Ritholtz Wealth Management Has $229,000 Holdings in Unity Bancorp, Inc. (NASDAQ:UNTY)

Ritholtz Wealth Management trimmed its stake in Unity Bancorp, Inc. (NASDAQ:UNTY) by 22.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,254 shares of the financial services provider’s stock after selling 1,527 shares during the period. Ritholtz Wealth Management’s holdings in Unity Bancorp were worth $229,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. BNP Paribas Financial Markets grew its position in Unity Bancorp by 84.6% during the third quarter. BNP Paribas Financial Markets now owns 2,464 shares of the financial services provider’s stock worth $84,000 after buying an additional 1,129 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Unity Bancorp in the 3rd quarter worth approximately $623,000. Geode Capital Management LLC lifted its position in shares of Unity Bancorp by 0.3% in the 3rd quarter. Geode Capital Management LLC now owns 152,590 shares of the financial services provider’s stock worth $5,198,000 after acquiring an additional 492 shares during the period. Barclays PLC grew its holdings in shares of Unity Bancorp by 93.1% during the 3rd quarter. Barclays PLC now owns 14,197 shares of the financial services provider’s stock worth $484,000 after purchasing an additional 6,846 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its position in shares of Unity Bancorp by 79.3% during the third quarter. JPMorgan Chase & Co. now owns 88,231 shares of the financial services provider’s stock valued at $3,005,000 after purchasing an additional 39,033 shares during the period. Institutional investors own 42.31% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on UNTY shares. StockNews.com cut Unity Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday, October 22nd. Piper Sandler reiterated an “overweight” rating and set a $54.00 target price (up from $53.00) on shares of Unity Bancorp in a research report on Thursday, January 16th. Finally, Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $55.00 target price (up previously from $51.00) on shares of Unity Bancorp in a research note on Thursday, January 16th.

Unity Bancorp Stock Performance

Shares of NASDAQ:UNTY opened at $47.76 on Thursday. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.16 and a quick ratio of 1.16. The business’s fifty day moving average price is $44.74 and its two-hundred day moving average price is $38.22. Unity Bancorp, Inc. has a fifty-two week low of $25.33 and a fifty-two week high of $48.45. The stock has a market capitalization of $477.12 million, a price-to-earnings ratio of 11.76 and a beta of 1.03.

Unity Bancorp (NASDAQ:UNTY) last posted its earnings results on Wednesday, January 15th. The financial services provider reported $1.13 earnings per share for the quarter, topping the consensus estimate of $1.08 by $0.05. Unity Bancorp had a net margin of 25.24% and a return on equity of 15.08%. As a group, analysts predict that Unity Bancorp, Inc. will post 4.83 EPS for the current fiscal year.

Unity Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th were issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 1.09%. The ex-dividend date was Friday, December 13th. Unity Bancorp’s payout ratio is 12.81%.

Insider Activity

In related news, Director Mark S. Brody sold 2,800 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $47.33, for a total transaction of $132,524.00. Following the transaction, the director now owns 70,002 shares in the company, valued at $3,313,194.66. This represents a 3.85 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Vincent Geraci sold 1,043 shares of the firm’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $44.98, for a total transaction of $46,914.14. Following the completion of the sale, the director now owns 8,250 shares of the company’s stock, valued at $371,085. The trade was a 11.22 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 10,810 shares of company stock worth $499,642. Insiders own 28.88% 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.