James A. Hughes Buys 875 Shares of Unity Bancorp, Inc. (NASDAQ:UNTY) Stock
Unity Bancorp, Inc. (NASDAQ:UNTY) CEO James A. Hughes bought 875 shares of the business’s stock in a transaction on Thursday, August 10th. The shares were bought at an average price of $16.95 per share, for a total transaction of $14,831.25. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Shares of Unity Bancorp, Inc. (NASDAQ UNTY) traded down 0.59% during midday trading on Friday, hitting $16.85. The stock had a trading volume of 6,490 shares. Unity Bancorp, Inc. has a 1-year low of $11.18 and a 1-year high of $18.90. The company’s 50 day moving average price is $17.80 and its 200-day moving average price is $16.91. The firm has a market capitalization of $178.05 million, a PE ratio of 13.37 and a beta of 0.42.
Unity Bancorp (NASDAQ:UNTY) last announced its quarterly earnings results on Tuesday, July 25th. The financial services provider reported $0.32 EPS for the quarter. Unity Bancorp had a net margin of 21.65% and a return on equity of 12.32%. The business had revenue of $13.17 million for the quarter.
A number of hedge funds and other institutional investors have recently made changes to their positions in UNTY. Northern Trust Corp raised its position in shares of Unity Bancorp by 295.6% in the second quarter. Northern Trust Corp now owns 89,660 shares of the financial services provider’s stock worth $1,542,000 after buying an additional 66,996 shares during the period. Bank of New York Mellon Corp bought a new position in shares of Unity Bancorp during the second quarter worth approximately $501,000. TIAA CREF Investment Management LLC bought a new position in shares of Unity Bancorp during the second quarter worth approximately $346,000. Vanguard Group Inc. raised its position in shares of Unity Bancorp by 6.5% in the second quarter. Vanguard Group Inc. now owns 296,000 shares of the financial services provider’s stock worth $5,091,000 after buying an additional 18,112 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in shares of Unity Bancorp by 5.8% in the second quarter. Dimensional Fund Advisors LP now owns 289,279 shares of the financial services provider’s stock worth $4,975,000 after buying an additional 15,952 shares during the period. Institutional investors and hedge funds own 42.88% of the company’s stock.
Separately, ValuEngine upgraded Unity Bancorp from a “hold” rating to a “buy” rating in a report on Friday, June 2nd.
About Unity Bancorp
Unity Bancorp, Inc is a bank holding company that serves as a holding company for Unity Bank (the Bank). The Company’s primary business is ownership and supervision of the Bank. The Company, through the Bank, conducts a traditional and community-oriented commercial banking business and offers services, such as personal and business checking accounts, time deposits, money market accounts and regular savings accounts.
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