LSV Asset Management Has $240,000 Holdings in Unity Bancorp, Inc. (NASDAQ:UNTY)

LSV Asset Management decreased its position in Unity Bancorp, Inc. (NASDAQ:UNTY - Free Report) by 61.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,500 shares of the financial services provider's stock after selling 8,830 shares during the period. LSV Asset Management owned about 0.06% of Unity Bancorp worth $240,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Allworth Financial LP purchased a new stake in Unity Bancorp during the 4th quarter worth approximately $67,000. BNP Paribas Financial Markets grew its position in shares of Unity Bancorp by 84.6% during the third quarter. BNP Paribas Financial Markets now owns 2,464 shares of the financial services provider's stock worth $84,000 after acquiring an additional 1,129 shares during the last quarter. SG Americas Securities LLC acquired a new position in Unity Bancorp in the fourth quarter valued at $135,000. Wells Fargo & Company MN increased its position in Unity Bancorp by 25.8% in the 4th quarter. Wells Fargo & Company MN now owns 4,159 shares of the financial services provider's stock valued at $181,000 after acquiring an additional 852 shares during the period. Finally, Thrivent Financial for Lutherans purchased a new stake in shares of Unity Bancorp during the fourth quarter worth approximately $200,000. 42.31% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Piper Sandler lowered their target price on shares of Unity Bancorp from $54.00 to $50.00 and set an "overweight" rating on the stock in a research report on Monday, April 14th. Keefe, Bruyette & Woods reiterated an "outperform" rating and set a $55.00 price target (up from $51.00) on shares of Unity Bancorp in a report on Thursday, January 16th.

Unity Bancorp Stock Performance

NASDAQ UNTY traded down $0.43 on Monday, hitting $40.89. The stock had a trading volume of 3,242 shares, compared to its average volume of 27,695. Unity Bancorp, Inc. has a one year low of $25.60 and a one year high of $51.22. The stock has a market cap of $411.27 million, a price-to-earnings ratio of 10.15 and a beta of 0.80. The company's 50-day moving average is $43.11 and its two-hundred day moving average is $43.46. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.97.

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

Unity Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 1.37%. The ex-dividend date of this dividend was Friday, March 14th. This is a positive change from Unity Bancorp's previous quarterly dividend of $0.13. Unity Bancorp's dividend payout ratio (DPR) is presently 13.15%.

Insider Activity

In other news, Director Mary E. Gross sold 3,300 shares of the business's stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $48.04, for a total transaction of $158,532.00. Following the completion of the transaction, the director now directly owns 18,479 shares in the company, valued at approximately $887,731.16. The trade was a 15.15 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP James Joseph Donovan sold 1,080 shares of the business's stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $48.88, for a total value of $52,790.40. Following the completion of the transaction, the senior vice president now directly owns 4,975 shares of the company's stock, valued at approximately $243,178. The trade was a 17.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 7,791 shares of company stock worth $380,669. Company insiders own 29.68% of the company's stock.

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.