Wellington Management Group LLP Boosts Position in Unity Bancorp, Inc. (NASDAQ:UNTY)

Wellington Management Group LLP raised its holdings in Unity Bancorp, Inc. (NASDAQ:UNTY - Free Report) by 6.4% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 310,953 shares of the financial services provider's stock after acquiring an additional 18,660 shares during the period. Wellington Management Group LLP owned approximately 3.09% of Unity Bancorp worth $13,561,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Invesco Ltd. raised its holdings in shares of Unity Bancorp by 647.3% during the 4th quarter. Invesco Ltd. now owns 100,812 shares of the financial services provider's stock valued at $4,396,000 after buying an additional 87,321 shares in the last quarter. Segall Bryant & Hamill LLC purchased a new position in shares of Unity Bancorp during the 4th quarter valued at about $1,795,000. JPMorgan Chase & Co. raised its holdings in shares of Unity Bancorp by 46.1% during the 4th 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. American Century Companies Inc. raised its holdings in shares of Unity Bancorp by 53.4% during the 4th 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. Finally, Delphi Management Inc. MA purchased a new position in shares of Unity Bancorp during the 4th quarter valued at about $1,256,000. Hedge funds and other institutional investors own 42.31% of the company's stock.

Unity Bancorp Trading Up 1.6%

Unity Bancorp stock traded up $0.69 during trading hours on Friday, reaching $42.99. The company had a trading volume of 21,398 shares, compared to its average volume of 31,486. 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 50-day moving average price of $42.47 and a 200 day moving average price of $44.23. The firm has a market cap of $431.23 million, a price-to-earnings ratio of 10.59 and a beta of 0.71. Unity Bancorp, Inc. has a 12-month low of $25.60 and a 12-month high of $51.22.

Unity Bancorp (NASDAQ:UNTY - Get Free Report) last announced its quarterly earnings results on Friday, April 11th. The financial services provider reported $1.13 EPS for the quarter, topping analysts' consensus estimates of $1.12 by $0.01. The business had revenue of $29.35 million for the quarter, compared to analysts' expectations of $28.81 million. Unity Bancorp had a return on equity of 15.08% and a net margin of 25.24%. During the same period in the previous year, the firm earned $0.93 EPS. Equities analysts forecast that Unity Bancorp, Inc. will post 4.83 earnings per share for the current year.

Unity Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Friday, June 6th will be paid a $0.14 dividend. The ex-dividend date of this dividend is Friday, June 6th. This represents a $0.56 dividend on an annualized basis and a yield of 1.30%. Unity Bancorp's dividend payout ratio (DPR) is currently 13.15%.

Insiders Place Their Bets

In other news, Director Donald E. Jr. Souders sold 1,333 shares of the business's stock in a transaction that occurred 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. The trade was a 13.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 29.68% of the company's stock.

Wall Street Analyst Weigh In

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

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.