Mary E. Gross Sells 3,300 Shares of Unity Bancorp, Inc. (NASDAQ:UNTY) Stock

Unity Bancorp, Inc. (NASDAQ:UNTY) Director Mary E. Gross sold 3,300 shares of the company’s stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $48.04, for a total value of $158,532.00. Following the completion of the sale, the director now directly owns 18,479 shares in the company, valued at approximately $887,731.16. The trade was a 15.15 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Unity Bancorp Trading Up 0.1 %

Shares of Unity Bancorp stock opened at $48.15 on Friday. Unity Bancorp, Inc. has a fifty-two week low of $25.33 and a fifty-two week high of $49.13. The business’s fifty day moving average is $45.06 and its two-hundred day moving average is $38.97. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.97. The firm has a market cap of $481.02 million, a PE ratio of 11.86 and a beta of 1.03.

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

Unity Bancorp Announces Dividend

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

Analysts Set New Price Targets

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

Hedge Funds Weigh In On Unity Bancorp

Institutional investors and hedge funds have recently bought and sold shares of the stock. Allworth Financial LP purchased a new stake in shares of Unity Bancorp during the 4th quarter valued at $67,000. BNP Paribas Financial Markets boosted its holdings in 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 acquiring an additional 1,129 shares during the last quarter. SG Americas Securities LLC purchased a new stake in Unity Bancorp during the fourth quarter valued at about $135,000. Princeton Capital Management LLC acquired a new stake in Unity Bancorp during the third quarter worth about $208,000. Finally, Foundations Investment Advisors LLC purchased a new position in shares of Unity Bancorp in the 4th quarter worth about $219,000. Institutional investors and hedge funds own 42.31% of the company’s stock.

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.