Unity Bancorp, Inc. (UNTY) Receives Consensus Rating of “Buy” from Analysts

Shares of Unity Bancorp, Inc. (NASDAQ:UNTY) have earned a consensus broker rating score of 2.00 (Buy) from the one brokers that provide coverage for the company, Zacks Investment Research reports. One equities research analyst has rated the stock with a buy recommendation.

Zacks has also assigned Unity Bancorp an industry rank of 209 out of 255 based on the ratings given to its competitors.

Separately, ValuEngine raised shares of Unity Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday.

Shares of Unity Bancorp stock traded down $0.04 during trading on Tuesday, reaching $22.21. 14,313 shares of the stock traded hands, compared to its average volume of 10,973. The firm has a market cap of $240.27 million, a price-to-earnings ratio of 11.13 and a beta of 0.50. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 1.59. Unity Bancorp has a 52-week low of $16.74 and a 52-week high of $25.50.

Unity Bancorp (NASDAQ:UNTY) last issued its quarterly earnings data on Wednesday, January 23rd. The financial services provider reported $0.53 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.53. The firm had revenue of $16.12 million during the quarter. Unity Bancorp had a return on equity of 16.77% and a net margin of 28.73%.

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were given a $0.07 dividend. The ex-dividend date was Thursday, March 14th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.26%.

In other Unity Bancorp news, Director Wayne Courtright sold 1,675 shares of the company’s stock in a transaction dated Monday, February 25th. The shares were sold at an average price of $21.14, for a total value of $35,409.50. Following the completion of the transaction, the director now owns 107,789 shares in the company, valued at $2,278,659.46. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 29.66% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Geode Capital Management LLC raised its position in shares of Unity Bancorp by 3.8% during the 4th quarter. Geode Capital Management LLC now owns 94,546 shares of the financial services provider’s stock worth $1,962,000 after purchasing an additional 3,499 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Unity Bancorp by 2.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 381,504 shares of the financial services provider’s stock worth $7,919,000 after purchasing an additional 7,746 shares during the last quarter. Bank of America Corp DE raised its position in shares of Unity Bancorp by 94.1% during the 4th quarter. Bank of America Corp DE now owns 5,954 shares of the financial services provider’s stock worth $124,000 after purchasing an additional 2,886 shares during the last quarter. Royce & Associates LP raised its holdings in Unity Bancorp by 12.0% in the 4th quarter. Royce & Associates LP now owns 360,255 shares of the financial services provider’s stock valued at $7,479,000 after acquiring an additional 38,662 shares during the last quarter. Finally, BlackRock Inc. raised its holdings in Unity Bancorp by 3.4% in the 4th quarter. BlackRock Inc. now owns 392,197 shares of the financial services provider’s stock valued at $8,141,000 after acquiring an additional 12,786 shares during the last quarter. Hedge funds and other institutional investors own 48.08% of the company’s stock.

About Unity Bancorp

Unity Bancorp, Inc operates as the holding company for Unity Bank that provides a range of banking products and services to individuals, small and medium sized businesses, and professional communities. The company offers personal and business checking accounts, time deposits, money market accounts, and regular savings accounts.

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