Unity Bancorp, Inc. (NASDAQ:UNTY) Shares Sold by EAM Investors LLC

EAM Investors LLC trimmed its stake in Unity Bancorp, Inc. (NASDAQ:UNTY) by 22.3% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 19,352 shares of the financial services provider’s stock after selling 5,559 shares during the quarter. EAM Investors LLC owned approximately 0.19% of Unity Bancorp worth $844,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Allworth Financial LP purchased a new position in Unity Bancorp in the 4th quarter worth about $67,000. BNP Paribas Financial Markets increased its position 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 worth $84,000 after acquiring an additional 1,129 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of Unity Bancorp during the fourth quarter valued at approximately $135,000. Wells Fargo & Company MN raised its holdings in shares of Unity Bancorp by 25.8% during the fourth quarter. Wells Fargo & Company MN now owns 4,159 shares of the financial services provider’s stock valued at $181,000 after acquiring an additional 852 shares during the period. Finally, Thrivent Financial for Lutherans purchased a new stake in shares of Unity Bancorp in the 4th quarter valued at approximately $200,000. 42.31% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Mark S. Brody sold 1,600 shares of Unity Bancorp stock in a transaction on Friday, January 31st. The shares were sold at an average price of $48.32, for a total value of $77,312.00. Following the completion of the sale, the director now owns 71,802 shares of the company’s stock, valued at approximately $3,469,472.64. The trade was a 2.18 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Mary E. Gross sold 3,300 shares of the company’s stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $48.04, for a total transaction 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 7,791 shares of company stock valued at $380,669 in the last three months. Insiders own 29.68% of the company’s stock.

Analysts Set New Price Targets

UNTY has been the topic of several recent analyst reports. Piper Sandler cut their target price on shares of Unity Bancorp from $54.00 to $50.00 and set an “overweight” rating on the stock in a research note on Monday. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $55.00 price target (up from $51.00) on shares of Unity Bancorp in a research report on Thursday, January 16th.

Unity Bancorp Stock Performance

UNTY stock opened at $41.10 on Thursday. The stock has a market cap of $413.38 million, a P/E ratio of 10.12 and a beta of 0.80. 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 has a 50 day simple moving average of $43.44 and a 200 day simple moving average of $43.20. Unity Bancorp, Inc. has a 52 week low of $25.60 and a 52 week high of $51.22.

Unity Bancorp (NASDAQ:UNTY) last issued its earnings results on Friday, April 11th. The financial services provider reported $1.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.12 by $0.01. Unity Bancorp had a net margin of 25.24% and a return on equity of 15.08%. The company had revenue of $29.35 million during the quarter, compared to analyst estimates of $28.81 million. During the same quarter last year, the business posted $0.93 EPS. Research analysts anticipate that Unity Bancorp, Inc. will post 4.83 earnings per share for the current fiscal year.

Unity Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were paid a $0.14 dividend. The ex-dividend date was Friday, March 14th. This represents a $0.56 dividend on an annualized basis and a yield of 1.36%. This is an increase from Unity Bancorp’s previous quarterly dividend of $0.13. Unity Bancorp’s payout ratio is 13.15%.

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.