Unity Bancorp, Inc. (NASDAQ:UNTY) Declares $0.15 Quarterly Dividend

Unity Bancorp, Inc. (NASDAQ:UNTY) announced a quarterly dividend on Thursday, November 20th. Stockholders of record on Friday, December 5th will be paid a dividend of 0.15 per share by the financial services provider on Friday, December 19th. This represents a c) dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend is Friday, December 5th.

Unity Bancorp has increased its dividend by an average of 0.1%per year over the last three years and has raised its dividend annually for the last 12 consecutive years. Unity Bancorp has a dividend payout ratio of 10.9% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Unity Bancorp to earn $5.44 per share next year, which means the company should continue to be able to cover its $0.60 annual dividend with an expected future payout ratio of 11.0%.

Unity Bancorp Stock Up 1.5%

NASDAQ UNTY opened at $48.79 on Friday. Unity Bancorp has a one year low of $36.65 and a one year high of $54.64. The company has a debt-to-equity ratio of 1.21, a quick ratio of 1.20 and a current ratio of 1.20. The business has a fifty day moving average price of $48.52 and a 200 day moving average price of $48.20. The company has a market cap of $489.75 million, a P/E ratio of 9.24 and a beta of 0.78.

Unity Bancorp (NASDAQ:UNTY) last issued its earnings results on Tuesday, October 14th. The financial services provider reported $1.33 EPS for the quarter, beating analysts’ consensus estimates of $1.28 by $0.05. Unity Bancorp had a net margin of 29.85% and a return on equity of 15.94%. The business had revenue of $32.35 million during the quarter, compared to analysts’ expectations of $31.35 million. Research analysts anticipate that Unity Bancorp will post 4.83 EPS for the current fiscal year.

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.