Unity Bancorp (NASDAQ:UNTY) Director Mark Brody Sells 1,600 Shares

Unity Bancorp, Inc. (NASDAQ:UNTY) Director Mark Brody sold 1,600 shares of Unity Bancorp stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $55.23, for a total value of $88,368.00. Following the completion of the transaction, the director directly owned 113,854 shares in the company, valued at approximately $6,288,156.42. This represents a 1.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Unity Bancorp Stock Performance

NASDAQ UNTY traded down $0.53 during trading on Friday, hitting $55.72. The company’s stock had a trading volume of 54,399 shares, compared to its average volume of 47,285. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.72. The firm has a 50 day moving average price of $53.17 and a 200 day moving average price of $52.71. The firm has a market cap of $559.43 million, a P/E ratio of 9.38 and a beta of 0.60. Unity Bancorp, Inc. has a 52 week low of $41.67 and a 52 week high of $57.30.

Unity Bancorp (NASDAQ:UNTY) last issued its quarterly earnings results on Tuesday, April 14th. The financial services provider reported $1.40 EPS for the quarter, topping the consensus estimate of $1.37 by $0.03. The company had revenue of $33.61 million for the quarter, compared to the consensus estimate of $33.59 million. Unity Bancorp had a return on equity of 16.06% and a net margin of 31.33%. Equities research analysts forecast that Unity Bancorp, Inc. will post 5.84 earnings per share for the current fiscal year.

Unity Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 18th. Shareholders of record on Thursday, June 4th will be given a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Thursday, June 4th. Unity Bancorp’s payout ratio is currently 10.77%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on UNTY shares. Brean Capital started coverage on Unity Bancorp in a report on Wednesday, April 22nd. They set a “buy” rating and a $61.00 price objective on the stock. DA Davidson started coverage on Unity Bancorp in a report on Friday, May 15th. They set a “buy” rating and a $68.00 price objective on the stock. Finally, Weiss Ratings raised Unity Bancorp from a “buy (b)” rating to a “buy (b+)” rating in a report on Monday, May 4th. Five investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, Unity Bancorp presently has a consensus rating of “Buy” and a consensus target price of $64.75.

Institutional Trading of Unity Bancorp

Several institutional investors have recently bought and sold shares of UNTY. CWM LLC boosted its stake in Unity Bancorp by 38.0% in the 4th quarter. CWM LLC now owns 857 shares of the financial services provider’s stock valued at $44,000 after buying an additional 236 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in Unity Bancorp by 159.1% in the 3rd quarter. Russell Investments Group Ltd. now owns 987 shares of the financial services provider’s stock valued at $48,000 after buying an additional 606 shares in the last quarter. Strs Ohio acquired a new stake in Unity Bancorp in the 1st quarter valued at $49,000. State of Alaska Department of Revenue boosted its stake in Unity Bancorp by 261.1% in the 4th quarter. State of Alaska Department of Revenue now owns 1,412 shares of the financial services provider’s stock valued at $72,000 after buying an additional 1,021 shares in the last quarter. Finally, AlphaQuest LLC acquired a new stake in Unity Bancorp in the 3rd quarter valued at $91,000. Institutional investors and hedge funds 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.