Unity Bancorp SVP James Joseph Donovan Sells 1,080 Shares

On February 4th, James Joseph Donovan, the Senior Vice President of Unity Bancorp, Inc. (NASDAQ:UNTY - Get Free Report), made a notable transaction by selling 1,080 shares of the company's stock. The shares were sold at an average price of $48.88, resulting in a total transaction value of $52,790.40. Following this sale, Donovan now has a direct ownership of 4,975 shares in Unity Bancorp, which is currently valued at around $243,178. This transaction marks a 17.84% decrease in his total shareholding.

Unity Bancorp Stock Performance

During midday trading on the following day, shares of Unity Bancorp saw an increase of $0.91 to reach a price of $49.92. The trading volume was 73,883 shares, which is higher than the average of 45,817 shares. Unity Bancorp's financial indicators include a debt-to-equity ratio of 0.97, a quick ratio of 1.16, and a current ratio of 1.16. The company has recorded a 12-month stock price range, with a low of $25.33 and a high of $50.36. Its moving averages are positioned at 50 days for $45.22, and 200 days for $39.43. Unity Bancorp's market capitalization stands at $498.50 million, with a price-to-earnings ratio of 12.30 and a beta of 1.03.

Recent Earnings and Dividend Information

On January 15th, Unity Bancorp released its quarterly earnings report, showing earnings per share (EPS) of $1.13, which exceeded analysts' expectations of $1.08 by $0.05. The company's return on equity was reported at 15.08%, with a net margin of 25.24%. Analysts forecast that Unity Bancorp will post an EPS of 4.83 for the ongoing fiscal year.

The company recently announced a quarterly dividend, which was distributed on December 31st. Shareholders of record as of December 13th received a dividend of $0.13 per share. This equates to an annualized dividend of $0.52, providing a yield of 1.04%. As of now, Unity Bancorp's dividend payout ratio (DPR) is at 12.81%.

Analysts' Ratings and Predictions

Equity research analysts have been providing updates and ratings on Unity Bancorp shares. Keefe, Bruyette & Woods reaffirmed an "outperform" rating, adjusting their price target for the stock to $55.00, up from $51.00. Additionally, StockNews.com downgraded Unity Bancorp from a "buy" rating to a "hold" rating. Meanwhile, Piper Sandler maintained an "overweight" rating, increasing their target price to $54.00 from $53.00.

Institutional Investment Trends

Several institutional investors have been adjusting their positions in Unity Bancorp. For instance, during the third quarter, JPMorgan Chase & Co. increased its stake in Unity Bancorp by 79.3%, owning 88,231 shares valued at approximately $3,005,000, following the purchase of an additional 39,033 shares. Other notable investments included Inspire Investing LLC, which initiated a new position in the fourth quarter valued at around $845,000, and Connor Clark & Lunn Investment Management Ltd. acquiring a stake valued at about $623,000.

The Bank of New York Mellon Corp also increased its holdings in Unity Bancorp by 34.0% during the fourth quarter, now possessing 40,102 shares worth approximately $1,749,000 after acquiring an additional 10,167 shares. Currently, hedge funds and other institutional investors own about 42.31% of Unity Bancorp's stock.

About Unity Bancorp, Inc.

Unity Bancorp, Inc. operates as a parent company for Unity Bank, offering various commercial and retail banking services to individuals, small and medium-sized enterprises, and professional communities. Their offerings include personal and business checking accounts, time deposits, money market accounts, savings accounts, and retirement accounts, alongside both interest-bearing and noninterest-bearing demand deposits.

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