James Hughes Sells 1,500 Shares of Unity Bancorp (NASDAQ:UNTY) Stock

Unity Bancorp, Inc. (NASDAQ:UNTY) CEO James Hughes sold 1,500 shares of the company’s stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $54.50, for a total transaction of $81,750.00. Following the sale, the chief executive officer directly owned 173,013 shares of the company’s stock, valued at approximately $9,429,208.50. This represents a 0.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Unity Bancorp Stock Performance

Shares of UNTY opened at $54.25 on Friday. The company has a market capitalization of $544.67 million, a PE ratio of 9.57 and a beta of 0.66. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.15 and a quick ratio of 1.15. Unity Bancorp, Inc. has a one year low of $36.65 and a one year high of $57.30. The company’s fifty day moving average price is $53.82 and its 200 day moving average price is $51.09.

Unity Bancorp (NASDAQ:UNTY) last posted its quarterly earnings data on Tuesday, January 13th. The financial services provider reported $1.41 EPS for the quarter, topping analysts’ consensus estimates of $1.35 by $0.06. Unity Bancorp had a return on equity of 16.19% and a net margin of 30.76%.The business had revenue of $33.70 million for the quarter, compared to analyst estimates of $33.39 million. As a group, analysts expect that Unity Bancorp, Inc. will post 4.83 earnings per share for the current year.

Analyst Upgrades and Downgrades

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Squarepoint Ops LLC grew its stake in shares of Unity Bancorp by 600.2% in the 4th quarter. Squarepoint Ops LLC now owns 40,327 shares of the financial services provider’s stock valued at $2,086,000 after purchasing an additional 34,568 shares during the period. Two Sigma Investments LP boosted its stake in Unity Bancorp by 115.9% in the 3rd quarter. Two Sigma Investments LP now owns 50,920 shares of the financial services provider’s stock valued at $2,488,000 after buying an additional 27,340 shares in the last quarter. American Century Companies Inc. grew its position in Unity Bancorp by 17.7% in the second quarter. American Century Companies Inc. now owns 163,312 shares of the financial services provider’s stock valued at $7,689,000 after acquiring an additional 24,528 shares during the period. Marshall Wace LLP raised its stake in Unity Bancorp by 300.8% during the second quarter. Marshall Wace LLP now owns 29,898 shares of the financial services provider’s stock worth $1,408,000 after acquiring an additional 22,439 shares in the last quarter. Finally, Kennedy Capital Management LLC raised its stake in Unity Bancorp by 32.8% during the fourth quarter. Kennedy Capital Management LLC now owns 78,738 shares of the financial services provider’s stock worth $4,072,000 after acquiring an additional 19,468 shares in the last quarter. Institutional investors own 42.31% of the company’s stock.

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.