Unity Bancorp, Inc. (UNTY) To Go Ex-Dividend on September 3rd

Unity Bancorp, Inc. (NASDAQ:UNTY) announced a quarterly dividend on Thursday, August 20th. Stockholders of record on Thursday, September 3rd will be paid 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 1.1%. 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 payment by an average of 0.1%per year over the last three years and has raised 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. 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 Unity Bancorp stock opened at $59.44 on Friday. The firm has a market cap of $596.96 million, a P/E ratio of 10.34 and a beta of 0.62. The firm’s 50-day simple moving average is $58.16 and its 200-day simple moving average is $55.07. Unity Bancorp has a twelve month low of $44.34 and a twelve month high of $62.50. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.17 and a current ratio of 1.17.

Unity Bancorp (NASDAQ:UNTY) last announced its quarterly earnings results on Tuesday, July 14th. The financial services provider reported $1.42 EPS for the quarter, missing the consensus estimate of $1.44 by ($0.02). Unity Bancorp had a net margin of 30.26% and a return on equity of 16.10%. The company had revenue of $33.75 million during the quarter, compared to analyst estimates of $34.62 million. As a group, research analysts expect that Unity Bancorp will post 5.86 EPS for the current fiscal year.

Insider Buying and Selling at Unity Bancorp

In other news, Director Mark S. Brody sold 1,600 shares of the company’s stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $55.23, for a total transaction of $88,368.00. Following the transaction, the director directly owned 113,854 shares in the company, valued at approximately $6,288,156.42. This represents a 1.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 28.87% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of UNTY. CWM LLC raised its holdings in Unity Bancorp by 38.0% during the 4th quarter. CWM LLC now owns 857 shares of the financial services provider’s stock worth $44,000 after purchasing an additional 236 shares during the last quarter. Legal & General Group Plc acquired a new position in Unity Bancorp during the second quarter valued at approximately $44,000. Russell Investments Group Ltd. increased its stake in Unity Bancorp by 159.1% in the third quarter. Russell Investments Group Ltd. now owns 987 shares of the financial services provider’s stock valued at $48,000 after purchasing an additional 606 shares in the last quarter. Strs Ohio bought a new stake in Unity Bancorp in the first quarter valued at approximately $49,000. Finally, State of Alaska Department of Revenue raised its stake in Unity Bancorp by 261.1% during the 4th quarter. State of Alaska Department of Revenue now owns 1,412 shares of the financial services provider’s stock worth $72,000 after buying an additional 1,021 shares during the period. Institutional investors and hedge funds 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.