Insider Selling: Unity Bancorp, Inc. (NASDAQ:UNTY) Director Sells 1,600 Shares of Stock

Unity Bancorp, Inc. (NASDAQ:UNTY) Director Mark S. Brody sold 1,600 shares of the firm’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $48.32, for a total transaction of $77,312.00. Following the completion of the transaction, the director now directly owns 71,802 shares in the company, valued at $3,469,472.64. This trade represents a 2.18 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Unity Bancorp Stock Performance

NASDAQ:UNTY opened at $49.01 on Wednesday. The company has a fifty day simple moving average of $45.15 and a two-hundred day simple moving average of $39.33. The company has a market cap of $489.61 million, a price-to-earnings ratio of 12.07 and a beta of 1.03. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.97. Unity Bancorp, Inc. has a 52 week low of $25.33 and a 52 week high of $49.44.

Unity Bancorp (NASDAQ:UNTY) last issued its earnings results on Wednesday, January 15th. The financial services provider reported $1.13 EPS for the quarter, topping analysts’ consensus estimates of $1.08 by $0.05. Unity Bancorp had a net margin of 25.24% and a return on equity of 15.08%. As a group, equities analysts anticipate that Unity Bancorp, Inc. will post 4.83 earnings per share for the current fiscal year.

Unity Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th were paid a $0.13 dividend. The ex-dividend date of this dividend was Friday, December 13th. This represents a $0.52 annualized dividend and a yield of 1.06%. Unity Bancorp’s dividend payout ratio is presently 12.81%.

Hedge Funds Weigh In On Unity Bancorp

Large investors have recently bought and sold shares of the stock. Allworth Financial LP purchased a new stake in shares of Unity Bancorp in the fourth quarter valued at about $67,000. BNP Paribas Financial Markets raised its holdings in shares of Unity Bancorp by 84.6% in the third quarter. BNP Paribas Financial Markets now owns 2,464 shares of the financial services provider’s stock valued at $84,000 after buying an additional 1,129 shares during the last quarter. SG Americas Securities LLC purchased a new stake in shares of Unity Bancorp in the fourth quarter valued at about $135,000. Los Angeles Capital Management LLC purchased a new stake in shares of Unity Bancorp in the fourth quarter valued at about $218,000. Finally, Foundations Investment Advisors LLC purchased a new stake in shares of Unity Bancorp in the fourth quarter valued at about $219,000. Institutional investors and hedge funds own 42.31% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on UNTY. Piper Sandler reaffirmed an “overweight” rating and set a $54.00 price target (up previously from $53.00) on shares of Unity Bancorp in a research report on Thursday, January 16th. StockNews.com lowered shares of Unity Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday, October 22nd. Finally, Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $55.00 price target (up previously from $51.00) on shares of Unity Bancorp in a research report on Thursday, January 16th.

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.