Unity Bancorp, Inc. (NASDAQ:UNTY) Short Interest Update

Unity Bancorp, Inc. (NASDAQ:UNTYGet Rating) was the target of a significant growth in short interest in the month of July. As of July 15th, there was short interest totalling 143,400 shares, a growth of 28.5% from the June 30th total of 111,600 shares. Based on an average daily volume of 64,200 shares, the short-interest ratio is currently 2.2 days. Currently, 2.0% of the shares of the company are short sold.

Unity Bancorp Trading Down 0.0 %

Shares of UNTY opened at $28.01 on Tuesday. Unity Bancorp has a 12-month low of $22.12 and a 12-month high of $31.37. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $293.96 million, a price-to-earnings ratio of 7.89 and a beta of 1.05. The stock’s 50-day moving average price is $27.47 and its 200 day moving average price is $28.14.

Unity Bancorp (NASDAQ:UNTYGet Rating) last issued its quarterly earnings results on Thursday, July 14th. The financial services provider reported $0.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.86 by $0.02. Unity Bancorp had a return on equity of 18.34% and a net margin of 38.44%. As a group, research analysts predict that Unity Bancorp will post 3.69 earnings per share for the current year.

Institutional Investors Weigh In On Unity Bancorp

A number of institutional investors have recently added to or reduced their stakes in UNTY. River Oaks Capital LLC acquired a new stake in Unity Bancorp during the fourth quarter valued at approximately $897,000. Fourthstone LLC boosted its holdings in Unity Bancorp by 45.0% during the first quarter. Fourthstone LLC now owns 481,355 shares of the financial services provider’s stock valued at $13,468,000 after purchasing an additional 149,358 shares in the last quarter. Pacific Ridge Capital Partners LLC boosted its holdings in Unity Bancorp by 33.3% during the fourth quarter. Pacific Ridge Capital Partners LLC now owns 241,812 shares of the financial services provider’s stock valued at $6,348,000 after purchasing an additional 60,450 shares in the last quarter. Gator Capital Management LLC acquired a new stake in Unity Bancorp during the fourth quarter valued at approximately $780,000. Finally, Banc Funds Co. LLC boosted its holdings in Unity Bancorp by 2.7% during the first quarter. Banc Funds Co. LLC now owns 791,370 shares of the financial services provider’s stock valued at $22,143,000 after purchasing an additional 21,047 shares in the last quarter. 49.77% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. StockNews.com lowered Unity Bancorp from a “buy” rating to a “hold” rating in a research note on Monday. Piper Sandler assumed coverage on Unity Bancorp in a research note on Thursday, April 7th. They set an “overweight” rating and a $33.00 price target on the stock.

Unity Bancorp Company Profile

(Get Rating)

Unity Bancorp, Inc operates as the holding company for Unity Bank that provides commercial and retail banking products and services to individuals, small and medium sized businesses, and professional communities. The company offers personal and business checking accounts, time deposits, money market accounts, and regular savings accounts, as well as noninterest and interest-bearing demand deposits.

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