Unity Bancorp, Inc. SVP James Joseph Donovan Sells 1,080 Shares

James Joseph Donovan, the Senior Vice President of Unity Bancorp, Inc. (NASDAQ:UNTY - Get Free Report), recently sold 1,080 shares of the company’s stock. This transaction took place on Tuesday, February 4th, where the shares were sold at an average price of $48.88. The total value of this transaction amounted to $52,790.40. After this sale, Donovan now holds 4,975 shares of Unity Bancorp, which are valued at approximately $243,178. This reduction in shares represents a 17.84% decrease in Donovan’s ownership stake in the company. Details of this transaction were made public through a legal filing with the SEC, which can be accessed through their official website.

Unity Bancorp Stock Performance

On Wednesday, the stock of NASDAQ UNTY saw an increase of $0.91, bringing its trading price to $49.92 during midday trading. The trading volume reached 73,883 shares, which is higher than the average volume of 45,817 shares. The company’s financial metrics indicate a debt-to-equity ratio of 0.97 and both a quick ratio and current ratio of 1.16. Over the past year, Unity Bancorp has seen a low of $25.33 and a high of $50.36. The stock’s 50-day moving average stands at $45.22, while the 200-day moving average is at $39.43. The current market capitalization for Unity Bancorp is approximately $498.50 million, and it has a price-to-earnings ratio of 12.30 with a beta of 1.03.

Quarterly Earnings Report

Unity Bancorp announced its latest quarterly earnings on January 15th, reporting earnings per share (EPS) of $1.13. This figure exceeded analysts’ expectations, which were set at $1.08, by $0.05. The company recorded a return on equity of 15.08% and a net margin of 25.24%. Analysts are projecting that Unity Bancorp will achieve an EPS of 4.83 for the upcoming fiscal year.

Dividend Information

Recently, Unity Bancorp declared a quarterly dividend, which was paid to shareholders on December 31st. Investors who were on record as of December 13th received a dividend payment of $0.13 per share, translating to an annualized dividend of $0.52 and a yield of 1.04%. The ex-dividend date for this payment was also December 13th. Currently, Unity Bancorp’s dividend payout ratio (DPR) is at 12.81%.

Analysts' Perspectives

Several analysts have weighed in on the prospects for Unity Bancorp. Keefe, Bruyette & Woods reaffirmed an "outperform" rating, raising their price target for the stock to $55.00, up from a previous target of $51.00. StockNews.com downgraded its rating on Unity Bancorp from "buy" to "hold" in a report released on October 22nd. Additionally, Piper Sandler maintained an "overweight" rating while adjusting their price target to $54.00 from $53.00.

Investor Activities

Recently, significant changes in ownership have been reported among institutional investors in Unity Bancorp. For instance, JPMorgan Chase & Co. increased its holdings by 79.3% during the third quarter, owning 88,231 shares valued at approximately $3,005,000 after purchasing an additional 39,033 shares. Inspire Investing LLC also entered a new position in Unity Bancorp during the fourth quarter, valued at roughly $845,000. Similarly, Connor Clark & Lunn Investment Management Ltd. and Bank of New York Mellon Corp. have expanded their stakes in the company.

About Unity Bancorp, Inc.

Unity Bancorp, Inc. serves as the bank holding company for Unity Bank, providing a range of commercial and retail banking services. Their offerings include personal and business checking accounts, savings accounts, time deposits, and various investment accounts tailored for both individuals and businesses.

Unity, Shares, Dividends