James Joseph Donovan Sells 1,080 Shares of Unity Bancorp, Inc. (NASDAQ:UNTY) Stock

On Tuesday, February 4th, James Joseph Donovan, Senior Vice President of Unity Bancorp, Inc. (NASDAQ:UNTY), conducted a stock transaction by selling 1,080 shares of the company. The shares were sold at an average price of $48.88, leading to a total transaction value of $52,790.40. After this sale, Donovan's remaining stake in Unity Bancorp amounts to 4,975 shares, which are currently valued at around $243,178. This recent sale represents a significant reduction in Donovan's holdings, reflecting a 17.84% decrease in his position. The transaction has been formally reported to the Securities and Exchange Commission (SEC), and the detailed filing can be checked on the SEC website.

Unity Bancorp Trading Performance

As of Thursday, the stock of Unity Bancorp opened at $49.92. Over the past year, the stock has seen a low of $25.33 and a high of $50.36. The average prices for its moving averages stand at $45.22 for the 50-day moving average and $39.43 for the 200-day moving average. Unity Bancorp holds a market capitalization of approximately $498.70 million, along with a price-to-earnings (P/E) ratio of 12.30 and a beta value of 1.03, suggesting a relatively moderate volatility compared to the market.

Recent Earnings Results

Unity Bancorp recently shared its earnings results on January 15th, revealing an earnings per share (EPS) of $1.13 for the quarter, surpassing analysts' expectations which were set at $1.08, improving by $0.05. The company has demonstrated a net margin of 25.24%, coupled with a return on equity of 15.08%. Analysts forecast that Unity Bancorp is likely to report an EPS of 4.83 for the current fiscal year.

Dividend Announcement

The bank also announced a quarterly dividend that was paid out on December 31st. Shareholders who were on record by December 13th received a dividend of $0.13. This dividend indicates an annualized yield of 1.04% with an overall payout ratio of 12.81% based on current earnings.

Institutional Investor Activity

Recently, several large institutional investors have adjusted their positions in Unity Bancorp. Among them, Allworth Financial LP entered a new investment valued at $67,000 in the fourth quarter. Additionally, BNP Paribas Financial Markets increased its ownership by 84.6% in the third quarter, now holding 2,464 shares valued at $84,000 after acquiring an additional 1,129 shares. Other institutional purchases include an approximate $135,000 investment by SG Americas Securities LLC and about $208,000 by Princeton Capital Management LLC in the third quarter. Currently, hedge funds own roughly 42.31% of Unity Bancorp's stock.

Analyst Recommendations

Current analyst assessments on Unity Bancorp reflect mixed sentiments. StockNews.com downgraded the rating from "buy" to "hold" in a note on October 22nd. Conversely, Keefe, Bruyette & Woods reiterated an "outperform" rating, adjusting their price target to $55.00 from a previous $51.00, indicating a favorable outlook on the stock's performance. Furthermore, Piper Sandler reaffirmed an "overweight" rating with a target price adjustment to $54.00, an increase from $53.00.

Company Overview

Unity Bancorp, Inc. operates as a bank holding company for Unity Bank. The bank offers a comprehensive range of commercial and retail banking services aimed at individuals, small to medium-sized businesses, and professional communities. Services provided include personal and business checking accounts, time deposits, money market accounts, savings accounts, and retirement accounts, along with various demand deposit options.

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