GSA Capital Partners LLP Has $308,000 Holdings in Unity Bancorp, Inc. (NASDAQ:UNTY)

GSA Capital Partners LLP cut its position in shares of Unity Bancorp, Inc. (NASDAQ:UNTY) by 45.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,055 shares of the financial services provider’s stock after selling 7,594 shares during the quarter. GSA Capital Partners LLP owned about 0.09% of Unity Bancorp worth $308,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. Dimensional Fund Advisors LP increased its position in shares of Unity Bancorp by 1.2% during the second quarter. Dimensional Fund Advisors LP now owns 478,877 shares of the financial services provider’s stock worth $14,159,000 after buying an additional 5,449 shares during the period. Ritholtz Wealth Management bought a new position in Unity Bancorp during the second quarter worth $202,000. Panagora Asset Management Inc. boosted its stake in Unity Bancorp by 2.4% during the second quarter. Panagora Asset Management Inc. now owns 20,852 shares of the financial services provider’s stock worth $617,000 after acquiring an additional 488 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in Unity Bancorp by 2,329.8% during the second quarter. Allspring Global Investments Holdings LLC now owns 1,385 shares of the financial services provider’s stock worth $41,000 after acquiring an additional 1,328 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in Unity Bancorp by 7.3% during the second quarter. Bank of New York Mellon Corp now owns 35,083 shares of the financial services provider’s stock worth $1,037,000 after acquiring an additional 2,393 shares in the last quarter. 42.31% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Unity Bancorp

In other Unity Bancorp news, Director Vincent Geraci sold 1,043 shares of the company’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $44.98, for a total value of $46,914.14. Following the completion of the sale, the director now directly owns 8,250 shares of the company’s stock, valued at approximately $371,085. This represents a 11.22 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 28.88% of the company’s stock.

Unity Bancorp Stock Up 1.6 %

Unity Bancorp stock opened at $46.61 on Friday. Unity Bancorp, Inc. has a 1-year low of $25.33 and a 1-year high of $48.08. The firm has a market capitalization of $465.63 million, a price-to-earnings ratio of 11.98 and a beta of 0.99. The firm’s fifty day moving average price is $38.62 and its two-hundred day moving average price is $32.99. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.97.

Unity Bancorp (NASDAQ:UNTY) last released its quarterly earnings data on Friday, October 11th. The financial services provider reported $1.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.97 by $0.10. Unity Bancorp had a net margin of 24.46% and a return on equity of 14.63%. The firm had revenue of $27.66 million for the quarter, compared to analyst estimates of $26.40 million. On average, equities research analysts predict that Unity Bancorp, Inc. will post 4.01 earnings per share for the current fiscal year.

Unity Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.12%. The ex-dividend date of this dividend is Friday, December 13th. Unity Bancorp’s dividend payout ratio (DPR) is 13.37%.

Analysts Set New Price Targets

Several brokerages recently issued reports on UNTY. StockNews.com lowered shares of Unity Bancorp from a “buy” rating to a “hold” rating in a research note on Tuesday, October 22nd. Piper Sandler reissued an “overweight” rating and set a $44.00 target price (up from $40.00) on shares of Unity Bancorp in a research note on Monday, October 14th.

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.