Insider Selling: Unity Bancorp (NASDAQ:UNTY) SVP Sells 777 Shares of Stock

Unity Bancorp, Inc. (NASDAQ:UNTY) SVP James Joseph Donovan sold 777 shares of the business’s stock in a transaction dated Thursday, January 15th. The shares were sold at an average price of $56.07, for a total transaction of $43,566.39. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

James Joseph Donovan also recently made the following trade(s):

• On Wednesday, October 22nd, James Joseph Donovan sold 167 shares of Unity Bancorp stock. The shares were sold at an average price of $48.30, for a total value of $8,066.10.

Unity Bancorp Trading Down 2.5%

Shares of NASDAQ UNTY traded down $1.38 during midday trading on Friday, hitting $54.01. The stock had a trading volume of 45,522 shares, compared to its average volume of 50,111. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.15 and a quick ratio of 1.15. The firm has a market cap of $542.26 million, a P/E ratio of 9.53 and a beta of 0.65. The company’s 50-day simple moving average is $51.71 and its 200 day simple moving average is $50.54. Unity Bancorp, Inc. has a fifty-two week low of $36.65 and a fifty-two week high of $57.24.

Unity Bancorp (NASDAQ:UNTY) last announced its quarterly earnings results on Tuesday, January 13th. The financial services provider reported $1.41 earnings per share for the quarter, beating analysts’ consensus estimates of $1.35 by $0.06. Unity Bancorp had a net margin of 30.76% and a return on equity of 16.19%. The business had revenue of $33.70 million for the quarter, compared to the consensus estimate of $33.39 million. Research analysts anticipate that Unity Bancorp, Inc. will post 4.83 EPS for the current year.

Unity Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 19th. Investors of record on Friday, December 5th were issued a dividend of $0.15 per share. The ex-dividend date of this dividend was Friday, December 5th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.1%. Unity Bancorp’s payout ratio is presently 11.36%.

Analyst Upgrades and Downgrades

UNTY has been the topic of several research reports. Wall Street Zen downgraded shares of Unity Bancorp from a “buy” rating to a “hold” rating in a research note on Saturday, November 15th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Unity Bancorp in a research note on Wednesday, October 8th. Keefe, Bruyette & Woods boosted their target price on shares of Unity Bancorp from $60.00 to $65.00 and gave the stock an “outperform” rating in a research note on Wednesday. Finally, Piper Sandler raised their price target on shares of Unity Bancorp from $64.00 to $65.00 and gave the company an “overweight” rating in a research note on Thursday. Three research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $65.00.

Institutional Investors Weigh In On Unity Bancorp

Several large investors have recently added to or reduced their stakes in UNTY. Ameritas Investment Partners Inc. increased its position in shares of Unity Bancorp by 41.7% during the second quarter. Ameritas Investment Partners Inc. now owns 748 shares of the financial services provider’s stock valued at $35,000 after buying an additional 220 shares during the period. Gator Capital Management LLC increased its holdings in Unity Bancorp by 0.8% during the 3rd quarter. Gator Capital Management LLC now owns 33,536 shares of the financial services provider’s stock worth $1,639,000 after acquiring an additional 280 shares during the period. Hsbc Holdings PLC lifted its stake in Unity Bancorp by 5.1% in the 2nd quarter. Hsbc Holdings PLC now owns 6,056 shares of the financial services provider’s stock worth $287,000 after purchasing an additional 295 shares in the last quarter. BNP Paribas Financial Markets boosted its holdings in Unity Bancorp by 14.8% in the 2nd quarter. BNP Paribas Financial Markets now owns 2,883 shares of the financial services provider’s stock valued at $136,000 after purchasing an additional 372 shares during the period. Finally, Rhumbline Advisers grew its position in shares of Unity Bancorp by 3.7% during the 2nd quarter. Rhumbline Advisers now owns 10,805 shares of the financial services provider’s stock valued at $509,000 after purchasing an additional 385 shares in the last quarter. Hedge funds and other institutional investors own 42.31% of the company’s stock.

Unity Bancorp Company Profile

Unity Bancorp, Inc is a bank holding company headquartered in Morrisville, Pennsylvania, trading on the NASDAQ under the ticker UNTY. Through its primary subsidiary, Unity Bank, the company delivers a comprehensive suite of commercial and retail banking services to individuals, businesses and municipal clients in its regional markets.

Founded in 1906, Unity Bank maintains a network of conveniently located branches across Bucks County and adjacent areas of southeastern Pennsylvania. The company’s deposit portfolio includes checking and savings accounts, money market accounts and certificates of deposit, while its loan offerings encompass commercial real estate, construction and land development, agricultural and consumer lending solutions.

Beyond traditional deposit and lending activities, Unity Bancorp provides cash management and merchant services, as well as internet and mobile banking platforms designed to streamline day-to-day financial operations.