Delphi Management Inc. MA Sells 1,448 Shares of Unity Bancorp, Inc. $UNTY

Delphi Management Inc. MA reduced its stake in shares of Unity Bancorp, Inc. (NASDAQ:UNTY) by 4.5% in the second quarter, HoldingsChannel reports. The institutional investor owned 30,523 shares of the financial services provider’s stock after selling 1,448 shares during the period. Unity Bancorp makes up about 1.4% of Delphi Management Inc. MA’s holdings, making the stock its 24th largest holding. Delphi Management Inc. MA’s holdings in Unity Bancorp were worth $1,437,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of UNTY. Ameriprise Financial Inc. boosted its position in shares of Unity Bancorp by 97.2% during the fourth quarter. Ameriprise Financial Inc. now owns 21,439 shares of the financial services provider’s stock worth $937,000 after acquiring an additional 10,567 shares during the last quarter. GAMMA Investing LLC lifted its stake in Unity Bancorp by 11,262.5% in the 1st quarter. GAMMA Investing LLC now owns 2,727 shares of the financial services provider’s stock worth $111,000 after purchasing an additional 2,703 shares in the last quarter. Hsbc Holdings PLC lifted its stake in Unity Bancorp by 20.8% in the 1st quarter. Hsbc Holdings PLC now owns 5,761 shares of the financial services provider’s stock worth $236,000 after purchasing an additional 993 shares in the last quarter. Public Employees Retirement System of Ohio bought a new position in shares of Unity Bancorp during the 4th quarter valued at about $33,000. Finally, Nuveen LLC purchased a new position in shares of Unity Bancorp during the first quarter valued at about $519,000. Hedge funds and other institutional investors own 42.31% of the company’s stock.

Analyst Upgrades and Downgrades

UNTY has been the topic of several research reports. Wall Street Zen raised Unity Bancorp from a “hold” rating to a “buy” rating in a report on Saturday. Keefe, Bruyette & Woods lifted their price objective on Unity Bancorp from $55.00 to $63.00 and gave the stock an “outperform” rating in a research note on Friday, July 18th. Two investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $56.50.

Unity Bancorp Stock Down 2.3%

Shares of NASDAQ UNTY opened at $51.89 on Friday. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 1.21. Unity Bancorp, Inc. has a 12-month low of $32.23 and a 12-month high of $54.64. The firm’s 50-day moving average price is $50.88 and its 200-day moving average price is $45.94. The stock has a market capitalization of $520.46 million, a price-to-earnings ratio of 10.50 and a beta of 0.79.

Unity Bancorp (NASDAQ:UNTY) last released its quarterly earnings results on Tuesday, July 15th. The financial services provider reported $1.20 EPS for the quarter, topping the consensus estimate of $1.17 by $0.03. Unity Bancorp had a return on equity of 15.34% and a net margin of 28.72%.The company had revenue of $34.37 million during the quarter, compared to analyst estimates of $30.30 million. On average, equities research analysts anticipate that Unity Bancorp, Inc. will post 4.83 EPS for the current fiscal year.

Unity Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 19th. Stockholders of record on Friday, September 5th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Friday, September 5th. This represents a $0.60 annualized dividend and a dividend yield of 1.2%. This is an increase from Unity Bancorp’s previous quarterly dividend of $0.14. Unity Bancorp’s dividend payout ratio is presently 12.15%.

Unity Bancorp Profile

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.