Vincent Geraci Sells 1,811 Shares of Unity Bancorp, Inc. (NASDAQ:UNTY) Stock

Unity Bancorp, Inc. (NASDAQ:UNTY) Director Vincent Geraci sold 1,811 shares of the stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $50.82, for a total value of $92,035.02. Following the completion of the transaction, the director now directly owns 8,312 shares in the company, valued at $422,415.84. This trade represents a 17.89 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Unity Bancorp Price Performance

Shares of Unity Bancorp stock traded down $0.86 during midday trading on Friday, hitting $49.99. 9,466 shares of the company traded hands, compared to its average volume of 44,021. Unity Bancorp, Inc. has a 12 month low of $25.60 and a 12 month high of $51.22. The stock has a market cap of $499.44 million, a price-to-earnings ratio of 12.24 and a beta of 1.03. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.16 and a current ratio of 1.16. The firm’s fifty day moving average price is $45.41 and its 200-day moving average price is $39.59.

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%. As a group, sell-side analysts forecast that Unity Bancorp, Inc. will post 4.83 earnings per share for the current year.

Unity Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th were issued a $0.13 dividend. The ex-dividend date of this dividend was Friday, December 13th. This represents a $0.52 annualized dividend and a dividend yield of 1.04%. Unity Bancorp’s payout ratio is currently 12.81%.

Institutional Investors Weigh In On Unity Bancorp

Hedge funds have recently made changes to their positions in the business. Empowered Funds LLC boosted its stake in shares of Unity Bancorp by 5.1% during the 3rd quarter. Empowered Funds LLC now owns 33,303 shares of the financial services provider’s stock valued at $1,134,000 after purchasing an additional 1,608 shares in the last quarter. Princeton Capital Management LLC bought a new position in shares of Unity Bancorp during the third quarter valued at $208,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in Unity Bancorp during the third quarter valued at approximately $623,000. BNP Paribas Financial Markets increased its position 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 valued at $84,000 after acquiring an additional 1,129 shares during the last quarter. Finally, State Street Corp lifted its stake in shares of Unity Bancorp by 0.6% in the 3rd quarter. State Street Corp now owns 94,750 shares of the financial services provider’s stock worth $3,227,000 after purchasing an additional 607 shares during the period. 42.31% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. StockNews.com downgraded shares of Unity Bancorp from a “buy” rating to a “hold” rating in a report on Tuesday, October 22nd. Piper Sandler reissued an “overweight” rating and set a $54.00 price objective (up previously from $53.00) on shares of Unity Bancorp in a research report on Thursday, January 16th. Finally, Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $55.00 price objective (up from $51.00) on shares of Unity Bancorp in a 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.