Unity Bancorp, Inc. (NASDAQ: UNTY) Director Sells $ 20,555.26 in Shares
Unity Bancorp, Inc. (NASDAQ: UNTY) director Mark S. Brody sold 802 shares in a trade dated Friday, December 3. The shares were sold at an average price of $ 25.63, for a total trade of $ 20,555.26. The sale was disclosed in a legal file with the Securities & Exchange Commission, accessible through this hyperlink.
UNTY shares traded up $ 0.69 at midday on Tuesday, reaching $ 25.85. The company had a trading volume of 10,434 shares, compared to an average volume of 28,637. The company has a market capitalization of $ 268.17 million, a PE ratio of 8.10 and a beta of 1.30. The company’s fifty-day simple moving average is $ 25.22. Unity Bancorp, Inc. has a fifty-two week low of $ 15.97 and a fifty-two week high of $ 28.91. The company has a debt to equity ratio of 0.36, a quick ratio of 1.08, and a current ratio of 1.08.
Unity Bancorp (NASDAQ: UNTY) last reported its quarterly results on Thursday, October 14. The financial services provider reported earnings of $ 0.90 per share for the quarter, beating the Zacks’ consensus estimate of $ 0.83 of $ 0.07. The company posted revenue of $ 22.53 million for the quarter, compared to analysts’ estimate of $ 22.20 million. Unity Bancorp had a net margin of 34.90% and a return on equity of 18.20%. On average, equity research analysts expect Unity Bancorp, Inc. to post 3.37 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 31. Shareholders of record on Friday, December 17 will receive a dividend of $ 0.10. This represents a dividend of $ 0.40 on an annualized basis and a dividend yield of 1.55%. The ex-dividend date is Thursday, December 16. This is a positive change from Unity Bancorp’s previous quarterly dividend of $ 0.09. Unity Bancorp’s dividend payout ratio (DPR) is 11.29%.
Institutional investors and hedge funds have recently changed their positions in the company. Royal Bank of Canada increased its holdings of Unity Bancorp shares by 515.7% in the second quarter. Royal Bank of Canada now owns 3,011 shares of the financial services provider valued at $ 66,000 after purchasing an additional 2,522 shares in the last quarter. Citadel Advisors LLC purchased a new position in Unity Bancorp shares in the second quarter valued at $ 245,000. Tibra Equities Europe Ltd bought a new position in Unity Bancorp shares in the 2nd quarter valued at $ 295,000. Goldman Sachs Group Inc. increased its stake in Unity Bancorp by 14.5% in the 2nd quarter. Goldman Sachs Group Inc. now owns 15,186 shares of the financial services provider valued at $ 335,000 after acquiring an additional 1,919 shares during the period. Finally, American Century Companies Inc. increased its stake in Unity Bancorp by 37.6% in the second quarter. American Century Companies Inc. now owns 15,275 shares of the financial services provider valued at $ 337,000 after acquiring an additional 4,170 shares during the period. Institutional investors hold 51.82% of the shares of the company.
Separately, Zacks Investment Research upgraded Unity Bancorp shares from a “hold” rating to a “buy” rating and set a price target of $ 28.00 on the stock in a research report released on Tuesday. October 19.
Unity Bancorp Company Profile
Unity Bancorp, Inc. is a banking holding company, which owns and supervises Unity Bank. The company accepts personal and business checking accounts, term deposits, money market accounts, regular savings accounts, and demand and savings deposits. Its loan portfolio includes credit cards, mortgages, home equity, and personal loans.
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