James Joseph Donovan of Unity Bancorp, Inc. (NASDAQ:UNTY) Sells Shares

On February 4th, James Joseph Donovan, Senior Vice President of Unity Bancorp, Inc. (NASDAQ:UNTY - Get Free Report), completed a sale of 1,080 shares of company stock. The shares were sold at an average price of $48.88 each, resulting in a total transaction amount of $52,790.40. Following this sale, Donovan holds 4,975 shares of Unity Bancorp, which are currently valued at about $243,178. This transaction reflects a 17.84% reduction in Donovan's stock ownership. Details of this transaction were reported in a legal filing with the Securities and Exchange Commission (SEC), which can be accessed for further information.

Unity Bancorp's Recent Performance

Recent Stock Activity

During trading on Wednesday, Unity Bancorp's stock saw an increase of $0.91, reaching a price of $49.92. The trading volume for the day was recorded at 73,883 shares, surpassing the average volume of 45,817 shares. The company has a debt-to-equity ratio of 0.97, and both the quick and current ratios are at 1.16. Over the past year, Unity Bancorp's stock has seen a low of $25.33 and a high of $50.36. The 50-day moving average stands at $45.22, while the 200-day moving average is at $39.43. The company's market capitalization is approximately $498.50 million, with a price-to-earnings ratio of 12.30 and a beta of 1.03.

Quarterly Earnings Results

On January 15th, Unity Bancorp announced its quarterly earnings results, reporting earnings per share (EPS) of $1.13. This figure exceeded analysts' expectations of $1.08 by a margin of $0.05. The return on equity was 15.08%, and the net margin was reported as 25.24%. Analysts forecast an EPS of 4.83 for the current fiscal year.

Dividend Information

Unity Bancorp recently declared a quarterly dividend, which was paid to shareholders on December 31st. Investors who were on record as of December 13th received a dividend payout of $0.13 per share, translating to an annualized dividend of $0.52 and a yield of 1.04%. The ex-dividend date was also December 13th. Unity Bancorp's dividend payout ratio stands at 12.81%.

Analyst Recommendations

Several analysts have recently weighed in on Unity Bancorp's stock. Keefe, Bruyette & Woods reiterated an "outperform" rating with a price target of $55.00, an increase from their previous estimate of $51.00. StockNews.com downgraded Unity Bancorp from a "buy" to a "hold" rating. Piper Sandler also maintained an "overweight" rating and adjusted the price target to $54.00 from $53.00.

Institutional Investor Activity

Institutional investors have been active in adjusting their stakes in Unity Bancorp. For instance, JPMorgan Chase & Co. increased its holdings by 79.3% in the third quarter, acquiring an additional 39,033 shares, bringing its total to 88,231 shares valued at $3,005,000. Other notable investors include Inspire Investing LLC, which initiated a new position valued around $845,000, and Connor Clark & Lunn Investment Management, which also acquired a new stake worth approximately $623,000. Currently, institutional investors own 42.31% of Unity Bancorp's stock.

Company Overview

Unity Bancorp, Inc. operates as a bank holding company for Unity Bank, providing a variety of commercial and retail banking services to individuals, small and medium-sized businesses, and professional communities. Their service offerings include personal and business checking accounts, time deposits, money market accounts, savings accounts, and retirement accounts.

Unity, Bancorp, Shares