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), sold 1,080 shares of the company’s stock on Tuesday, February 4th. The shares were sold at an average price of $48.88 per share, resulting in a total transaction value of $52,790.40. After this sale, Donovan now owns 4,975 shares in Unity Bancorp, which are valued at approximately $243,178. This transaction represents a 17.84% reduction in his overall holdings in the company.

The details of this sale were officially disclosed in a filing with the U.S. Securities and Exchange Commission (SEC), which can be found through a relevant legal disclosure link.

Unity Bancorp Stock Performance

During midday trading on Wednesday, Unity Bancorp's shares reached $49.92, increasing by $0.91. The trading volume for the day was 73,883 shares, surpassing the average daily volume of 45,817 shares. The company has a healthy debt-to-equity ratio of 0.97, with a quick ratio and current ratio both standing at 1.16. Over the past year, the stock has seen a low of $25.33 and a high of $50.36. Its 50-day moving average is $45.22, while the 200-day moving average is $39.43. Unity Bancorp's market capitalization is approximately $498.50 million, and it has a price-to-earnings ratio of 12.30, with a beta value of 1.03.

Quarterly Earnings Report

Unity Bancorp recently announced its quarterly earnings results on January 15th. The financial services company reported earnings per share (EPS) of $1.13, exceeding analysts' expectations of $1.08 by $0.05. The company achieved a return on equity of 15.08% and maintained a net margin of 25.24%. Analysts expect that Unity Bancorp, Inc. will report an EPS of 4.83 for the current fiscal year.

Dividend Information

Unity Bancorp has declared a quarterly dividend, which was paid on December 31st. Shareholders recorded on December 13th received a dividend of $0.13 per share, corresponding to an annualized dividend of $0.52, providing a yield of 1.04%. The ex-dividend date was also December 13th. The company's dividend payout ratio is currently at 12.81%.

Analyst Ratings and Growth Forecasts

Recent comments from equities research analysts indicate optimism for Unity Bancorp's stock. Keefe, Bruyette & Woods has reiterated an "outperform" rating and raised its price target for the shares to $55.00. This is an increase from their previous target of $51.00, as per a research note issued on January 16th. Meanwhile, StockNews.com downgraded Unity Bancorp from a "buy" to a "hold" rating. Additionally, Piper Sandler has maintained an "overweight" rating with a revised price target of $54.00, up from $53.00, also noted in their January 16th report.

Institutional Investment Activity

Institutional investors have been actively adjusting their positions in Unity Bancorp. JPMorgan Chase & Co. increased its stake in Unity Bancorp by 79.3% during the third quarter, owning 88,231 shares valued at $3,005,000 after acquiring an additional 39,033 shares. Inspire Investing LLC also made a new purchase of Unity Bancorp shares, valuing approximately $845,000. Other notable increases include Bank of New York Mellon Corp's 34% stake growth in the fourth quarter, now holding 40,102 shares worth $1,749,000. These figures indicate strong interest from large investment firms, with institutional ownership of the stock standing at 42.31%.

About Unity Bancorp

Unity Bancorp, Inc. operates as a holding company for Unity Bank, which provides a broad range of commercial and retail banking services to individuals, small and medium enterprises, and professional communities. The bank offers various services, including personal and business checking accounts, savings accounts, time deposits, and other financial products.

Unity, Stock, Earnings