BNP Paribas Financial Markets Purchases 1,129 Shares of Unity Bancorp, Inc. (NASDAQ:UNTY)

BNP Paribas Financial Markets grew its position in shares of Unity Bancorp, Inc. (NASDAQ:UNTY) by 84.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,464 shares of the financial services provider’s stock after purchasing an additional 1,129 shares during the quarter. BNP Paribas Financial Markets’ holdings in Unity Bancorp were worth $84,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Panagora Asset Management Inc. grew its position 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 valued at $617,000 after acquiring an additional 488 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of Unity Bancorp by 2,329.8% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,385 shares of the financial services provider’s stock valued at $41,000 after purchasing an additional 1,328 shares in the last quarter. Empowered Funds LLC grew its holdings in shares of Unity Bancorp by 5.1% during the 3rd quarter. Empowered Funds LLC now owns 33,303 shares of the financial services provider’s stock valued at $1,134,000 after purchasing an additional 1,608 shares during the last quarter. Bank of New York Mellon Corp raised its position 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 purchasing an additional 2,393 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in Unity Bancorp by 1.2% in the second quarter. Dimensional Fund Advisors LP now owns 478,877 shares of the financial services provider’s stock worth $14,159,000 after purchasing an additional 5,449 shares during the last quarter. 42.31% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Mark S. Brody sold 2,800 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $47.33, for a total transaction of $132,524.00. Following the transaction, the director now owns 70,002 shares in the company, valued at $3,313,194.66. The trade was a 3.85 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP David G. Bove sold 4,167 shares of the stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $46.78, for a total transaction of $194,932.26. Following the completion of the transaction, the senior vice president now directly owns 9,837 shares of the company’s stock, valued at approximately $460,174.86. The trade was a 29.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 10,810 shares of company stock worth $499,642. 28.88% of the stock is currently owned by company insiders.

Unity Bancorp Trading Down 6.8 %

Shares of UNTY opened at $43.03 on Thursday. The stock has a market capitalization of $429.70 million, a P/E ratio of 11.06 and a beta of 1.03. Unity Bancorp, Inc. has a twelve month low of $25.33 and a twelve month high of $48.44. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.97. The firm has a fifty day simple moving average of $43.00 and a two-hundred day simple moving average of $35.33.

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

Unity Bancorp Dividend Announcement

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 issued a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 1.21%. The ex-dividend date is Friday, December 13th. Unity Bancorp’s dividend payout ratio (DPR) is currently 13.37%.

Analyst Upgrades and Downgrades

UNTY has been the topic of a number of recent research reports. StockNews.com cut Unity Bancorp from a “buy” rating to a “hold” rating in a research note on Tuesday, October 22nd. Piper Sandler restated an “overweight” rating and set a $44.00 target price (up from $40.00) on shares of Unity Bancorp in a report on Monday, October 14th. Finally, Keefe, Bruyette & Woods lifted their price target on Unity Bancorp from $43.00 to $51.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th.

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.