Unity Bancorp (NASDAQ:UNTY – Get a rating) announced its results on Thursday. The financial services provider reported EPS of $0.88 for the quarter, beating the consensus estimate of $0.86 by $0.02, Loyalty Earnings reports. Unity Bancorp had a return on equity of 18.63% and a net margin of 38.26%.
NASDAQ:UNTY shares opened at $26.66 on Friday. The company’s 50-day simple moving average is $27.63 and its two-hundred-day simple moving average is $28.18. The company has a market capitalization of $279.80 million, a P/E ratio of 7.68 and a beta of 1.07. The company has a debt ratio of 0.23, a quick ratio of 1.04 and a current ratio of 1.04. Unity Bancorp has a 52-week low of $22.12 and a 52-week high of $31.37.
The company also recently declared a quarterly dividend, which was paid on Friday, June 24. Shareholders of record on Friday, June 10 received a dividend of $0.11. The ex-dividend date was Thursday, June 9. This represents an annualized dividend of $0.44 and a yield of 1.65%. This is a positive change from Unity Bancorp’s previous quarterly dividend of $0.10. Unity Bancorp’s dividend payout ratio is currently 12.68%.
Several brokerages have recently commented on UNTY. Piper Sandler began covering Unity Bancorp in a research report on Thursday, April 7. They set an “overweight” rating and a target price of $33.00 on the stock. StockNews.com upgraded Unity Bancorp from a “hold” rating to a “buy” rating in a Tuesday, June 28 research report.
Major investors have recently changed their positions in the company. Fourthstone LLC increased its stake in Unity Bancorp by 45.0% in the first quarter. Fourthstone LLC now owns 481,355 shares of the financial services provider worth $13,468,000 after acquiring an additional 149,358 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Unity Bancorp by 0.9% in the first quarter. Dimensional Fund Advisors LP now owns 373,503 shares of the financial services provider worth $10,451,000 after acquiring 3,442 additional shares in the last quarter. American Century Companies Inc. increased its stake in Unity Bancorp by 29.6% in the first quarter. American Century Companies Inc. now owns 31,234 shares of the financial services provider worth $874,000 after acquiring an additional 7,128 shares last quarter. State Street Corp increased its stake in Unity Bancorp by 12.3% in the first quarter. State Street Corp now owns 21,721 shares of the financial services provider worth $608,000 after acquiring 2,387 additional shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in Unity Bancorp by 45.4% in the first quarter. Goldman Sachs Group Inc. now owns 18,994 shares of the financial services provider worth $531,000 after acquiring 5,931 additional shares in the last quarter. Institutional investors and hedge funds hold 49.77% of the company’s shares.
Unity Bancorp Company Profile (Get a rating)
Unity Bancorp, Inc operates as a holding company for Unity Bank which provides commercial and retail banking products and services to individuals, small and medium enterprises and professional communities. The company offers personal and business checking accounts, term deposits, money market accounts and regular savings accounts, as well as interest-free and interest-bearing demand deposits.
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