Universal Beteiligungs und Servicegesellschaft mbH Takes $602,000 Position in Unity Bancorp, Inc. (NASDAQ:UNTY)

Key Points

• Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Unity Bancorp, Inc. worth approximately $602,000 during the first quarter, owning about 0.15% of the company's stock.
• Unity Bancorp reported a quarterly EPS of $1.20, surpassing analysts' estimates of $1.17, with a net margin of 28.72% and a return on equity of 15.66%.
• The company declared a quarterly dividend of $0.14 per share, representing an annualized yield of 1.2% and a payout ratio of 11.34%.

Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Unity Bancorp, Inc. (NASDAQ:UNTY - Free Report) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 14,800 shares of the financial services provider's stock, valued at approximately $602,000. Universal Beteiligungs und Servicegesellschaft mbH owned about 0.15% of Unity Bancorp as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in UNTY. Thrivent Financial for Lutherans bought a new position in shares of Unity Bancorp in the fourth quarter valued at $200,000. American Century Companies Inc. grew its stake in shares of Unity Bancorp by 53.4% in the fourth quarter. American Century Companies Inc. now owns 97,975 shares of the financial services provider's stock valued at $4,273,000 after buying an additional 34,089 shares in the last quarter. Sei Investments Co. bought a new position in shares of Unity Bancorp in the fourth quarter valued at $339,000. Prudential Financial Inc. bought a new position in shares of Unity Bancorp in the fourth quarter valued at $450,000. Finally, JPMorgan Chase & Co. grew its stake in shares of Unity Bancorp by 46.1% in the fourth quarter. JPMorgan Chase & Co. now owns 128,941 shares of the financial services provider's stock valued at $5,623,000 after buying an additional 40,710 shares in the last quarter. 42.31% of the stock is currently owned by institutional investors and hedge funds.

Unity Bancorp Trading Down 2.6%

UNTY stock opened at $47.85 on Friday. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.15 and a quick ratio of 1.15. The company has a fifty day moving average price of $47.80 and a two-hundred day moving average price of $45.46. Unity Bancorp, Inc. has a one year low of $30.27 and a one year high of $54.64. The stock has a market cap of $479.94 million, a price-to-earnings ratio of 9.69 and a beta of 0.78.

Unity Bancorp (NASDAQ:UNTY - Get Free Report) last released its quarterly earnings data on Tuesday, July 15th. The financial services provider reported $1.20 EPS for the quarter, topping analysts' consensus estimates of $1.17 by $0.03. Unity Bancorp had a net margin of 28.72% and a return on equity of 15.66%. The firm had revenue of $34.37 million during the quarter, compared to analysts' expectations of $30.30 million. Equities analysts anticipate that Unity Bancorp, Inc. will post 4.83 EPS for the current year.

Unity Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Friday, June 6th were given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend was Friday, June 6th. Unity Bancorp's payout ratio is 11.34%.

Wall Street Analyst Weigh In

UNTY has been the subject of several analyst reports. Wall Street Zen cut shares of Unity Bancorp from a "buy" rating to a "hold" rating in a research note on Saturday, May 24th. Piper Sandler decreased their target price 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. Finally, Keefe, Bruyette & Woods raised their target price on shares of Unity Bancorp from $55.00 to $63.00 and gave the company an "outperform" rating in a research note on Friday, July 18th.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.