Insider Selling: Unity Bancorp, Inc. (NASDAQ:UNTY) SVP Sells $79,013.60 in Stock

Unity Bancorp, Inc. (NASDAQ:UNTY) SVP Minsu Kim sold 2,264 shares of the business’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $34.90, for a total transaction of $79,013.60. Following the sale, the senior vice president now directly owns 3,975 shares of the company’s stock, valued at $138,727.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Unity Bancorp Stock Performance

Shares of UNTY stock opened at $35.56 on Friday. The stock has a market cap of $357.02 million, a PE ratio of 9.38 and a beta of 1.02. The stock has a 50-day moving average of $28.63 and a 200-day moving average of $27.91. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.18 and a quick ratio of 1.18. Unity Bancorp, Inc. has a one year low of $22.50 and a one year high of $35.66.

Unity Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 21st. Shareholders of record on Friday, June 7th were paid a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 1.46%. The ex-dividend date of this dividend was Friday, June 7th. Unity Bancorp’s payout ratio is presently 13.72%.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $39.00 target price (up previously from $35.00) on shares of Unity Bancorp in a report on Monday, July 15th. StockNews.com raised Unity Bancorp from a “hold” rating to a “buy” rating in a research note on Saturday.

Institutional Investors Weigh In On Unity Bancorp

Several hedge funds have recently bought and sold shares of UNTY. Allspring Global Investments Holdings LLC grew its holdings 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 buying an additional 1,328 shares during the period. BNP Paribas Financial Markets lifted its holdings in Unity Bancorp by 80.3% during the first quarter. BNP Paribas Financial Markets now owns 3,389 shares of the financial services provider’s stock worth $94,000 after acquiring an additional 1,509 shares in the last quarter. Hillsdale Investment Management Inc. grew its stake in Unity Bancorp by 18.5% in the fourth quarter. Hillsdale Investment Management Inc. now owns 3,200 shares of the financial services provider’s stock valued at $95,000 after acquiring an additional 500 shares during the period. SG Americas Securities LLC bought a new stake in shares of Unity Bancorp in the fourth quarter worth about $117,000. Finally, O Shaughnessy Asset Management LLC increased its holdings in shares of Unity Bancorp by 75.2% in the first quarter. O Shaughnessy Asset Management LLC now owns 16,552 shares of the financial services provider’s stock worth $457,000 after acquiring an additional 7,104 shares in the last quarter. 42.31% of the stock is currently owned by institutional investors and hedge funds.

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.