Unity Bancorp, Inc. (NASDAQ:UNTY) Shares Sold by Pacific Ridge Capital Partners LLC

Pacific Ridge Capital Partners LLC lessened its holdings in shares of Unity Bancorp, Inc. (NASDAQ:UNTY) by 4.1% during the second quarter, HoldingsChannel reports. The fund owned 205,267 shares of the financial services provider’s stock after selling 8,733 shares during the period. Unity Bancorp comprises approximately 1.5% of Pacific Ridge Capital Partners LLC’s investment portfolio, making the stock its 19th biggest holding. Pacific Ridge Capital Partners LLC’s holdings in Unity Bancorp were worth $6,070,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of UNTY. Inspire Investing LLC purchased a new stake in shares of Unity Bancorp during the 1st quarter worth $884,000. O Shaughnessy Asset Management LLC lifted its position in shares of Unity Bancorp by 75.2% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 16,552 shares of the financial services provider’s stock valued at $457,000 after acquiring an additional 7,104 shares during the period. Ritholtz Wealth Management acquired a new stake in shares of Unity Bancorp in the 2nd quarter worth approximately $202,000. Dimensional Fund Advisors LP increased its stake in Unity Bancorp by 1.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 478,877 shares of the financial services provider’s stock valued at $14,159,000 after purchasing an additional 5,449 shares in the last quarter. Finally, GSA Capital Partners LLP increased its stake in Unity Bancorp by 47.4% in the 1st quarter. GSA Capital Partners LLP now owns 16,649 shares of the financial services provider’s stock valued at $460,000 after purchasing an additional 5,352 shares in the last quarter. Hedge funds and other institutional investors own 42.31% of the company’s stock.

Insider Buying and Selling at Unity Bancorp

In other Unity Bancorp news, SVP James Joseph Donovan sold 750 shares of the firm’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $34.97, for a total transaction of $26,227.50. Following the sale, the senior vice president now directly owns 166 shares of the company’s stock, valued at approximately $5,805.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, SVP Minsu Kim sold 2,264 shares of Unity Bancorp stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $34.90, for a total value of $79,013.60. Following the completion of the sale, the senior vice president now owns 3,975 shares of the company’s stock, valued at $138,727.50. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP James Joseph Donovan sold 750 shares of the stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $34.97, for a total value of $26,227.50. Following the transaction, the senior vice president now owns 166 shares in the company, valued at $5,805.02. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 3,046 shares of company stock worth $106,265. Corporate insiders own 28.88% of the company’s stock.

Unity Bancorp Stock Down 0.4 %

UNTY stock opened at $33.92 on Friday. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.15 and a quick ratio of 1.15. Unity Bancorp, Inc. has a 12 month low of $22.50 and a 12 month high of $35.66. The firm has a market capitalization of $338.52 million, a PE ratio of 8.98 and a beta of 1.01. The company’s 50 day simple moving average is $33.16 and its 200-day simple moving average is $29.48.

Unity Bancorp (NASDAQ:UNTY) last released its quarterly earnings results on Friday, July 12th. The financial services provider reported $0.93 earnings per share for the quarter, missing the consensus estimate of $0.94 by ($0.01). Unity Bancorp had a return on equity of 14.71% and a net margin of 24.37%. The company had revenue of $25.46 million for the quarter, compared to analysts’ expectations of $25.81 million. Equities analysts expect that Unity Bancorp, Inc. will post 3.8 earnings per share for the current fiscal year.

Unity Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Friday, September 6th were paid a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 1.53%. The ex-dividend date of this dividend was Friday, September 6th. Unity Bancorp’s payout ratio is 13.72%.

Analyst Ratings Changes

A number of analysts have commented on UNTY shares. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $39.00 target price (up from $35.00) on shares of Unity Bancorp in a research report on Monday, July 15th. StockNews.com lowered shares of Unity Bancorp from a “buy” rating to a “hold” rating in a research report on Saturday, September 7th.

Unity Bancorp 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.