1,402 Shares in Unity Bancorp, Inc. (NASDAQ:UNTY) Acquired by Allworth Financial LP

Allworth Financial LP acquired a new stake in Unity Bancorp, Inc. (NASDAQ:UNTY) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 1,402 shares of the financial services provider’s stock, valued at approximately $67,000.

A number of other hedge funds also recently made changes to their positions in UNTY. BNP Paribas Financial Markets lifted its holdings in Unity Bancorp by 84.6% in the 3rd quarter. BNP Paribas Financial Markets now owns 2,464 shares of the financial services provider’s stock worth $84,000 after buying an additional 1,129 shares in the last quarter. SG Americas Securities LLC acquired a new position in shares of Unity Bancorp in the 4th quarter valued at approximately $135,000. Foundations Investment Advisors LLC purchased a new position in shares of Unity Bancorp during the 4th quarter valued at approximately $219,000. Princeton Capital Management LLC acquired a new stake in shares of Unity Bancorp during the third quarter worth approximately $208,000. Finally, Barclays PLC grew its position in shares of Unity Bancorp by 93.1% during the third quarter. Barclays PLC now owns 14,197 shares of the financial services provider’s stock worth $484,000 after buying an additional 6,846 shares in the last quarter. Hedge funds and other institutional investors own 42.31% of the company’s stock.

Insider Activity

In other news, Director Vincent Geraci sold 1,811 shares of the business’s stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $50.82, for a total transaction of $92,035.02. Following the completion of the transaction, the director now owns 8,312 shares of the company’s stock, valued at approximately $422,415.84. The trade was a 17.89 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Peter E. Maricondo sold 2,800 shares of Unity Bancorp stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $44.74, for a total transaction of $125,272.00. Following the completion of the sale, the director now owns 39,522 shares in the company, valued at approximately $1,768,214.28. This represents a 6.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 14,758 shares of company stock valued at $700,874. 28.88% of the stock is currently owned by insiders.

Analysts Set New Price Targets

UNTY has been the topic of a number of research analyst reports. Piper Sandler reiterated an “overweight” rating and set a $54.00 price objective (up from $53.00) on shares of Unity Bancorp in a research note on Thursday, January 16th. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $55.00 price target (up from $51.00) on shares of Unity Bancorp in a research note on Thursday, January 16th.

Unity Bancorp Stock Performance

Unity Bancorp stock opened at $46.95 on Tuesday. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.16 and a quick ratio of 1.16. Unity Bancorp, Inc. has a 12 month low of $25.60 and a 12 month high of $51.22. The company has a fifty day moving average price of $45.97 and a two-hundred day moving average price of $40.92. The company has a market cap of $468.84 million, a PE ratio of 11.56 and a beta of 1.03.

Unity Bancorp (NASDAQ:UNTY) last posted its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.13 EPS for the quarter, beating the consensus estimate of $1.08 by $0.05. Unity Bancorp had a net margin of 25.24% and a return on equity of 15.08%. Research analysts expect that Unity Bancorp, Inc. will post 4.83 earnings per share for the current year.

Unity Bancorp 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.