Unity Bancorp, Inc. (NASDAQ:UNTY) Shares Purchased by Wellington Management Group LLP

Wellington Management Group LLP raised its stake in Unity Bancorp, Inc. (NASDAQ:UNTY - Free Report) by 6.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). 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 3.11% of Unity Bancorp worth $13,561,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in UNTY. BNP Paribas Financial Markets increased its holdings in shares of Unity Bancorp by 84.6% in the 3rd quarter. BNP Paribas Financial Markets now owns 2,464 shares of the financial services provider's stock valued at $84,000 after acquiring an additional 1,129 shares during the period. State Street Corp increased its stake in Unity Bancorp by 0.6% in the third quarter. State Street Corp now owns 94,750 shares of the financial services provider's stock valued at $3,227,000 after purchasing an additional 607 shares during the period. Barclays PLC raised its holdings in shares of Unity Bancorp by 93.1% in the third quarter. Barclays PLC now owns 14,197 shares of the financial services provider's stock valued at $484,000 after buying an additional 6,846 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Unity Bancorp by 0.3% during the third quarter. Geode Capital Management LLC now owns 152,590 shares of the financial services provider's stock worth $5,198,000 after buying an additional 492 shares during the period. Finally, JPMorgan Chase & Co. grew its holdings in shares of Unity Bancorp by 79.3% during the third quarter. JPMorgan Chase & Co. now owns 88,231 shares of the financial services provider's stock worth $3,005,000 after buying an additional 39,033 shares during the last quarter. Hedge funds and other institutional investors own 42.31% of the company's stock.

Insider Buying and Selling

In other Unity Bancorp news, Director Mary E. Gross sold 3,300 shares of the company's stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $48.04, for a total value of $158,532.00. Following the sale, the director now owns 18,479 shares of the company's stock, valued at $887,731.16. This represents a 15.15 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Vincent Geraci sold 1,811 shares of Unity Bancorp stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $50.82, for a total value of $92,035.02. Following the transaction, the director now owns 8,312 shares of the company's stock, valued at $422,415.84. This represents a 17.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 7,791 shares of company stock worth $380,669 in the last quarter. Company insiders own 29.68% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on UNTY shares. Keefe, Bruyette & Woods reaffirmed an "outperform" rating and set a $55.00 price objective (up from $51.00) on shares of Unity Bancorp in a research report on Thursday, January 16th. Piper Sandler lowered their price objective 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.

Unity Bancorp Stock Performance

Shares of UNTY stock traded up $1.54 during trading hours on Tuesday, reaching $41.38. 5,047 shares of the company's stock were exchanged, compared to its average volume of 27,320. 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's 50 day moving average is $43.81 and its two-hundred day moving average is $43.23. The company has a market cap of $416.24 million, a P/E ratio of 10.11 and a beta of 0.80. Unity Bancorp, Inc. has a 1 year low of $25.60 and a 1 year high of $51.22.

Unity Bancorp (NASDAQ:UNTY - Get Free Report) last released its earnings results on Friday, April 11th. The financial services provider reported $1.13 EPS for the quarter, beating analysts' consensus estimates of $1.12 by $0.01. Unity Bancorp had a return on equity of 15.08% and a net margin of 25.24%. The company had revenue of $29.35 million during the quarter, compared to the consensus estimate of $28.81 million. During the same quarter last year, the company earned $0.93 earnings per share. Equities research analysts anticipate that Unity Bancorp, Inc. will post 4.83 EPS for the current fiscal year.

Unity Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.35%. This is an increase from Unity Bancorp's previous quarterly dividend of $0.13. The ex-dividend date was Friday, March 14th. Unity Bancorp's dividend payout ratio (DPR) is presently 13.79%.

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.