Hsbc Holdings PLC Increases Stake in Unity Bancorp, Inc. $UNTY

Hsbc Holdings PLC increased its position in Unity Bancorp, Inc. (NASDAQ:UNTY) by 20.8% in the 1st quarter, HoldingsChannel reports. The fund owned 5,761 shares of the financial services provider’s stock after purchasing an additional 993 shares during the period. Hsbc Holdings PLC’s holdings in Unity Bancorp were worth $236,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. CWM LLC increased its holdings in Unity Bancorp by 122.5% in the 1st quarter. CWM LLC now owns 612 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 337 shares during the last quarter. Public Employees Retirement System of Ohio bought a new position in Unity Bancorp in the 4th quarter worth about $33,000. Whipplewood Advisors LLC boosted its stake in Unity Bancorp by 11,000.0% in the 1st quarter. Whipplewood Advisors LLC now owns 1,221 shares of the financial services provider’s stock worth $50,000 after purchasing an additional 1,210 shares during the period. GAMMA Investing LLC boosted its stake in Unity Bancorp by 11,262.5% in the 1st quarter. GAMMA Investing LLC now owns 2,727 shares of the financial services provider’s stock worth $111,000 after purchasing an additional 2,703 shares during the period. Finally, Virtus Investment Advisers Inc. bought a new position in Unity Bancorp in the 4th quarter worth about $148,000. Hedge funds and other institutional investors own 42.31% of the company’s stock.

Unity Bancorp Stock Performance

Shares of UNTY opened at $52.24 on Friday. The company has a market cap of $524.12 million, a PE ratio of 10.57 and a beta of 0.79. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 1.21. The stock has a 50-day moving average price of $50.65 and a 200-day moving average price of $45.76. Unity Bancorp, Inc. has a 12-month low of $31.44 and a 12-month high of $54.64.

Unity Bancorp (NASDAQ:UNTY) last released its earnings results on Tuesday, July 15th. The financial services provider reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates of $1.17 by $0.03. The company had revenue of $34.37 million during the quarter, compared to the consensus estimate of $30.30 million. Unity Bancorp had a return on equity of 15.34% and a net margin of 28.72%. As a group, equities analysts forecast that Unity Bancorp, Inc. will post 4.83 earnings per share for the current fiscal year.

Unity Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 19th. Shareholders of record on Friday, September 5th will be paid a $0.15 dividend. This is an increase from Unity Bancorp’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend is Friday, September 5th. This represents a $0.60 dividend on an annualized basis and a yield of 1.1%. Unity Bancorp’s payout ratio is presently 12.15%.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Wall Street Zen downgraded Unity Bancorp from a “buy” rating to a “hold” rating in a research note on Saturday, August 30th. Keefe, Bruyette & Woods raised their target price on Unity Bancorp from $55.00 to $63.00 and gave the stock an “outperform” rating in a research note on Friday, July 18th. Two analysts have rated the stock with a Buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $56.50.

Unity Bancorp Company 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.