Insider Selling: Unity Bancorp, Inc. (NASDAQ:UNTY) Director Sells 3,300 Shares of Stock

Unity Bancorp, Inc. (NASDAQ:UNTY) Director Mary E. Gross sold 3,300 shares of the firm’s stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $48.04, for a total transaction of $158,532.00. Following the transaction, the director now owns 18,479 shares of the company’s stock, valued at $887,731.16. This trade represents a 15.15 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Unity Bancorp Stock Performance

Shares of NASDAQ UNTY opened at $48.08 on Thursday. The company has a 50-day simple moving average of $44.99 and a 200-day simple moving average of $38.90. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.16 and a quick ratio of 1.16. The company has a market cap of $480.32 million, a PE ratio of 11.84 and a beta of 1.03. Unity Bancorp, Inc. has a 12 month low of $25.33 and a 12 month high of $49.03.

Unity Bancorp (NASDAQ:UNTY) last issued its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.13 earnings per share 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 anticipate that Unity Bancorp, Inc. will post 4.83 earnings per share for the current year.

Unity Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, December 13th were given a dividend of $0.13 per share. The ex-dividend date was Friday, December 13th. This represents a $0.52 annualized dividend and a yield of 1.08%. Unity Bancorp’s dividend payout ratio (DPR) is presently 12.81%.

Analysts Set New Price Targets

UNTY has been the subject of a number of recent research reports. StockNews.com cut shares of Unity Bancorp from a “buy” rating to a “hold” rating in a research note on Tuesday, October 22nd. Piper Sandler reissued an “overweight” rating and issued a $54.00 price target (up from $53.00) on shares of Unity Bancorp in a report on Thursday, January 16th. Finally, Keefe, Bruyette & Woods restated an “outperform” rating and issued a $55.00 price objective (up from $51.00) on shares of Unity Bancorp in a research report on Thursday, January 16th.

Institutional Trading of Unity Bancorp

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. boosted its holdings in shares of Unity Bancorp by 79.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 88,231 shares of the financial services provider’s stock valued at $3,005,000 after purchasing an additional 39,033 shares during the last quarter. Inspire Investing LLC purchased a new position in shares of Unity Bancorp in the 4th quarter worth $845,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Unity Bancorp in the third quarter valued at $623,000. Barclays PLC grew its position in Unity Bancorp by 93.1% during the third quarter. Barclays PLC now owns 14,197 shares of the financial services provider’s stock valued at $484,000 after acquiring an additional 6,846 shares during the period. Finally, Princeton Capital Management LLC acquired a new stake in Unity Bancorp during the third quarter worth about $208,000. Hedge funds and other institutional investors own 42.31% of the company’s stock.

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.