Unity Bancorp (UNTY) to Release Quarterly Earnings on Friday

Unity Bancorp (NASDAQ:UNTY) is anticipated to announce its earnings results before the market opens on Friday, April 11th. Analysts expect the company to announce earnings of $1.12 per share and revenue of $28.81 million for the quarter.

Unity Bancorp (NASDAQ:UNTY) last issued its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.13 earnings per share for the quarter, beating the consensus estimate of $1.08 by $0.05. Unity Bancorp had a return on equity of 15.08% and a net margin of 25.24%. On average, analysts expect Unity Bancorp to post $5 EPS for the current fiscal year and $5 EPS for the next fiscal year.

Unity Bancorp Stock Performance

NASDAQ UNTY opened at $40.05 on Wednesday. The company has a fifty day moving average price of $44.65 and a 200-day moving average price of $43.03. The firm has a market cap of $402.82 million, a price-to-earnings ratio of 9.86 and a beta of 0.80. 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 has a 1 year low of $25.60 and a 1 year high of $51.22.

Unity Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were issued a dividend of $0.14 per share. The ex-dividend date was Friday, March 14th. This is a boost from Unity Bancorp’s previous quarterly dividend of $0.13. This represents a $0.56 annualized dividend and a yield of 1.40%. Unity Bancorp’s payout ratio is 13.79%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on UNTY. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $55.00 target price (up previously from $51.00) on shares of Unity Bancorp in a research note on Thursday, January 16th. Piper Sandler reissued an “overweight” rating and issued a $54.00 price objective (up previously from $53.00) on shares of Unity Bancorp in a research report on Thursday, January 16th.

Insider Activity at Unity Bancorp

In other news, Director Vincent Geraci sold 1,811 shares of the stock in a transaction that occurred 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 directly owns 8,312 shares of the company’s stock, valued at $422,415.84. This represents a 17.89 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mark S. Brody sold 1,600 shares of the firm’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $48.32, for a total transaction of $77,312.00. Following the sale, the director now owns 71,802 shares of the company’s stock, valued at approximately $3,469,472.64. The trade was a 2.18 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 7,791 shares of company stock worth $380,669. 29.68% of the stock is owned by company insiders.

About Unity Bancorp

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.