Insider Selling: Unity Bancorp, Inc. (NASDAQ:UNTY) Director Sells 1,600 Shares of Stock

Unity Bancorp, Inc. (NASDAQ:UNTY) Director Mark S. Brody sold 1,600 shares of the stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $48.32, for a total value of $77,312.00. Following the completion of the transaction, the director now owns 71,802 shares in the company, valued at $3,469,472.64. This represents a 2.18 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Unity Bancorp Stock Performance

UNTY stock traded down $0.87 during midday trading on Monday, hitting $47.48. 36,013 shares of the company traded hands, compared to its average volume of 42,038. The business has a 50 day simple moving average of $45.14 and a 200-day simple moving average of $39.24. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.97. Unity Bancorp, Inc. has a twelve month low of $25.33 and a twelve month high of $49.13. The stock has a market capitalization of $474.33 million, a price-to-earnings ratio of 11.69 and a beta of 1.03.

Unity Bancorp (NASDAQ:UNTY) last posted its earnings results on Wednesday, January 15th. The financial services provider reported $1.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.08 by $0.05. Unity Bancorp had a net margin of 25.24% and a return on equity of 15.08%. As a group, equities research analysts predict that Unity Bancorp, Inc. will post 4.83 earnings per share for the current year.

Unity Bancorp Dividend Announcement

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

Institutional Trading of Unity Bancorp

Hedge funds have recently added to or reduced their stakes in the business. Allworth Financial LP bought a new position in Unity Bancorp in the 4th quarter worth approximately $67,000. Empowered Funds LLC increased its position in Unity Bancorp by 4.9% during the fourth quarter. Empowered Funds LLC now owns 34,932 shares of the financial services provider’s stock worth $1,523,000 after acquiring an additional 1,629 shares during the period. Foundations Investment Advisors LLC acquired a new position in Unity Bancorp during the 4th quarter valued at $219,000. Inspire Investing LLC bought a new stake in Unity Bancorp in the 4th quarter valued at $845,000. Finally, SG Americas Securities LLC acquired a new stake in Unity Bancorp in the 4th quarter worth $135,000. Institutional investors own 42.31% of the company’s stock.

Analyst Ratings Changes

UNTY has been the topic of several analyst reports. StockNews.com lowered shares of Unity Bancorp from a “buy” rating to a “hold” rating in a research note on Tuesday, October 22nd. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $55.00 target price (up from $51.00) on shares of Unity Bancorp in a research report on Thursday, January 16th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $54.00 price target (up previously from $53.00) on shares of Unity Bancorp in a research report on Thursday, January 16th.

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.