Vincent Geraci Sells 1,043 Shares of Unity Bancorp, Inc. (NASDAQ:UNTY) Stock

Unity Bancorp, Inc. (NASDAQ:UNTY) Director Vincent Geraci sold 1,043 shares of the company’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $44.98, for a total value of $46,914.14. Following the completion of the sale, the director now owns 8,250 shares of the company’s stock, valued at approximately $371,085. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Unity Bancorp Stock Up 1.2 %

NASDAQ UNTY traded up $0.52 during trading on Friday, reaching $45.24. The company’s stock had a trading volume of 2,406 shares, compared to its average volume of 19,377. The business has a 50-day moving average price of $35.55 and a 200-day moving average price of $31.50. Unity Bancorp, Inc. has a 1-year low of $24.74 and a 1-year high of $46.17. The stock has a market capitalization of $451.50 million, a PE ratio of 11.50 and a beta of 0.99. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 1.04.

Unity Bancorp (NASDAQ:UNTY) last issued its quarterly earnings data on Friday, October 11th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.97 by $0.10. The firm had revenue of $27.66 million during the quarter, compared to analysts’ expectations of $26.40 million. Unity Bancorp had a net margin of 24.46% and a return on equity of 14.86%. On average, research analysts forecast that Unity Bancorp, Inc. will post 4.01 earnings per share for the current fiscal year.

Unity Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, September 6th were paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date was Friday, September 6th. Unity Bancorp’s payout ratio is 13.37%.

Wall Street Analysts Forecast Growth

UNTY has been the topic of several research analyst reports. Piper Sandler reiterated an “overweight” rating and set a $44.00 price objective (up from $40.00) on shares of Unity Bancorp in a research report on Monday, October 14th. StockNews.com downgraded Unity Bancorp from a “buy” rating to a “hold” rating in a report on Tuesday, October 22nd. Finally, Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $39.00 price objective (up from $35.00) on shares of Unity Bancorp in a research note on Monday, July 15th.

Institutional Trading of Unity Bancorp

Several large investors have recently modified their holdings of the company. Allspring Global Investments Holdings LLC increased its position in Unity Bancorp by 2,329.8% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,385 shares of the financial services provider’s stock worth $41,000 after buying an additional 1,328 shares during the period. BNP Paribas Financial Markets raised its stake in shares of Unity Bancorp by 80.3% in the 1st quarter. BNP Paribas Financial Markets now owns 3,389 shares of the financial services provider’s stock valued at $94,000 after buying an additional 1,509 shares in the last quarter. Hillsdale Investment Management Inc. boosted its position in shares of Unity Bancorp by 46.9% during the 1st quarter. Hillsdale Investment Management Inc. now owns 4,700 shares of the financial services provider’s stock valued at $130,000 after acquiring an additional 1,500 shares in the last quarter. Ritholtz Wealth Management acquired a new position in shares of Unity Bancorp in the 2nd quarter worth approximately $202,000. Finally, Princeton Capital Management LLC bought a new position in shares of Unity Bancorp during the 3rd quarter worth approximately $208,000. 42.31% of the stock is owned by institutional investors.

Unity Bancorp Company Profile

Unity Bancorp, Inc operates as a bank holding company for Unity Bank that provides range of commercial and retail banking services to individuals, small and medium sized businesses, and professional communities. It offers personal and business checking accounts, time deposits, money market accounts, savings accounts, and retirement accounts, as well as noninterest and interest-bearing demand deposits.