Insider Selling: Unity Bancorp, Inc. (NASDAQ:UNTY) Director Sells $70,694.00 in Stock

Unity Bancorp, Inc. (NASDAQ:UNTY - Get Free Report) Director Vincent Geraci sold 2,600 shares of the firm's stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $27.19, for a total value of $70,694.00. Following the sale, the director now owns 1,043 shares of the company's stock, valued at approximately $28,359.17. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

Unity Bancorp Stock Performance

NASDAQ:UNTY traded up $0.26 during trading hours on Friday, reaching $27.70. 3,612 shares of the stock were exchanged, compared to its average volume of 17,026. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 1.40. The firm has a 50 day simple moving average of $27.23 and a 200-day simple moving average of $27.09. Unity Bancorp, Inc. has a 52 week low of $20.01 and a 52 week high of $30.70. The stock has a market capitalization of $280.91 million, a P/E ratio of 7.27 and a beta of 1.04.

Unity Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 1.88%. The ex-dividend date of this dividend was Thursday, March 14th. This is an increase from Unity Bancorp's previous quarterly dividend of $0.12. Unity Bancorp's dividend payout ratio (DPR) is currently 13.65%.

Analyst Ratings Changes

Separately, StockNews.com lowered Unity Bancorp from a "buy" rating to a "hold" rating in a research note on Friday, February 2nd.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of UNTY. GSA Capital Partners LLP lifted its holdings in Unity Bancorp by 47.4% during the 1st quarter. GSA Capital Partners LLP now owns 16,649 shares of the financial services provider's stock worth $460,000 after buying an additional 5,352 shares during the last quarter. SG Americas Securities LLC bought a new position in Unity Bancorp during the 4th quarter worth approximately $117,000. Panagora Asset Management Inc. lifted its holdings in shares of Unity Bancorp by 11.7% in the 4th quarter. Panagora Asset Management Inc. now owns 20,540 shares of the financial services provider's stock worth $608,000 after purchasing an additional 2,150 shares during the last quarter. BNP Paribas Financial Markets lifted its holdings in shares of Unity Bancorp by 80.3% in the 1st quarter. BNP Paribas Financial Markets now owns 3,389 shares of the financial services provider's stock worth $94,000 after purchasing an additional 1,509 shares during the last quarter. Finally, Janney Montgomery Scott LLC lifted its holdings in shares of Unity Bancorp by 6.0% in the 1st quarter. Janney Montgomery Scott LLC now owns 20,007 shares of the financial services provider's stock worth $552,000 after purchasing an additional 1,135 shares during the last quarter. Institutional investors own 42.31% 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.