Unity Bancorp (NASDAQ:UNTY – Get Rating) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Monday.
Separately, Piper Sandler assumed coverage on shares of Unity Bancorp in a research note on Thursday, April 7th. They issued an “overweight” rating and a $33.00 price target on the stock.
NASDAQ:UNTY traded up $0.44 during mid-day trading on Monday, hitting $27.24. The stock had a trading volume of 1,621 shares, compared to its average volume of 33,200. The stock has a 50-day simple moving average of $28.36 and a two-hundred day simple moving average of $28.06. The company has a market capitalization of $285.88 million, a PE ratio of 7.85 and a beta of 1.07. Unity Bancorp has a twelve month low of $21.32 and a twelve month high of $31.37. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.23.
Unity Bancorp (NASDAQ:UNTY – Get Rating) last issued its earnings results on Thursday, April 14th. The financial services provider reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.04. The firm had revenue of $22.14 million for the quarter, compared to analysts’ expectations of $22.40 million. Unity Bancorp had a net margin of 38.26% and a return on equity of 18.63%. Sell-side analysts predict that Unity Bancorp will post 3.54 EPS for the current fiscal year.
Institutional investors have recently made changes to their positions in the business. Dimensional Fund Advisors LP increased its stake in Unity Bancorp by 2.0% in the third quarter. Dimensional Fund Advisors LP now owns 378,422 shares of the financial services provider’s stock valued at $8,855,000 after purchasing an additional 7,271 shares during the last quarter. Hillsdale Investment Management Inc. grew its position in shares of Unity Bancorp by 33.3% during the fourth quarter. Hillsdale Investment Management Inc. now owns 2,800 shares of the financial services provider’s stock worth $74,000 after acquiring an additional 700 shares during the last quarter. Gator Capital Management LLC purchased a new position in shares of Unity Bancorp during the fourth quarter worth approximately $780,000. BHZ Capital Management LP grew its position in shares of Unity Bancorp by 15.2% during the fourth quarter. BHZ Capital Management LP now owns 23,596 shares of the financial services provider’s stock worth $619,000 after acquiring an additional 3,117 shares during the last quarter. Finally, Acadian Asset Management LLC grew its position in shares of Unity Bancorp by 2.0% during the fourth quarter. Acadian Asset Management LLC now owns 46,099 shares of the financial services provider’s stock worth $1,208,000 after acquiring an additional 901 shares during the last quarter. Institutional investors own 49.77% of the company’s stock.
Unity Bancorp Company Profile (Get Rating)
Unity Bancorp, Inc operates as the holding company for Unity Bank that provides commercial and retail 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, as well as noninterest and interest-bearing demand deposits.