SG Americas Securities LLC Acquires Shares of 3,966 Unity Bancorp, Inc. (NASDAQ:UNTY)

SG Americas Securities LLC bought a new stake in Unity Bancorp, Inc. (NASDAQ:UNTY) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 3,966 shares of the financial services provider’s stock, valued at approximately $117,000.

Several other institutional investors also recently modified their holdings of the business. Northern Trust Corp grew its position in shares of Unity Bancorp by 0.7% during the 3rd quarter. Northern Trust Corp now owns 62,396 shares of the financial services provider’s stock worth $1,462,000 after buying an additional 424 shares during the period. Royal Bank of Canada grew its position in shares of Unity Bancorp by 8.1% during the 3rd quarter. Royal Bank of Canada now owns 5,986 shares of the financial services provider’s stock worth $150,000 after buying an additional 447 shares during the period. Morgan Stanley grew its position in shares of Unity Bancorp by 4.5% during the 4th quarter. Morgan Stanley now owns 11,482 shares of the financial services provider’s stock worth $314,000 after buying an additional 491 shares during the period. American Century Companies Inc. grew its position in shares of Unity Bancorp by 1.2% during the 4th quarter. American Century Companies Inc. now owns 44,770 shares of the financial services provider’s stock worth $1,224,000 after buying an additional 516 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Unity Bancorp by 3.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 18,432 shares of the financial services provider’s stock worth $504,000 after buying an additional 573 shares during the period. Institutional investors and hedge funds own 42.31% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com cut shares of Unity Bancorp from a “buy” rating to a “hold” rating in a report on Friday, February 2nd.

Insider Activity at Unity Bancorp

In related news, CEO James A. Hughes sold 1,156 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $27.28, for a total transaction of $31,535.68. Following the completion of the transaction, the chief executive officer now owns 137,735 shares in the company, valued at $3,757,410.80. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CEO James A. Hughes sold 1,156 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $27.28, for a total value of $31,535.68. Following the completion of the transaction, the chief executive officer now owns 137,735 shares in the company, valued at $3,757,410.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Mary E. Gross sold 1,344 shares of the company’s stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $30.00, for a total transaction of $40,320.00. Following the completion of the transaction, the director now owns 17,176 shares of the company’s stock, valued at approximately $515,280. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,334 shares of company stock worth $157,046. 28.88% of the stock is currently owned by company insiders.

Unity Bancorp Stock Up 0.4 %

Shares of NASDAQ UNTY opened at $26.40 on Friday. The stock has a market cap of $267.65 million, a P/E ratio of 6.93 and a beta of 1.07. The firm has a 50 day moving average price of $27.22 and a 200 day moving average price of $26.83. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.21 and a current ratio of 1.21. Unity Bancorp, Inc. has a 52-week low of $20.01 and a 52-week high of $30.70.

Unity Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were issued a dividend of $0.13 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.52 dividend on an annualized basis and a yield of 1.97%. This is a boost from Unity Bancorp’s previous quarterly dividend of $0.12. Unity Bancorp’s payout ratio is currently 13.65%.

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.