Unity Bancorp (NASDAQ:UNTY – Get Free Report) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Friday.
Unity Bancorp Stock Down 1.2 %
NASDAQ UNTY traded down $0.32 on Friday, reaching $27.26. The company had a trading volume of 8,841 shares, compared to its average volume of 18,319. The firm has a market capitalization of $274.24 million, a PE ratio of 7.10 and a beta of 1.09. Unity Bancorp has a 1 year low of $20.01 and a 1 year high of $30.70. The firm has a 50-day moving average of $28.32 and a 200-day moving average of $25.98. The company has a debt-to-equity ratio of 1.58, a current ratio of 1.22 and a quick ratio of 1.22.
Insider Activity
In other news, Director Vincent Geraci sold 2,500 shares of the stock in a transaction that occurred on Tuesday, January 23rd. The stock was sold at an average price of $30.13, for a total transaction of $75,325.00. Following the completion of the transaction, the director now directly owns 3,643 shares in the company, valued at approximately $109,763.59. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, Director Vincent Geraci sold 2,500 shares of the company’s stock in a transaction that occurred on Tuesday, January 23rd. The stock was sold at an average price of $30.13, for a total transaction of $75,325.00. Following the sale, the director now directly owns 3,643 shares of the company’s stock, valued at approximately $109,763.59. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Mary E. Gross sold 1,344 shares of the company’s stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $30.00, for a total value of $40,320.00. Following the sale, the director now directly owns 17,176 shares in the company, valued at $515,280. The disclosure for this sale can be found here. In the last three months, insiders sold 4,178 shares of company stock worth $125,511. 32.35% of the stock is currently owned by insiders.
Institutional Investors Weigh In On Unity Bancorp
Large investors have recently added to or reduced their stakes in the stock. BNP Paribas Arbitrage SA acquired a new stake in Unity Bancorp in the second quarter worth $45,000. Tower Research Capital LLC TRC increased its position in Unity Bancorp by 376.1% in the third quarter. Tower Research Capital LLC TRC now owns 2,076 shares of the financial services provider’s stock worth $49,000 after buying an additional 1,640 shares during the period. Citigroup Inc. increased its position in Unity Bancorp by 221,600.0% in the second quarter. Citigroup Inc. now owns 2,217 shares of the financial services provider’s stock worth $52,000 after buying an additional 2,216 shares during the period. JPMorgan Chase & Co. increased its position in Unity Bancorp by 148.1% in the first quarter. JPMorgan Chase & Co. now owns 2,630 shares of the financial services provider’s stock worth $73,000 after buying an additional 1,570 shares during the period. Finally, BNP Paribas Arbitrage SNC increased its position in Unity Bancorp by 423.0% in the first quarter. BNP Paribas Arbitrage SNC now owns 3,457 shares of the financial services provider’s stock worth $79,000 after buying an additional 2,796 shares during the period. 47.58% of the stock is owned by institutional investors and hedge funds.
Unity Bancorp Company Profile
Unity Bancorp, Inc operates as a bank holding company for Unity Bank that provides commercial and retail banking 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 savings accounts, as well as noninterest and interest-bearing demand deposits.