Unity Bancorp, Inc. (NASDAQ:UNTY) Short Interest Down 19.2% in May

Unity Bancorp, Inc. (NASDAQ:UNTY) was the recipient of a significant decline in short interest during the month of May. As of May 31st, there was short interest totalling 21,500 shares, a decline of 19.2% from the May 15th total of 26,600 shares. Based on an average daily volume of 14,900 shares, the short-interest ratio is presently 1.4 days. Approximately 0.4% of the shares of the company are sold short.

Insider Buying and Selling at Unity Bancorp

In other Unity Bancorp news, Director Vincent Geraci sold 2,600 shares of the business’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $27.19, for a total transaction of $70,694.00. Following the completion of the sale, the director now owns 1,043 shares in the company, valued at $28,359.17. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 28.88% of the stock is owned by insiders.

Hedge Funds Weigh In On Unity Bancorp

Institutional investors have recently modified their holdings of the company. Hillsdale Investment Management Inc. lifted its holdings 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 worth $95,000 after purchasing an additional 500 shares during the period. Janney Montgomery Scott LLC lifted its holdings in Unity Bancorp by 6.0% in the first quarter. Janney Montgomery Scott LLC now owns 20,007 shares of the financial services provider’s stock worth $552,000 after purchasing an additional 1,135 shares during the period. BNP Paribas Financial Markets lifted its holdings in Unity Bancorp by 80.3% in the first quarter. BNP Paribas Financial Markets now owns 3,389 shares of the financial services provider’s stock worth $94,000 after purchasing an additional 1,509 shares during the period. Empowered Funds LLC lifted its holdings in Unity Bancorp by 7.7% in the first quarter. Empowered Funds LLC now owns 29,535 shares of the financial services provider’s stock worth $815,000 after purchasing an additional 2,100 shares during the period. Finally, Panagora Asset Management Inc. lifted its holdings in Unity Bancorp by 11.7% in the fourth quarter. Panagora Asset Management Inc. now owns 20,540 shares of the financial services provider’s stock worth $608,000 after purchasing an additional 2,150 shares during the period. Institutional investors own 42.31% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered shares of Unity Bancorp from a “buy” rating to a “hold” rating in a research note on Wednesday, May 29th.

Unity Bancorp Stock Down 2.2 %

Unity Bancorp stock opened at $25.76 on Monday. The company has a 50-day simple moving average of $27.06 and a 200-day simple moving average of $27.60. The firm has a market capitalization of $258.63 million, a P/E ratio of 6.76 and a beta of 1.04. 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 has a one year low of $22.49 and a one year high of $30.70.

Unity Bancorp (NASDAQ:UNTY) last released its quarterly earnings results on Friday, April 12th. The financial services provider reported $0.93 EPS for the quarter, topping the consensus estimate of $0.91 by $0.02. The business had revenue of $25.56 million during the quarter, compared to analyst estimates of $25.15 million. Unity Bancorp had a net margin of 24.92% and a return on equity of 15.23%. As a group, equities analysts expect that Unity Bancorp will post 3.81 earnings per share for the current year.

Unity Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 21st. Stockholders of record on Friday, June 7th will be given a dividend of $0.13 per share. The ex-dividend date is Friday, June 7th. This represents a $0.52 annualized dividend and a dividend yield of 2.02%. Unity Bancorp’s dividend payout ratio is currently 13.65%.

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.