Unity Bancorp’s (UNTY) “Buy” Rating Reiterated at DA Davidson

Unity Bancorp (NASDAQ:UNTY)‘s stock had its “buy” rating restated by analysts at DA Davidson in a research note issued on Tuesday, Benzinga reports. They presently have a $68.00 price target on the financial services provider’s stock. DA Davidson’s target price points to a potential upside of 22.81% from the company’s current price.

Several other equities analysts have also recently weighed in on the company. Piper Sandler lifted their price objective on Unity Bancorp from $65.00 to $68.00 and gave the company an “overweight” rating in a report on Friday, June 26th. Freedom Capital raised Unity Bancorp from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 16th. Finally, Weiss Ratings reissued a “buy (b+)” rating on shares of Unity Bancorp in a research note on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating and five have given a Buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $65.50.

Unity Bancorp Stock Performance

UNTY stock opened at $55.37 on Tuesday. The business’s 50-day moving average price is $58.25 and its two-hundred day moving average price is $56.28. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.88. The firm has a market cap of $556.08 million, a PE ratio of 9.63 and a beta of 0.65. Unity Bancorp has a 1-year low of $44.34 and a 1-year high of $62.50.

Unity Bancorp (NASDAQ:UNTY) last posted its earnings results on Tuesday, October 13th. The financial services provider reported $1.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.49 by $0.02. Unity Bancorp had a return on equity of 16.10% and a net margin of 30.26%. The firm had revenue of $36.65 million during the quarter, compared to analysts’ expectations of $35.63 million. As a group, research analysts forecast that Unity Bancorp will post 5.85 earnings per share for the current year.

Insider Activity

In other Unity Bancorp news, President George Boyan sold 6,504 shares of Unity Bancorp stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $59.16, for a total value of $384,776.64. Following the sale, the president owned 25,015 shares of the company’s stock, valued at $1,479,887.40. This trade represents a 20.64% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 28.87% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Hsbc Holdings PLC raised its position in Unity Bancorp by 22.0% in the 2nd quarter. Hsbc Holdings PLC now owns 8,676 shares of the financial services provider’s stock valued at $509,000 after buying an additional 1,563 shares during the last quarter. Empowered Funds LLC bought a new stake in Unity Bancorp in the 2nd quarter valued at approximately $1,517,000. Public Employees Retirement System of Ohio acquired a new position in Unity Bancorp during the 2nd quarter worth approximately $199,000. Bank of America Corp DE acquired a new position in Unity Bancorp during the 2nd quarter worth approximately $1,240,000. Finally, Man Group plc acquired a new position in Unity Bancorp during the 2nd quarter worth approximately $712,000. 42.31% of the stock is currently owned by institutional investors.

Unity Bancorp News Summary

Here are the key news stories impacting Unity Bancorp this week:

• Positive Sentiment: Unity Bancorp reported third-quarter net income of $17.4 million, or $1.70 per diluted share, up from $14.5 million, or $1.42 per share, in the second quarter. Nine-month net income rose to $46.1 million from $42.5 million a year earlier. Unity Bancorp Reports Quarterly Earnings of $17.4 Million
• Positive Sentiment: Core banking trends were favorable: loan and deposit growth remained robust, net interest income increased, net interest margin expanded and credit quality improved. These trends support continued revenue and profitability momentum. Unity Bancorp Q3 Profit, Net Interest Income Rise
• Positive Sentiment: The company benefited from a $2.5 million reduction in tax expense after purchasing transferable federal investment tax credits. Analysts also reported quarterly EPS of $1.51 versus a $1.49 consensus estimate and revenue of $36.65 million versus expectations of $35.63 million, though these figures differ from the company’s earnings release. Unity Bancorp Releases Quarterly Earnings Results
• Neutral Sentiment: Management expressed confidence in Unity Bancorp’s long-term growth prospects and balance sheet, while preparing for CEO James Hughes’ planned leadership transition next year to President George Boyan.
• Negative Sentiment: The $2.5 million tax-credit benefit is described as a one-time item, creating a less favorable comparison for future quarters if it is not repeated.
• Negative Sentiment: Management cited shifting interest-rate expectations and intense competition for deposits as potential pressures on future net interest margins and funding costs. Recent reported insider activity also showed sales, including transactions by President George Boyan. Unity Bancorp Reports Third Quarter 2026 Net Income

About Unity Bancorp

Unity Bancorp, Inc is the bank holding company for Unity Bank, a community-focused financial institution serving individuals, families and businesses in New Jersey and eastern Pennsylvania. Headquartered in Clinton, New Jersey, Unity Bank operates through a network of branches and provides relationship-based banking services to customers in its local markets.

The bank offers a range of deposit products, including checking, savings, money market accounts and certificates of deposit. Its lending activities include commercial and industrial loans, commercial real estate financing, residential mortgages, home equity loans and consumer loans.