Unity Bancorp (UNTY) to Release Earnings on Friday

Unity Bancorp (NASDAQ:UNTY) is expected to release its earnings data before the market opens on Friday, April 11th. Analysts expect Unity Bancorp to post earnings of $1.12 per share and revenue of $28.81 million for the quarter.

Unity Bancorp (NASDAQ:UNTY) last released 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%. On average, analysts expect Unity Bancorp to post $5 EPS for the current fiscal year and $5 EPS for the next fiscal year.

Unity Bancorp Trading Up 2.9 %

Shares of Unity Bancorp stock opened at $41.22 on Thursday. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.97. Unity Bancorp has a twelve month low of $25.60 and a twelve month high of $51.22. The firm has a market capitalization of $414.59 million, a PE ratio of 10.15 and a beta of 0.80. The firm’s 50-day moving average price is $44.36 and its 200 day moving average price is $43.06.

Unity Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were given a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 1.36%. The ex-dividend date of this dividend was Friday, March 14th. This is an increase from Unity Bancorp’s previous quarterly dividend of $0.13. Unity Bancorp’s dividend payout ratio (DPR) is 13.79%.

Insider Activity at Unity Bancorp

In other news, Director Mary E. Gross sold 3,300 shares of the 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 owns 18,479 shares of the company’s stock, valued at $887,731.16. This represents a 15.15 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Vincent Geraci sold 1,811 shares of Unity Bancorp stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $50.82, for a total transaction of $92,035.02. Following the sale, the director now directly owns 8,312 shares in the company, valued at approximately $422,415.84. The trade was a 17.89 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 7,791 shares of company stock valued at $380,669. 29.68% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research firms recently commented on UNTY. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $55.00 price objective (up from $51.00) on shares of Unity Bancorp in a research note on Thursday, January 16th. Piper Sandler reissued an “overweight” rating and issued a $54.00 price target (up from $53.00) on shares of Unity Bancorp in a research note on Thursday, January 16th.

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.