Unity Bancorp, Inc. (NASDAQ:UNTY) Director Vincent Geraci Sells 2,600 Shares

Unity Bancorp, Inc. (NASDAQ:UNTY) Director Vincent Geraci sold 2,600 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $27.19, for a total transaction of $70,694.00. Following the completion of the sale, the director now owns 1,043 shares of the company’s stock, valued at approximately $28,359.17. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Unity Bancorp Price Performance

Shares of NASDAQ UNTY opened at $27.70 on Monday. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.21 and a current ratio of 1.21. Unity Bancorp, Inc. has a one year low of $20.01 and a one year high of $30.70. The firm has a market capitalization of $280.88 million, a P/E ratio of 7.27 and a beta of 1.04. The company’s fifty day moving average is $27.23 and its two-hundred day moving average is $27.17.

Unity Bancorp (NASDAQ:UNTY) last released its quarterly earnings data on Friday, April 12th. The financial services provider reported $0.93 EPS for the quarter, topping analysts’ consensus estimates of $0.91 by $0.02. Unity Bancorp had a net margin of 24.92% and a return on equity of 15.44%. The firm had revenue of $25.56 million for the quarter, compared to the consensus estimate of $25.15 million. Analysts forecast that Unity Bancorp, Inc. will post 3.81 EPS for the current fiscal year.

Unity Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were issued a $0.13 dividend. The ex-dividend date was Thursday, March 14th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.88%. This is a boost from Unity Bancorp’s previous quarterly dividend of $0.12. Unity Bancorp’s dividend payout ratio is currently 13.65%.

Analysts Set New Price Targets

Separately, StockNews.com cut Unity Bancorp from a “buy” rating to a “hold” rating in a report on Friday, February 2nd.

Hedge Funds Weigh In On Unity Bancorp

Several hedge funds and other institutional investors have recently bought and sold shares of UNTY. Hillsdale Investment Management Inc. grew its holdings in Unity Bancorp by 18.5% in the fourth quarter. Hillsdale Investment Management Inc. now owns 3,200 shares of the financial services provider’s stock valued at $95,000 after purchasing an additional 500 shares during the last quarter. BNP Paribas Financial Markets boosted its position in shares of Unity Bancorp by 80.3% in the 1st quarter. BNP Paribas Financial Markets now owns 3,389 shares of the financial services provider’s stock worth $94,000 after buying an additional 1,509 shares in the last quarter. SG Americas Securities LLC acquired a new stake in Unity Bancorp in the 4th quarter valued at about $117,000. GSA Capital Partners LLP grew its stake in Unity Bancorp by 47.4% in the 1st quarter. GSA Capital Partners LLP now owns 16,649 shares of the financial services provider’s stock valued at $460,000 after acquiring an additional 5,352 shares during the last quarter. Finally, Janney Montgomery Scott LLC increased its holdings in Unity Bancorp by 6.0% during the 1st quarter. Janney Montgomery Scott LLC now owns 20,007 shares of the financial services provider’s stock valued at $552,000 after acquiring an additional 1,135 shares in the last quarter. 42.31% of the stock is owned by institutional investors and hedge funds.

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.