Prudential Financial Inc. Buys New Position in Unity Bancorp, Inc. (NASDAQ:UNTY)

Prudential Financial Inc. acquired a new position in shares of Unity Bancorp, Inc. ( NASDAQ:UNTY – Free Report ) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission.

The fund acquired 10,327 shares of the financial services provider’s stock, valued at approximately $450,000. Prudential Financial Inc. owned 0.



10% of Unity Bancorp at the end of the most recent quarter. A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Allworth Financial LP acquired a new position in Unity Bancorp during the fourth quarter valued at $67,000.

BNP Paribas Financial Markets increased its holdings in Unity Bancorp by 84.6% in the 3rd quarter. BNP Paribas Financial Markets now owns 2,464 shares of the financial services provider’s stock worth $84,000 after acquiring an additional 1,129 shares in the last quarter.

SG Americas Securities LLC purchased a new stake in shares of Unity Bancorp during the fourth quarter worth about $135,000. Thrivent Financial for Lutherans purchased a new position in Unity Bancorp in the 4th quarter valued at about $200,000. Finally, Virtu Financial LLC purchased a new stake in shares of Unity Bancorp during the fourth quarter worth approximately $207,000.

Institutional investors and hedge funds own 42.31% of the company’s stock. Wall Street Analysts Forecast Growth UNTY has been the subject of several research reports.

Piper Sandler reaffirmed an “overweight” rating and set a $54.00 price objective (up previously from $53.00) on shares of Unity Bancorp in a research note on Thursday, January 16th.

Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $55.00 target price (up previously from $51.00) on shares of Unity Bancorp in a research report on Thursday, January 16th.

Unity Bancorp Trading Up 2.9 % Shares of UNTY stock opened at $41.22 on Thursday.

The company has a 50 day moving average price of $44.36 and a 200 day moving average price of $43.06.

The stock has a market capitalization of $414.59 million, a P/E ratio of 10.15 and a beta of 0.

80. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.

16 and a current ratio of 1.16. Unity Bancorp, Inc.

has a fifty-two week low of $25.60 and a fifty-two week high of $51.22.

Unity Bancorp ( NASDAQ:UNTY – Get Free Report ) last announced its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.13 EPS for the quarter, topping analysts’ consensus estimates of $1.

08 by $0.05. Unity Bancorp had a return on equity of 15.

08% and a net margin of 25.24%. Equities research analysts predict that Unity Bancorp, Inc.

will post 4.83 EPS for the current fiscal year. Unity Bancorp Increases Dividend The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th.

Stockholders of record on Friday, March 14th were issued a $0.14 dividend. The ex-dividend date was Friday, March 14th.

This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.36%.

This is an increase from Unity Bancorp’s previous quarterly dividend of $0.13. Unity Bancorp’s dividend payout ratio is presently 13.

79%. Insider Buying and Selling at Unity Bancorp In other Unity Bancorp news, Director Mark S. Brody sold 1,600 shares of the company’s stock in a transaction that occurred on Friday, January 31st.

The stock was sold at an average price of $48.32, for a total transaction of $77,312.00.

Following the completion of the sale, the director now directly owns 71,802 shares of the company’s stock, valued at $3,469,472.64. This represents a 2.

18 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website . Also, Director Mary E.

Gross sold 3,300 shares of the stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $48.04, for a total value of $158,532.

00. Following the sale, the director now directly owns 18,479 shares of the company’s stock, valued at approximately $887,731.16.

This represents a 15.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here .

Insiders have sold 7,791 shares of company stock worth $380,669 over the last three months. Insiders own 29.68% of the company’s stock.

About Unity Bancorp ( Free Report ) 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. Featured Articles Five stocks we like better than Unity Bancorp Are These Liquid Natural Gas Stocks Ready For An Upside Bounce? Quantum Computing: The $6.

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