Unity Bancorp, Inc. (UNTY) To Go Ex-Dividend on September 3rd

Unity Bancorp, Inc. (NASDAQ:UNTY) announced a quarterly dividend on Thursday, August 20th. Shareholders of record on Thursday, September 3rd will be given a dividend of 0.17 per share by the financial services provider on Thursday, September 17th. This represents a c) dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend is Thursday, September 3rd. This is a 6.3% increase from Unity Bancorp’s previous quarterly dividend of $0.16.

Unity Bancorp has raised its dividend payment by an average of 0.1%annually over the last three years and has increased its dividend every year for the last 12 years. Unity Bancorp has a payout ratio of 12.4% meaning its dividend is sufficiently covered by earnings. Research analysts expect Unity Bancorp to earn $6.35 per share next year, which means the company should continue to be able to cover its $0.68 annual dividend with an expected future payout ratio of 10.7%.

Unity Bancorp Stock Down 1.3%

Shares of Unity Bancorp stock opened at $58.03 on Tuesday. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.17 and a current ratio of 1.17. The stock has a market capitalization of $582.62 million, a PE ratio of 10.09 and a beta of 0.62. Unity Bancorp has a 52-week low of $44.34 and a 52-week high of $62.50. The company has a 50-day simple moving average of $58.55 and a two-hundred day simple moving average of $55.18.

Unity Bancorp (NASDAQ:UNTY) last posted its quarterly earnings results on Tuesday, July 14th. The financial services provider reported $1.42 EPS for the quarter, missing analysts’ consensus estimates of $1.44 by ($0.02). The firm had revenue of $33.75 million for the quarter, compared to analysts’ expectations of $34.62 million. Unity Bancorp had a net margin of 30.26% and a return on equity of 16.10%. On average, analysts anticipate that Unity Bancorp will post 5.86 EPS for the current fiscal year.

Institutional Investors Weigh In On Unity Bancorp

Large investors have recently added to or reduced their stakes in the stock. CWM LLC lifted its holdings in shares of Unity Bancorp by 38.0% during the 4th quarter. CWM LLC now owns 857 shares of the financial services provider’s stock valued at $44,000 after buying an additional 236 shares during the period. Hsbc Holdings PLC lifted its holdings in Unity Bancorp by 5.1% in the second quarter. Hsbc Holdings PLC now owns 6,056 shares of the financial services provider’s stock valued at $287,000 after acquiring an additional 295 shares during the period. Gator Capital Management LLC lifted its holdings in Unity Bancorp by 0.9% in the fourth quarter. Gator Capital Management LLC now owns 33,851 shares of the financial services provider’s stock valued at $1,751,000 after acquiring an additional 315 shares during the period. BNP Paribas Financial Markets boosted its position in Unity Bancorp by 14.8% in the second quarter. BNP Paribas Financial Markets now owns 2,883 shares of the financial services provider’s stock worth $136,000 after purchasing an additional 372 shares during the last quarter. Finally, Rhumbline Advisers boosted its position in Unity Bancorp by 3.7% in the second quarter. Rhumbline Advisers now owns 10,805 shares of the financial services provider’s stock worth $509,000 after purchasing an additional 385 shares during the last quarter. Institutional investors own 42.31% of the company’s stock.

About Unity Bancorp

Unity Bancorp, Inc is a bank holding company headquartered in Morrisville, Pennsylvania, trading on the NASDAQ under the ticker UNTY. Through its primary subsidiary, Unity Bank, the company delivers a comprehensive suite of commercial and retail banking services to individuals, businesses and municipal clients in its regional markets.

Founded in 1906, Unity Bank maintains a network of conveniently located branches across Bucks County and adjacent areas of southeastern Pennsylvania. The company’s deposit portfolio includes checking and savings accounts, money market accounts and certificates of deposit, while its loan offerings encompass commercial real estate, construction and land development, agricultural and consumer lending solutions.

Beyond traditional deposit and lending activities, Unity Bancorp provides cash management and merchant services, as well as internet and mobile banking platforms designed to streamline day-to-day financial operations.