Unity Bancorp (NASDAQ:UNTY) Director Vincent Geraci Sells 1,573 Shares

Unity Bancorp, Inc. (NASDAQ:UNTY) Director Vincent Geraci sold 1,573 shares of the business’s stock in a transaction dated Thursday, January 15th. The stock was sold at an average price of $55.38, for a total transaction of $87,112.74. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Unity Bancorp Trading Down 2.5%

Shares of Unity Bancorp stock opened at $54.01 on Friday. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 0.72. Unity Bancorp, Inc. has a twelve month low of $36.65 and a twelve month high of $57.24. The firm has a market capitalization of $542.21 million, a PE ratio of 9.53 and a beta of 0.65. The firm’s 50-day moving average price is $51.86 and its 200 day moving average price is $50.59.

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

Unity Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 19th. Investors of record on Friday, December 5th were paid a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend was Friday, December 5th. Unity Bancorp’s dividend payout ratio is currently 10.58%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on UNTY. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Unity Bancorp in a report on Wednesday, October 8th. Wall Street Zen cut shares of Unity Bancorp from a “buy” rating to a “hold” rating in a research note on Saturday, November 15th. Keefe, Bruyette & Woods raised 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 boosted their target price on Unity Bancorp from $64.00 to $65.00 and gave the stock an “overweight” rating in a report on Thursday. Three investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, Unity Bancorp presently has a consensus rating of “Buy” and an average price target of $65.00.

Institutional Trading of Unity Bancorp

Several hedge funds have recently made changes to their positions in the company. Two Sigma Investments LP raised its position in shares of Unity Bancorp by 115.9% during the 3rd quarter. Two Sigma Investments LP now owns 50,920 shares of the financial services provider’s stock valued at $2,488,000 after buying an additional 27,340 shares during the period. American Century Companies Inc. increased its stake in Unity Bancorp by 17.7% during the second quarter. American Century Companies Inc. now owns 163,312 shares of the financial services provider’s stock worth $7,689,000 after acquiring an additional 24,528 shares during the last quarter. Marshall Wace LLP raised its position in Unity Bancorp by 300.8% in the second quarter. Marshall Wace LLP now owns 29,898 shares of the financial services provider’s stock valued at $1,408,000 after purchasing an additional 22,439 shares during the period. Millennium Management LLC lifted its stake in shares of Unity Bancorp by 210.0% in the 3rd quarter. Millennium Management LLC now owns 25,571 shares of the financial services provider’s stock valued at $1,250,000 after purchasing an additional 17,322 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in shares of Unity Bancorp by 31.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 65,477 shares of the financial services provider’s stock worth $3,200,000 after purchasing an additional 15,628 shares during the period. Hedge funds and other institutional investors own 42.31% of the company’s stock.

About Unity Bancorp

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.