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

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

Unity Bancorp Price Performance

Shares of NASDAQ UNTY opened at $45.85 on Wednesday. The firm has a market capitalization of $458.04 million, a P/E ratio of 11.79 and a beta of 0.99. Unity Bancorp, Inc. has a one year low of $25.33 and a one year high of $48.22. The company’s fifty day moving average is $39.14 and its two-hundred day moving average is $33.33. 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 data on Friday, October 11th. The financial services provider reported $1.07 EPS for the quarter, topping 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 business had revenue of $27.66 million for the quarter, compared to analyst estimates of $26.40 million. Analysts forecast that Unity Bancorp, Inc. will post 4.01 EPS for the current fiscal year.

Unity Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be given a $0.13 dividend. The ex-dividend date is Friday, December 13th. This represents a $0.52 annualized dividend and a dividend yield of 1.13%. Unity Bancorp’s dividend payout ratio is presently 13.37%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Panagora Asset Management Inc. raised its stake in Unity Bancorp by 2.4% in the 2nd quarter. Panagora Asset Management Inc. now owns 20,852 shares of the financial services provider’s stock valued at $617,000 after purchasing an additional 488 shares during the last quarter. O Shaughnessy Asset Management LLC raised its stake in Unity Bancorp by 75.2% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 16,552 shares of the financial services provider’s stock valued at $457,000 after purchasing an additional 7,104 shares during the last quarter. Bank of New York Mellon Corp raised its stake in Unity Bancorp by 7.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 35,083 shares of the financial services provider’s stock valued at $1,037,000 after purchasing an additional 2,393 shares during the last quarter. Vanguard Group Inc. raised its stake in Unity Bancorp by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 414,036 shares of the financial services provider’s stock valued at $11,427,000 after purchasing an additional 3,170 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its stake in Unity Bancorp by 2,329.8% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,385 shares of the financial services provider’s stock valued at $41,000 after purchasing an additional 1,328 shares during the last quarter. Institutional investors and hedge funds own 42.31% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on UNTY shares. Piper Sandler restated an “overweight” rating and set a $44.00 target price (up from $40.00) on shares of Unity Bancorp in a research report on Monday, October 14th. StockNews.com lowered shares of Unity Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday, October 22nd.

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.