) last released its earnings results on Friday, October 11th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.10. Unity Bancorp had a net margin of 24.46% and a return on equity of 14.63%. The firm had revenue of $27.66 million during the quarter, compared to analyst estimates of $26.40 million. As a group, sell-side analysts anticipate 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 will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be issued a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 1.14%. The ex-dividend date of this dividend is Friday, December 13th. Unity Bancorp’s dividend payout ratio (DPR) is 13.37%.

Analyst Ratings Changes

UNTY has been the subject of a number of analyst reports. StockNews.com lowered shares of Unity Bancorp from a “buy” rating to a “hold” rating in a report on Tuesday, October 22nd. Piper Sandler restated an “overweight” rating and issued a $44.00 target price (up previously from $40.00) on shares of Unity Bancorp in a research note on Monday, October 14th.

Hedge Funds Weigh In On Unity Bancorp

Several institutional investors and hedge funds have recently modified their holdings of UNTY. Barclays PLC boosted its stake in Unity Bancorp by 93.1% in 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 in the last quarter. Geode Capital Management LLC raised its holdings in Unity Bancorp by 0.3% in the third quarter. Geode Capital Management LLC now owns 152,590 shares of the financial services provider’s stock worth $5,198,000 after buying an additional 492 shares during the last quarter. State Street Corp lifted its stake in shares of Unity Bancorp by 0.6% in the third quarter. State Street Corp now owns 94,750 shares of the financial services provider’s stock worth $3,227,000 after buying an additional 607 shares in the last quarter. BNP Paribas Financial Markets lifted its stake in shares of Unity Bancorp by 84.6% in the third quarter. BNP Paribas Financial Markets now owns 2,464 shares of the financial services provider’s stock worth $84,000 after buying an additional 1,129 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Unity Bancorp during the third quarter valued at approximately $623,000. 42.31% of the stock is currently owned by 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.