Unity Bancorp (NASDAQ:UNTY) Shares Cross Below 200 Day Moving Average - Should You Sell?

Shares of Unity Bancorp, Inc. (NASDAQ:UNTY - Get Free Report) 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 trading hands.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. Wall Street Zen downgraded Unity Bancorp from a "buy" rating to a "hold" rating in a research note on Saturday, May 24th. Piper Sandler dropped their price objective on Unity Bancorp from $54.00 to $50.00 and set an "overweight" rating on the stock in a research report on Monday, April 14th.

Unity Bancorp Trading Up 4.3%

The stock has a fifty day simple moving average of $43.24 and a 200 day simple moving average of $44.10. The firm has a market capitalization of $457.97 million, a P/E ratio of 10.72 and a beta of 0.71. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 0.83.

Unity Bancorp (NASDAQ:UNTY - Get Free Report) last released its quarterly earnings data 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. As a group, research analysts forecast that Unity Bancorp, Inc. will post 4.83 EPS for the current year.

Unity Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Friday, June 6th were paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 1.23%. The ex-dividend date of this dividend was Friday, June 6th. Unity Bancorp's payout ratio is 13.15%.

Insider Buying and Selling at Unity Bancorp

In related news, Director Donald E. Jr. Souders sold 1,333 shares of the business's stock in a transaction 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 completion of the transaction, the director now owns 8,477 shares in the company, valued at $349,506.71. The trade was a 13.59% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 29.68% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. CWM LLC increased its stake in shares of Unity Bancorp by 122.5% during the first quarter. CWM LLC now owns 612 shares of the financial services provider's stock valued at $25,000 after buying an additional 337 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its holdings in Unity Bancorp by 1.2% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 33,020 shares of the financial services provider's stock worth $1,344,000 after acquiring an additional 384 shares in the last quarter. Cetera Investment Advisers increased its position in Unity Bancorp by 5.0% during the 4th quarter. Cetera Investment Advisers now owns 8,511 shares of the financial services provider's stock valued at $371,000 after purchasing an additional 403 shares during the period. Gator Capital Management LLC increased its position in Unity Bancorp by 1.8% during the 1st quarter. Gator Capital Management LLC now owns 23,726 shares of the financial services provider's stock valued at $966,000 after purchasing an additional 421 shares during the period. Finally, Public Employees Retirement System of Ohio bought a new stake in shares of Unity Bancorp in the 4th quarter valued at about $33,000. 42.31% of the stock is currently owned by institutional investors.

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.