Unity Bancorp (NASDAQ:UNTY) Posts Quarterly Earnings Results

Unity Bancorp (NASDAQ:UNTY) issued its earnings results on Thursday. The financial services provider reported $0.53 EPS for the quarter, meeting the consensus estimate of $0.53, Fidelity Earnings reports. The company had revenue of $16.62 million during the quarter, compared to analysts’ expectations of $16.50 million. Unity Bancorp had a net margin of 28.43% and a return on equity of 16.51%.

Shares of Unity Bancorp stock remained flat at $$21.00 on Friday. 6,469 shares of the company’s stock traded hands, compared to its average volume of 9,725. The company’s 50 day simple moving average is $20.98. The stock has a market cap of $229.76 million, a P/E ratio of 10.45 and a beta of 0.66. Unity Bancorp has a 52 week low of $16.74 and a 52 week high of $25.50. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.17 and a current ratio of 1.17.

The firm also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were given a dividend of $0.08 per share. This is a boost from Unity Bancorp’s previous quarterly dividend of $0.07. The ex-dividend date was Thursday, June 13th. This represents a $0.32 annualized dividend and a dividend yield of 1.52%. Unity Bancorp’s payout ratio is presently 15.92%.

UNTY has been the subject of several recent research reports. ValuEngine upgraded shares of Xylem from a “hold” rating to a “buy” rating in a research report on Friday, June 21st. Boenning Scattergood initiated coverage on shares of Unity Bancorp in a research report on Tuesday, June 11th. They set a “buy” rating and a $24.00 target price for the company.

In other Unity Bancorp news, COO John J. Kauchak sold 5,000 shares of the company’s stock in a transaction on Wednesday, April 24th. The shares were sold at an average price of $21.25, for a total transaction of $106,250.00. Following the completion of the sale, the chief operating officer now owns 55,090 shares in the company, valued at approximately $1,170,662.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO John J. Kauchak sold 2,500 shares of the business’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $20.68, for a total transaction of $51,700.00. Following the completion of the transaction, the chief operating officer now directly owns 55,016 shares of the company’s stock, valued at approximately $1,137,730.88. The disclosure for this sale can be found here. Insiders have sold a total of 18,500 shares of company stock valued at $384,270 in the last quarter. Corporate insiders own 29.66% 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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Earnings History for Unity Bancorp (NASDAQ:UNTY)

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