Vanguard Group Inc. Increases Stake in Unity Bancorp, Inc. (NASDAQ:UNTY)

Vanguard Group Inc. raised its holdings in shares of Unity Bancorp, Inc. (NASDAQ:UNTY) by 0.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 337,185 shares of the financial services provider’s stock after buying an additional 2,774 shares during the period. Vanguard Group Inc.’s holdings in Unity Bancorp were worth $7,654,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in UNTY. Wedge Capital Management L L P NC purchased a new stake in Unity Bancorp during the second quarter valued at approximately $408,000. Acadian Asset Management LLC increased its holdings in Unity Bancorp by 23.8% during the second quarter. Acadian Asset Management LLC now owns 18,346 shares of the financial services provider’s stock valued at $416,000 after buying an additional 3,531 shares during the last quarter. Banc Funds Co. LLC increased its holdings in Unity Bancorp by 3.7% during the second quarter. Banc Funds Co. LLC now owns 863,568 shares of the financial services provider’s stock valued at $19,603,000 after buying an additional 30,736 shares during the last quarter. Northern Trust Corp increased its holdings in Unity Bancorp by 2.2% during the second quarter. Northern Trust Corp now owns 91,029 shares of the financial services provider’s stock valued at $2,066,000 after buying an additional 1,969 shares during the last quarter. Finally, BlackRock Inc. increased its holdings in Unity Bancorp by 6.4% during the second quarter. BlackRock Inc. now owns 406,867 shares of the financial services provider’s stock valued at $9,237,000 after buying an additional 24,352 shares during the last quarter. 49.67% of the stock is owned by institutional investors and hedge funds.

A number of analysts have commented on the stock. ValuEngine raised shares of Unity Bancorp from a “sell” rating to a “hold” rating in a report on Thursday. Zacks Investment Research raised shares of Unity Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, September 18th.

Shares of NASDAQ UNTY traded down $0.05 during midday trading on Friday, reaching $21.25. The stock had a trading volume of 1,700 shares, compared to its average volume of 8,646. The stock has a 50-day moving average of $21.34 and a 200-day moving average of $20.95. The company has a debt-to-equity ratio of 1.34, a quick ratio of 1.17 and a current ratio of 1.17. The company has a market capitalization of $231.33 million, a price-to-earnings ratio of 10.57 and a beta of 0.73. Unity Bancorp, Inc. has a 12-month low of $16.74 and a 12-month high of $24.70.

Unity Bancorp (NASDAQ:UNTY) last posted its earnings results on Thursday, October 17th. The financial services provider reported $0.54 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.53 by $0.01. The company had revenue of $17.11 million during the quarter, compared to analysts’ expectations of $16.80 million. Unity Bancorp had a net margin of 27.95% and a return on equity of 16.22%. As a group, analysts forecast that Unity Bancorp, Inc. will post 2.12 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were paid a dividend of $0.08 per share. The ex-dividend date was Thursday, September 12th. This represents a $0.32 annualized dividend and a yield of 1.51%. Unity Bancorp’s payout ratio is 15.92%.

About Unity Bancorp

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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Institutional Ownership by Quarter for Unity Bancorp (NASDAQ:UNTY)

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