Unity Bancorp (UNTY) Issues Quarterly Earnings Results

Unity Bancorp (NASDAQ:UNTY) issued its quarterly earnings data on Thursday, April 18th. The financial services provider reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.49 by $0.03, MarketWatch Earnings reports. The firm had revenue of $16.24 million during the quarter. Unity Bancorp had a return on equity of 16.51% and a net margin of 28.43%.

Unity Bancorp stock traded down $0.23 during midday trading on Friday, reaching $21.03. The company’s stock had a trading volume of 12,531 shares, compared to its average volume of 8,516. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.18 and a current ratio of 1.17. The stock has a market cap of $230.41 million, a PE ratio of 10.42 and a beta of 0.56. Unity Bancorp has a 52-week low of $16.74 and a 52-week high of $25.50.

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be paid a $0.08 dividend. The ex-dividend date of this dividend is Thursday, June 13th. This is a boost from Unity Bancorp’s previous quarterly dividend of $0.07. This represents a $0.32 dividend on an annualized basis and a yield of 1.52%.

In related news, COO John J. Kauchak sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, April 24th. The stock was sold at an average price of $21.25, for a total transaction of $106,250.00. Following the sale, the chief operating officer now directly owns 55,090 shares of the company’s stock, valued at $1,170,662.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, COO John J. Kauchak sold 2,500 shares of the firm’s stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $20.68, for a total value of $51,700.00. Following the sale, the chief operating officer now directly owns 55,016 shares in the company, valued at $1,137,730.88. The disclosure for this sale can be found here. Insiders sold 12,317 shares of company stock worth $260,379 over the last three months. Corporate insiders own 29.66% of the company’s stock.

An institutional investor recently raised its position in Unity Bancorp stock. Geode Capital Management LLC raised its holdings in Unity Bancorp, Inc. (NASDAQ:UNTY) by 3.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 94,546 shares of the financial services provider’s stock after purchasing an additional 3,499 shares during the period. Geode Capital Management LLC owned about 0.88% of Unity Bancorp worth $1,962,000 at the end of the most recent quarter. 48.04% of the stock is owned by institutional investors.

Separately, ValuEngine cut Unity Bancorp from a “hold” rating to a “sell” rating in a research note on Thursday, March 21st.

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Unity Bancorp Company Profile

Unity Bancorp, Inc operates as the holding company for Unity Bank that provides a range of banking products and services to individuals, small and medium sized businesses, and professional communities. The company offers personal and business checking accounts, time deposits, money market accounts, and regular savings accounts.

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Earnings History for Unity Bancorp (NASDAQ:UNTY)

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