Unity Bancorp, Inc. (NASDAQ:UNTY) Director Vincent Geraci Sells 1,811 Shares

Unity Bancorp, Inc. (NASDAQ:UNTY) Director Vincent Geraci sold 1,811 shares of the stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $50.82, for a total value of $92,035.02. Following the sale, the director now owns 8,312 shares in the company, valued at $422,415.84. The trade was a 17.89 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Unity Bancorp Trading Down 2.6 %

Shares of Unity Bancorp stock opened at $49.51 on Friday. The business has a fifty day simple moving average of $45.41 and a 200-day simple moving average of $39.59. Unity Bancorp, Inc. has a fifty-two week low of $25.60 and a fifty-two week high of $51.22. The firm has a market cap of $494.60 million, a price-to-earnings ratio of 12.19 and a beta of 1.03. 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 (NASDAQ:UNTY) last posted its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.08 by $0.05. Unity Bancorp had a return on equity of 15.08% and a net margin of 25.24%. On average, equities analysts forecast that Unity Bancorp, Inc. will post 4.83 EPS for the current fiscal year.

Unity Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th were issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 1.05%. The ex-dividend date was Friday, December 13th. Unity Bancorp’s dividend payout ratio is 12.81%.

Hedge Funds Weigh In On Unity Bancorp

A number of institutional investors have recently bought and sold shares of the stock. Allworth Financial LP purchased a new stake in Unity Bancorp during the fourth quarter valued at about $67,000. BNP Paribas Financial Markets raised its holdings in shares of Unity Bancorp by 84.6% during the third quarter. BNP Paribas Financial Markets now owns 2,464 shares of the financial services provider’s stock valued at $84,000 after acquiring an additional 1,129 shares during the period. SG Americas Securities LLC purchased a new stake in shares of Unity Bancorp in the 4th quarter valued at approximately $135,000. Princeton Capital Management LLC purchased a new stake in shares of Unity Bancorp in the 3rd quarter valued at approximately $208,000. Finally, Los Angeles Capital Management LLC acquired a new position in Unity Bancorp in the 4th quarter worth approximately $218,000. Hedge funds and other institutional investors own 42.31% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Piper Sandler reiterated 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. StockNews.com lowered shares of Unity Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday, October 22nd. Finally, Keefe, Bruyette & Woods restated an “outperform” rating and set a $55.00 price target (up from $51.00) on shares of Unity Bancorp in a research report on Thursday, January 16th.

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.