Unity Bancorp, Inc. (NASDAQ:UNTY) Shares Bought by Hillsdale Investment Management Inc.

Hillsdale Investment Management Inc. grew its stake in shares of Unity Bancorp, Inc. (NASDAQ:UNTY) by 18.5% in the fourth quarter, HoldingsChannel reports. The fund owned 3,200 shares of the financial services provider’s stock after buying an additional 500 shares during the quarter. Hillsdale Investment Management Inc.’s holdings in Unity Bancorp were worth $95,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. SG Americas Securities LLC acquired a new position in shares of Unity Bancorp during the 4th quarter valued at about $117,000. Panagora Asset Management Inc. increased its stake in shares of Unity Bancorp by 11.7% during the 4th quarter. Panagora Asset Management Inc. now owns 20,540 shares of the financial services provider’s stock valued at $608,000 after acquiring an additional 2,150 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in Unity Bancorp by 2.5% during the 3rd quarter. Bank of New York Mellon Corp now owns 42,425 shares of the financial services provider’s stock worth $994,000 after purchasing an additional 1,023 shares in the last quarter. Institutional investors and hedge funds own 42.31% of the company’s stock.

Insider Buying and Selling

In other news, CEO James A. Hughes sold 1,156 shares of the business’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $27.28, for a total transaction of $31,535.68. Following the completion of the transaction, the chief executive officer now owns 137,735 shares of the company’s stock, valued at $3,757,410.80. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CEO James A. Hughes sold 1,156 shares of Unity Bancorp stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $27.28, for a total transaction of $31,535.68. Following the sale, the chief executive officer now directly owns 137,735 shares in the company, valued at $3,757,410.80. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Vincent Geraci sold 2,600 shares of Unity Bancorp stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $27.19, for a total transaction of $70,694.00. Following the sale, the director now owns 1,043 shares in the company, valued at $28,359.17. The disclosure for this sale can be found here. 28.88% of the stock is currently owned by company insiders.

Unity Bancorp Stock Up 2.2 %

UNTY opened at $27.50 on Wednesday. The firm has a 50 day moving average price of $27.26 and a 200 day moving average price of $27.50. The company has a market cap of $276.10 million, a PE ratio of 7.22 and a beta of 1.04. Unity Bancorp, Inc. has a 1 year low of $21.94 and a 1 year high of $30.70. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.18 and a current ratio of 1.18.

Unity Bancorp (NASDAQ:UNTY) last announced its quarterly earnings data on Friday, April 12th. The financial services provider reported $0.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.02. Unity Bancorp had a return on equity of 15.23% and a net margin of 24.92%. The firm had revenue of $25.56 million for the quarter, compared to analysts’ expectations of $25.15 million. Sell-side analysts expect that Unity Bancorp, Inc. will post 3.81 earnings per share for the current year.

Unity Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 21st. Investors of record on Friday, June 7th will be paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 1.89%. The ex-dividend date of this dividend is Friday, June 7th. Unity Bancorp’s dividend payout ratio (DPR) is presently 13.65%.

Analysts Set New Price Targets

Separately, StockNews.com downgraded shares of Unity Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday.

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.