Unity Bancorp (NASDAQ:UNTY) Downgraded by StockNews.com

Unity Bancorp (NASDAQ:UNTY) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Saturday.

Unity Bancorp Trading Up 6.1 %

Shares of NASDAQ UNTY opened at $29.57 on Friday. The company has a market cap of $296.88 million, a price-to-earnings ratio of 7.76 and a beta of 1.04. Unity Bancorp has a 12-month low of $22.49 and a 12-month high of $30.70. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 1.16. The stock’s 50 day simple moving average is $27.16 and its 200 day simple moving average is $27.56.

Unity Bancorp (NASDAQ:UNTY) last issued its quarterly earnings results on Friday, April 12th. The financial services provider reported $0.93 earnings per share (EPS) for the quarter, beating 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 company had revenue of $25.56 million for the quarter, compared to analysts’ expectations of $25.15 million. Equities research analysts expect that Unity Bancorp will post 3.81 EPS for the current year.

Insider Activity

In related news, Director Vincent Geraci sold 2,600 shares of Unity Bancorp stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $27.19, for a total value of $70,694.00. Following the transaction, the director now directly owns 1,043 shares in the company, valued at approximately $28,359.17. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 28.88% of the stock is owned by insiders.

Institutional Trading of Unity Bancorp

A number of institutional investors have recently bought and sold shares of UNTY. Inspire Investing LLC acquired a new stake in shares of Unity Bancorp in the first quarter worth about $884,000. O Shaughnessy Asset Management LLC increased its stake in shares of Unity Bancorp by 75.2% in the first quarter. O Shaughnessy Asset Management LLC now owns 16,552 shares of the financial services provider’s stock worth $457,000 after purchasing an additional 7,104 shares during the period. GSA Capital Partners LLP increased its stake in shares of Unity Bancorp by 47.4% in the first quarter. GSA Capital Partners LLP now owns 16,649 shares of the financial services provider’s stock worth $460,000 after purchasing an additional 5,352 shares during the period. SG Americas Securities LLC bought a new position in shares of Unity Bancorp in the fourth quarter worth about $117,000. Finally, Vanguard Group Inc. increased its stake in shares of Unity Bancorp by 0.8% in the first quarter. Vanguard Group Inc. now owns 414,036 shares of the financial services provider’s stock worth $11,427,000 after purchasing an additional 3,170 shares during the period. Institutional investors and hedge funds own 42.31% of the company’s stock.

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.