Dynamic Technology Lab Private Ltd Makes New $411,000 Investment in Unity Bancorp, Inc. $UNTY

Key Points

• Dynamic Technology Lab Private Ltd acquired a new stake in Unity Bancorp, buying 10,110 shares valued at approximately $411,000, which represents 0.10% of the company's total shares.
• Unity Bancorp recently declared a quarterly dividend increase from $0.14 to $0.15, with a dividend yield of 1.1% and an ex-dividend date set for September 5th.
• Brokerages recently updated their ratings on Unity Bancorp, with Wall Street Zen lowering its rating from "buy" to "hold", while Keefe, Bruyette & Woods raised its price target to $63.00 and maintained an "outperform" rating.

Dynamic Technology Lab Private Ltd purchased a new position in Unity Bancorp, Inc. (NASDAQ:UNTY - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 10,110 shares of the financial services provider's stock, valued at approximately $411,000. Dynamic Technology Lab Private Ltd owned about 0.10% of Unity Bancorp as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. CWM LLC increased its stake in Unity Bancorp by 122.5% in the first quarter. CWM LLC now owns 612 shares of the financial services provider's stock worth $25,000 after purchasing an additional 337 shares during the period. Public Employees Retirement System of Ohio purchased a new stake in Unity Bancorp in the fourth quarter worth $33,000. Whipplewood Advisors LLC increased its stake in Unity Bancorp by 11,000.0% in the first quarter. Whipplewood Advisors LLC now owns 1,221 shares of the financial services provider's stock worth $50,000 after purchasing an additional 1,210 shares during the period. GAMMA Investing LLC increased its stake in Unity Bancorp by 11,262.5% in the first quarter. GAMMA Investing LLC now owns 2,727 shares of the financial services provider's stock worth $111,000 after purchasing an additional 2,703 shares during the period. Finally, Virtus Investment Advisers Inc. purchased a new stake in Unity Bancorp in the fourth quarter worth $148,000. Hedge funds and other institutional investors own 42.31% of the company's stock.

Unity Bancorp Stock Up 2.3%

UNTY traded up $1.16 on Wednesday, hitting $52.44. The company had a trading volume of 8,295 shares, compared to its average volume of 47,040. The stock has a fifty day moving average price of $50.86 and a 200-day moving average price of $46.01. Unity Bancorp, Inc. has a 12-month low of $32.23 and a 12-month high of $54.64. The company has a debt-to-equity ratio of 1.21, a quick ratio of 1.20 and a current ratio of 1.20. The stock has a market capitalization of $525.92 million, a price-to-earnings ratio of 10.61 and a beta of 0.79.

Unity Bancorp (NASDAQ:UNTY - Get Free Report) last posted its earnings results on Tuesday, July 15th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.17 by $0.03. The company had revenue of $34.37 million for the quarter, compared to analyst estimates of $30.30 million. Unity Bancorp had a return on equity of 15.34% and a net margin of 28.72%. Analysts predict that Unity Bancorp, Inc. will post 4.83 EPS for the current fiscal year.

Unity Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 19th. Shareholders of record on Friday, September 5th will be issued a $0.15 dividend. This is a boost from Unity Bancorp's previous quarterly dividend of $0.14. This represents a $0.60 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Friday, September 5th. Unity Bancorp's dividend payout ratio is 12.15%.

Analysts Set New Price Targets

A number of research firms have weighed in on UNTY. Wall Street Zen upgraded Unity Bancorp from a "hold" rating to a "buy" rating in a research note on Saturday. Keefe, Bruyette & Woods increased their target price on Unity Bancorp from $55.00 to $63.00 and gave the stock an "outperform" rating in a research note on Friday, July 18th. Two investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $56.50.

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.