Mark S. Brody Sells 2,800 Shares of Unity Bancorp, Inc. (NASDAQ:UNTY) Stock

Unity Bancorp, Inc. (NASDAQ:UNTY) Director Mark S. Brody sold 2,800 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $47.33, for a total value of $132,524.00. Following the sale, the director now owns 70,002 shares of the company’s stock, valued at $3,313,194.66. This trade represents a 3.85 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Unity Bancorp Stock Performance

Shares of NASDAQ:UNTY traded down $0.82 on Tuesday, hitting $45.85. 15,198 shares of the company were exchanged, compared to its average volume of 19,770. The firm has a market capitalization of $457.86 million, a P/E ratio of 12.00 and a beta of 0.99. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.97. Unity Bancorp, Inc. has a 1-year low of $25.33 and a 1-year high of $48.22. The stock’s 50 day moving average price is $38.89 and its 200 day moving average price is $33.21.

Unity Bancorp (NASDAQ:UNTY) last issued its quarterly earnings results on Friday, October 11th. The financial services provider reported $1.07 EPS for the quarter, topping analysts’ consensus estimates of $0.97 by $0.10. The company had revenue of $27.66 million during the quarter, compared to analysts’ expectations of $26.40 million. Unity Bancorp had a return on equity of 14.63% and a net margin of 24.46%. Sell-side analysts predict that Unity Bancorp, Inc. will post 4.01 EPS for the current year.

Unity Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be given a $0.13 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.52 dividend on an annualized basis and a yield of 1.13%. Unity Bancorp’s dividend payout ratio is currently 13.37%.

Hedge Funds Weigh In On Unity Bancorp

Institutional investors have recently bought and sold shares of the business. Panagora Asset Management Inc. increased its stake in shares of Unity Bancorp by 2.4% in the second quarter. Panagora Asset Management Inc. now owns 20,852 shares of the financial services provider’s stock worth $617,000 after acquiring an additional 488 shares during the period. O Shaughnessy Asset Management LLC grew its stake in shares of Unity Bancorp by 75.2% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 16,552 shares of the financial services provider’s stock worth $457,000 after purchasing an additional 7,104 shares during the period. Bank of New York Mellon Corp increased its holdings in Unity Bancorp by 7.3% in the second quarter. Bank of New York Mellon Corp now owns 35,083 shares of the financial services provider’s stock valued at $1,037,000 after buying an additional 2,393 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Unity Bancorp by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 414,036 shares of the financial services provider’s stock valued at $11,427,000 after purchasing an additional 3,170 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its holdings 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 purchasing an additional 1,328 shares during the period. 42.31% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

UNTY has been the topic of several analyst reports. Piper Sandler reaffirmed an “overweight” rating and issued a $44.00 price target (up from $40.00) on shares of Unity Bancorp in a report on Monday, October 14th. StockNews.com downgraded Unity Bancorp from a “buy” rating to a “hold” rating in a research note on Tuesday, October 22nd.

About Unity Bancorp

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.