Unity Bancorp (NASDAQ:UNTY) SVP Sells $13,809.15 in Stock

Unity Bancorp, Inc. (NASDAQ:UNTY) SVP James Joseph Donovan sold 265 shares of Unity Bancorp stock in a transaction that occurred on Thursday, January 29th. The stock was sold at an average price of $52.11, for a total transaction of $13,809.15. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

James Joseph Donovan also recently made the following trade(s):

• On Thursday, January 15th, James Joseph Donovan sold 777 shares of Unity Bancorp stock. The stock was sold at an average price of $56.07, for a total value of $43,566.39.

Unity Bancorp Trading Up 2.9%

Shares of NASDAQ:UNTY traded up $1.56 during mid-day trading on Monday, reaching $55.52. The stock had a trading volume of 57,729 shares, compared to its average volume of 47,248. The firm has a 50 day simple moving average of $52.90 and a two-hundred day simple moving average of $50.66. Unity Bancorp, Inc. has a twelve month low of $36.65 and a twelve month high of $57.24. The firm has a market cap of $557.42 million, a PE ratio of 9.79 and a beta of 0.66. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 0.72.

Unity Bancorp (NASDAQ:UNTY) last issued its quarterly earnings data on Tuesday, January 13th. The financial services provider reported $1.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.35 by $0.06. The firm had revenue of $33.70 million during the quarter, compared to analysts’ expectations of $33.39 million. Unity Bancorp had a net margin of 30.76% and a return on equity of 16.19%. On average, research analysts predict that Unity Bancorp, Inc. will post 4.83 EPS for the current fiscal year.

Unity Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 19th. Shareholders of record on Friday, December 5th were issued a dividend of $0.15 per share. The ex-dividend date was Friday, December 5th. This represents a $0.60 annualized dividend and a yield of 1.1%. Unity Bancorp’s payout ratio is currently 10.58%.

Institutional Trading of Unity Bancorp

Institutional investors have recently made changes to their positions in the business. Salzhauer Michael bought a new position in Unity Bancorp in the fourth quarter valued at $487,000. Axecap Investments LLC raised its holdings in Unity Bancorp by 14.0% during the fourth quarter. Axecap Investments LLC now owns 48,830 shares of the financial services provider’s stock worth $2,525,000 after acquiring an additional 6,013 shares in the last quarter. CWM LLC boosted its position in Unity Bancorp by 38.0% during the fourth quarter. CWM LLC now owns 857 shares of the financial services provider’s stock valued at $44,000 after purchasing an additional 236 shares during the last quarter. State of Alaska Department of Revenue grew its stake in Unity Bancorp by 261.1% in the fourth quarter. State of Alaska Department of Revenue now owns 1,412 shares of the financial services provider’s stock valued at $72,000 after purchasing an additional 1,021 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its position in shares of Unity Bancorp by 31.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 65,477 shares of the financial services provider’s stock worth $3,200,000 after purchasing an additional 15,628 shares during the last quarter. Institutional investors own 42.31% of the company’s stock.

Analyst Upgrades and Downgrades

UNTY has been the subject of a number of research reports. Keefe, Bruyette & Woods increased their target price on Unity Bancorp from $60.00 to $65.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 14th. Wall Street Zen cut shares of Unity Bancorp from a “buy” rating to a “hold” rating in a report on Saturday, November 15th. Weiss Ratings restated a “buy (b)” rating on shares of Unity Bancorp in a report on Wednesday, January 21st. Finally, Piper Sandler boosted their price objective on shares of Unity Bancorp from $64.00 to $65.00 and gave the company an “overweight” rating in a research report on Thursday, January 15th. Three equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, Unity Bancorp has a consensus rating of “Buy” and an average target price of $65.00.

About Unity Bancorp

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.