Man Group plc Makes New $304,000 Investment in Unity Bancorp, Inc. (NASDAQ:UNTY)

Man Group plc purchased a new stake in Unity Bancorp, Inc. (NASDAQ:UNTY - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 6,980 shares of the financial services provider's stock, valued at approximately $304,000. Man Group plc owned 0.07% of Unity Bancorp as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Allworth Financial LP bought a new stake in Unity Bancorp during the fourth quarter worth $67,000. SG Americas Securities LLC bought a new position in shares of Unity Bancorp during the fourth quarter worth about $135,000. State of Tennessee Department of Treasury bought a new stake in shares of Unity Bancorp in the 4th quarter valued at $154,000. Wells Fargo & Company MN grew its holdings in Unity Bancorp by 25.8% during the 4th quarter. Wells Fargo & Company MN now owns 4,159 shares of the financial services provider's stock worth $181,000 after acquiring an additional 852 shares during the period. Finally, Thrivent Financial for Lutherans bought a new stake in Unity Bancorp in the fourth quarter worth approximately $200,000. 42.31% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, Director Donald E. Jr. Souders sold 1,333 shares of the company's stock in a transaction on Thursday, April 24th. The stock was sold at an average price of $41.23, for a total transaction of $54,959.59. Following the transaction, the director now directly owns 8,477 shares of the company's stock, valued at approximately $349,506.71. This represents a 13.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 29.68% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on UNTY shares. Wall Street Zen cut shares of Unity Bancorp from a "buy" rating to a "hold" rating in a research report on Saturday, May 24th. Piper Sandler cut their price target on shares of Unity Bancorp from $54.00 to $50.00 and set an "overweight" rating for the company in a research note on Monday, April 14th.

Unity Bancorp Stock Up 2.8%

Unity Bancorp stock traded up $1.22 during mid-day trading on Thursday, reaching $44.73. The stock had a trading volume of 99,308 shares, compared to its average volume of 30,924. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.16 and a quick ratio of 1.16. The company has a market capitalization of $448.69 million, a price-to-earnings ratio of 11.02 and a beta of 0.69. Unity Bancorp, Inc. has a one year low of $25.60 and a one year high of $51.22. The company has a 50-day moving average price of $42.22 and a two-hundred day moving average price of $44.34.

Unity Bancorp (NASDAQ:UNTY - Get Free Report) last issued its quarterly earnings data on Friday, April 11th. The financial services provider reported $1.13 earnings per share for the quarter, beating analysts' consensus estimates of $1.12 by $0.01. The company had revenue of $29.35 million for the quarter, compared to the consensus estimate of $28.81 million. Unity Bancorp had a net margin of 25.24% and a return on equity of 15.08%. During the same quarter in the prior year, the firm earned $0.93 earnings per share. On average, analysts expect that Unity Bancorp, Inc. will post 4.83 EPS for the current fiscal year.

Unity Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Friday, June 6th will be given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 1.25%. The ex-dividend date is Friday, June 6th. Unity Bancorp's dividend payout ratio is currently 13.15%.

Unity Bancorp 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.