41,167 Shares in Unity Bancorp, Inc. (NASDAQ:UNTY) Purchased by Segall Bryant & Hamill LLC

Segall Bryant & Hamill LLC bought a new stake in Unity Bancorp, Inc. (NASDAQ:UNTY) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 41,167 shares of the financial services provider’s stock, valued at approximately $1,795,000. Segall Bryant & Hamill LLC owned about 0.41% of Unity Bancorp as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in UNTY. Prudential Financial Inc. bought a new stake in shares of Unity Bancorp in the fourth quarter valued at approximately $450,000. Hillsdale Investment Management Inc. bought a new stake in Unity Bancorp in the 4th quarter valued at $283,000. Sei Investments Co. acquired a new stake in Unity Bancorp in the 4th quarter worth $339,000. American Century Companies Inc. increased its holdings in shares of Unity Bancorp by 53.4% during the 4th quarter. American Century Companies Inc. now owns 97,975 shares of the financial services provider’s stock worth $4,273,000 after purchasing an additional 34,089 shares during the period. Finally, Virtu Financial LLC acquired a new position in shares of Unity Bancorp during the fourth quarter valued at about $207,000. 42.31% of the stock is owned by institutional investors.

Unity Bancorp Price Performance

NASDAQ:UNTY opened at $41.29 on Friday. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.16 and a current ratio of 1.16. The company has a 50-day moving average of $45.87 and a 200-day moving average of $42.58. Unity Bancorp, Inc. has a 52 week low of $25.60 and a 52 week high of $51.22. The company has a market capitalization of $415.29 million, a price-to-earnings ratio of 10.17 and a beta of 0.95.

Unity Bancorp (NASDAQ:UNTY) last announced its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.13 EPS for the quarter, topping analysts’ consensus estimates of $1.08 by $0.05. Unity Bancorp had a net margin of 25.24% and a return on equity of 15.08%. As a group, equities research analysts anticipate that Unity Bancorp, Inc. will post 4.83 earnings per share for the current fiscal year.

Unity Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were given a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 1.36%. This is a boost from Unity Bancorp’s previous quarterly dividend of $0.13. The ex-dividend date was Friday, March 14th. Unity Bancorp’s dividend payout ratio is 13.79%.

Insider Buying and Selling at Unity Bancorp

In related news, Director Mark S. Brody sold 1,600 shares of the stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $48.32, for a total transaction of $77,312.00. Following the completion of the sale, the director now owns 71,802 shares in the company, valued at $3,469,472.64. This trade represents a 2.18 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Vincent Geraci sold 1,811 shares of the business’s stock in a transaction dated 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 owns 8,312 shares in the company, valued at approximately $422,415.84. This trade represents a 17.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 7,791 shares of company stock valued at $380,669. 29.68% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Piper Sandler restated an “overweight” rating and set a $54.00 price target (up from $53.00) on shares of Unity Bancorp in a research note on Thursday, January 16th. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $55.00 price objective (up previously from $51.00) on shares of Unity Bancorp in a report on Thursday, January 16th.

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.