Unity Bancorp, Inc. (NASDAQ:UNTY) Declares Dividend Increase – $0.17 Per Share

Unity Bancorp, Inc. (NASDAQ:UNTY) declared a quarterly dividend on Thursday, August 20th. Stockholders of record on Thursday, September 3rd will be given a dividend of 0.17 per share by the financial services provider on Thursday, September 17th. This represents a c) annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend is Thursday, September 3rd. This is a 6.3% increase from Unity Bancorp’s previous quarterly dividend of $0.16.

Unity Bancorp has increased its dividend by an average of 0.1%annually over the last three years and has increased its dividend every year for the last 12 years. Unity Bancorp has a dividend payout ratio of 11.6% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Unity Bancorp to earn $6.35 per share next year, which means the company should continue to be able to cover its $0.64 annual dividend with an expected future payout ratio of 10.1%.

Unity Bancorp Price Performance

Shares of UNTY opened at $59.11 on Friday. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.88. The business has a fifty day moving average of $58.11 and a 200 day moving average of $55.04. The company has a market cap of $593.46 million, a PE ratio of 10.28 and a beta of 0.62. Unity Bancorp has a 52-week low of $44.34 and a 52-week high of $62.50.

Unity Bancorp (NASDAQ:UNTY) last posted its quarterly earnings data on Tuesday, July 14th. The financial services provider reported $1.42 earnings per share for the quarter, missing analysts’ consensus estimates of $1.44 by ($0.02). Unity Bancorp had a net margin of 30.26% and a return on equity of 16.10%. The firm had revenue of $33.75 million for the quarter, compared to the consensus estimate of $34.62 million. On average, sell-side analysts expect that Unity Bancorp will post 5.86 EPS for the current year.

Unity Bancorp Company Profile

Unity Bancorp, Inc is a bank holding company headquartered in Morrisville, Pennsylvania, trading on the NASDAQ under the ticker UNTY. Through its primary subsidiary, Unity Bank, the company delivers a comprehensive suite of commercial and retail banking services to individuals, businesses and municipal clients in its regional markets.

Founded in 1906, Unity Bank maintains a network of conveniently located branches across Bucks County and adjacent areas of southeastern Pennsylvania. The company’s deposit portfolio includes checking and savings accounts, money market accounts and certificates of deposit, while its loan offerings encompass commercial real estate, construction and land development, agricultural and consumer lending solutions.

Beyond traditional deposit and lending activities, Unity Bancorp provides cash management and merchant services, as well as internet and mobile banking platforms designed to streamline day-to-day financial operations.