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 that occurred on Tuesday, February 4th. The shares were sold at an average price of $48.88, for a total transaction of $52,790.40. Following the sale, the senior vice president now directly owns 4,975 shares of the company’s stock, valued at approximately $243,178. This represents a 17.84 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Unity Bancorp Price Performance

Shares of NASDAQ UNTY traded up $0.91 during midday trading on Wednesday, reaching $49.92. The stock had a trading volume of 73,883 shares, compared to its average volume of 45,817. 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 12-month low of $25.33 and a 12-month high of $50.36. The stock has a 50-day moving average of $45.22 and a 200-day moving average of $39.43. The company has a market capitalization of $498.50 million, a price-to-earnings ratio of 12.30 and a beta of 1.03.

Unity Bancorp (NASDAQ:UNTY) last issued its quarterly 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, research analysts anticipate that Unity Bancorp, Inc. will post 4.83 EPS for the current fiscal year.

Unity Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, December 13th were paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 1.04%. The ex-dividend date was Friday, December 13th. Unity Bancorp’s dividend payout ratio (DPR) is presently 12.81%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on UNTY shares. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $55.00 price objective (up from $51.00) on shares of Unity Bancorp in a research note on Thursday, January 16th. StockNews.com cut Unity Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday, October 22nd. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $54.00 price objective (up from $53.00) on shares of Unity Bancorp in a research report on Thursday, January 16th.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. grew its position in shares of Unity Bancorp by 79.3% during the third quarter. JPMorgan Chase & Co. now owns 88,231 shares of the financial services provider’s stock valued at $3,005,000 after purchasing an additional 39,033 shares in the last quarter. Inspire Investing LLC purchased a new position in Unity Bancorp during the 4th quarter valued at approximately $845,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Unity Bancorp in the 3rd quarter worth approximately $623,000. Bank of New York Mellon Corp raised its holdings in shares of Unity Bancorp by 34.0% during the 4th quarter. Bank of New York Mellon Corp now owns 40,102 shares of the financial services provider’s stock worth $1,749,000 after acquiring an additional 10,167 shares in the last quarter. Finally, Barclays PLC boosted its position in shares of 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 last quarter. 42.31% of the stock is owned by hedge funds and other 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.