Foundations Investment Advisors LLC Takes $219,000 Position in Unity Bancorp, Inc. (NASDAQ:UNTY)

Foundations Investment Advisors LLC purchased a new position in Unity Bancorp, Inc. (NASDAQ:UNTY) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 5,028 shares of the financial services provider’s stock, valued at approximately $219,000.

Several other large investors also recently added to or reduced their stakes in UNTY. Geode Capital Management LLC boosted its holdings in shares of Unity Bancorp by 0.3% in the 3rd quarter. Geode Capital Management LLC now owns 152,590 shares of the financial services provider’s stock worth $5,198,000 after purchasing an additional 492 shares during the period. State Street Corp lifted its position in Unity Bancorp by 0.6% in the third quarter. State Street Corp now owns 94,750 shares of the financial services provider’s stock worth $3,227,000 after buying an additional 607 shares during the last quarter. BNP Paribas Financial Markets boosted its stake in Unity Bancorp by 84.6% during the third quarter. BNP Paribas Financial Markets now owns 2,464 shares of the financial services provider’s stock worth $84,000 after buying an additional 1,129 shares during the period. Empowered Funds LLC increased its position in Unity Bancorp by 5.1% during the third quarter. Empowered Funds LLC now owns 33,303 shares of the financial services provider’s stock valued at $1,134,000 after acquiring an additional 1,608 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new stake in shares of Unity Bancorp in the fourth quarter valued at $135,000. 42.31% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Insider Activity

In other Unity Bancorp news, Director Mark S. Brody sold 2,800 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $47.33, for a total transaction of $132,524.00. Following the sale, the director now owns 70,002 shares of the company’s stock, valued at approximately $3,313,194.66. This trade represents a 3.85 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Vincent Geraci sold 1,043 shares of the business’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $44.98, for a total value of $46,914.14. Following the completion of the transaction, the director now directly owns 8,250 shares of the company’s stock, valued at approximately $371,085. The trade was a 11.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 14,110 shares of company stock worth $658,174. Company insiders own 28.88% of the company’s stock.

Unity Bancorp Trading Up 0.4 %

UNTY stock opened at $48.35 on Friday. The company has a market capitalization of $483.02 million, a PE ratio of 11.91 and a beta of 1.03. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.16 and a quick ratio of 1.16. Unity Bancorp, Inc. has a 12 month low of $25.33 and a 12 month high of $49.13. The firm’s 50-day moving average is $45.10 and its 200 day moving average is $39.03.

Unity Bancorp (NASDAQ:UNTY) last posted 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 net margin of 25.24% and a return on equity of 15.08%. On average, research analysts anticipate that Unity Bancorp, Inc. will post 4.83 EPS for the current year.

Unity Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th were given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.08%. The ex-dividend date of this dividend was Friday, December 13th. Unity Bancorp’s payout ratio is 12.81%.

Unity Bancorp Company Profile

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.