Unity Bancorp, Inc. (NASDAQ:UNTY) Declares Quarterly Dividend of $0.08

Unity Bancorp, Inc. (NASDAQ:UNTY) announced a quarterly dividend on Thursday, August 22nd, Zacks reports. Investors of record on Friday, September 13th will be given a dividend of 0.08 per share by the financial services provider on Friday, September 27th. This represents a $0.32 annualized dividend and a yield of 1.63%. The ex-dividend date of this dividend is Thursday, September 12th.

Unity Bancorp has raised its dividend payment by an average of 24.5% per year over the last three years and has raised its dividend every year for the last 5 years.

UNTY stock traded down $0.32 during midday trading on Wednesday, reaching $19.63. 231 shares of the company were exchanged, compared to its average volume of 5,540. The company has a market cap of $217.32 million, a price-to-earnings ratio of 9.77 and a beta of 0.69. The company has a debt-to-equity ratio of 1.34, a quick ratio of 1.17 and a current ratio of 1.17. Unity Bancorp has a 1-year low of $16.74 and a 1-year high of $24.62. The stock’s 50-day simple moving average is $20.10 and its 200 day simple moving average is $20.69.

Unity Bancorp (NASDAQ:UNTY) last issued its earnings results on Thursday, July 18th. The financial services provider reported $0.53 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.53. The business had revenue of $16.62 million during the quarter, compared to analysts’ expectations of $16.50 million. Unity Bancorp had a net margin of 28.09% and a return on equity of 16.20%. On average, research analysts anticipate that Unity Bancorp will post 2.1 earnings per share for the current year.

A number of brokerages recently weighed in on UNTY. Boenning Scattergood began coverage on shares of Unity Bancorp in a research report on Tuesday, June 11th. They issued a “buy” rating and a $24.00 price target for the company. ValuEngine lowered Unity Bancorp from a “hold” rating to a “sell” rating in a report on Friday, June 21st.

Unity Bancorp Company Profile

Unity Bancorp, Inc operates as the holding company for Unity Bank that provides a range of banking products and services to individuals, small and medium sized businesses, and professional communities. The company offers personal and business checking accounts, time deposits, money market accounts, and regular savings accounts.

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Dividend History for Unity Bancorp (NASDAQ:UNTY)

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