Barclays PLC Grows Holdings in Unity Bancorp, Inc. (NASDAQ:UNTY)

Barclays PLC boosted its holdings in shares of Unity Bancorp, Inc. (NASDAQ:UNTY) by 93.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,197 shares of the financial services provider’s stock after acquiring an additional 6,846 shares during the period. Barclays PLC owned 0.14% of Unity Bancorp worth $484,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of UNTY. Geode Capital Management LLC boosted its stake in Unity Bancorp by 0.3% during the 3rd quarter. Geode Capital Management LLC now owns 152,590 shares of the financial services provider’s stock valued at $5,198,000 after purchasing an additional 492 shares during the last quarter. State Street Corp raised its stake in shares of Unity Bancorp by 0.6% in the third quarter. State Street Corp now owns 94,750 shares of the financial services provider’s stock worth $3,227,000 after purchasing an additional 607 shares during the last quarter. BNP Paribas Financial Markets lifted its holdings in shares of Unity Bancorp by 84.6% during the third quarter. BNP Paribas Financial Markets now owns 2,464 shares of the financial services provider’s stock valued at $84,000 after purchasing an additional 1,129 shares in the last quarter. Empowered Funds LLC boosted its position in shares of Unity Bancorp by 5.1% during the third quarter. Empowered Funds LLC now owns 33,303 shares of the financial services provider’s stock valued at $1,134,000 after buying an additional 1,608 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in Unity Bancorp by 7.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 35,083 shares of the financial services provider’s stock worth $1,037,000 after buying an additional 2,393 shares in the last quarter. Institutional investors own 42.31% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on UNTY shares. StockNews.com cut shares of Unity Bancorp from a “buy” rating to a “hold” rating in a research note on Tuesday, October 22nd. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $55.00 price objective (up from $51.00) on shares of Unity Bancorp in a report on Thursday. Finally, Piper Sandler restated an “overweight” rating and issued a $54.00 target price (up previously from $53.00) on shares of Unity Bancorp in a report on Thursday.

Unity Bancorp Stock Up 1.9 %

Unity Bancorp stock opened at $47.15 on Friday. Unity Bancorp, Inc. has a one year low of $25.33 and a one year high of $48.44. The stock has a fifty day moving average of $44.70 and a 200 day moving average of $37.80. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.16 and a current ratio of 1.16. The stock has a market cap of $471.03 million, a PE ratio of 12.12 and a beta of 1.03.

Unity Bancorp (NASDAQ:UNTY) last released its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.08 by $0.05. Unity Bancorp had a return on equity of 14.63% and a net margin of 24.46%. As a group, sell-side analysts predict that Unity Bancorp, Inc. will post 4.01 EPS for the current year.

Unity Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th were issued a dividend of $0.13 per share. The ex-dividend date was Friday, December 13th. This represents a $0.52 dividend on an annualized basis and a yield of 1.10%. Unity Bancorp’s dividend payout ratio is currently 13.37%.

Insiders Place Their Bets

In other Unity Bancorp news, Director Mark S. Brody sold 2,800 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $47.33, for a total transaction of $132,524.00. Following the completion of the sale, the director now owns 70,002 shares of the company’s stock, valued at approximately $3,313,194.66. The trade was a 3.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP David G. Bove sold 4,167 shares of the company’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $46.78, for a total value of $194,932.26. Following the completion of the sale, the senior vice president now owns 9,837 shares of the company’s stock, valued at approximately $460,174.86. The trade was a 29.76 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 10,810 shares of company stock worth $499,642. Company insiders own 28.88% of the company’s stock.

Unity Bancorp Company Profile

Unity Bancorp, Inc operates as a bank holding company for Unity Bank that provides range of commercial and retail banking services to individuals, small and medium sized businesses, and professional communities. It offers personal and business checking accounts, time deposits, money market accounts, savings accounts, and retirement accounts, as well as noninterest and interest-bearing demand deposits.