Unity Bancorp, Inc. (NASDAQ:UNTY - Get Free Report)'s share price passed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $44.12 and traded as low as $43.61. Unity Bancorp shares last traded at $43.91, with a volume of 70,144 shares.
Analyst Ratings Changes
Several research analysts have issued reports 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 reduced their target price on Unity Bancorp from $54.00 to $50.00 and set an "overweight" rating for the company in a report on Monday, April 14th.
Get Our Latest Research Report on UNTY
Unity Bancorp Stock Performance
The firm's fifty day simple moving average is $43.16 and its 200 day simple moving average is $44.12. The company has a market capitalization of $440.42 million, a price-to-earnings ratio of 10.31 and a beta of 0.71. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.15 and a quick ratio of 1.15.
Unity Bancorp (NASDAQ:UNTY - Get Free Report) last issued its quarterly earnings results on Friday, April 11th. The financial services provider reported $1.13 EPS for the quarter, beating the consensus estimate of $1.12 by $0.01. Unity Bancorp had a net margin of 25.95% and a return on equity of 14.99%. The business had revenue of $29.35 million during the quarter, compared to the consensus estimate of $28.81 million. During the same quarter in the prior year, the firm earned $0.93 EPS. On average, sell-side analysts forecast that Unity Bancorp, Inc. will post 4.83 EPS for the current year.
Unity Bancorp Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Friday, June 6th will be given a $0.14 dividend. The ex-dividend date is Friday, June 6th. This represents a $0.56 annualized dividend and a dividend yield of 1.28%. Unity Bancorp's dividend payout ratio (DPR) is presently 13.15%.
Insider Activity
In other Unity Bancorp news, Director Donald E. Jr. Souders sold 1,333 shares of the firm's stock in a transaction dated Thursday, April 24th. The stock was sold at an average price of $41.23, for a total transaction of $54,959.59. Following the completion of the sale, the director now directly owns 8,477 shares in the company, valued at approximately $349,506.71. This trade represents a 13.59% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 29.68% of the stock is currently owned by corporate insiders.
Hedge Funds Weigh In On Unity Bancorp
A number of large investors have recently made changes to their positions in the business. Strs Ohio acquired a new stake in shares of Unity Bancorp during the first quarter worth approximately $49,000. Jane Street Group LLC acquired a new stake in shares of Unity Bancorp during the 1st quarter valued at $283,000. Empowered Funds LLC boosted its stake in shares of Unity Bancorp by 7.2% during the 1st quarter. Empowered Funds LLC now owns 37,456 shares of the financial services provider's stock valued at $1,524,000 after buying an additional 2,524 shares during the period. Dynamic Technology Lab Private Ltd purchased a new position in shares of Unity Bancorp during the 1st quarter valued at $411,000. Finally, Jacobs Levy Equity Management Inc. acquired a new position in shares of Unity Bancorp in the first quarter worth $785,000. Institutional investors and hedge funds own 42.31% of the company's stock.
Unity Bancorp Company Profile
(
Get Free Report)
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.
Further Reading
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