Unity Bancorp (NASDAQ:UNTY) Shares Pass Below Two Hundred Day Moving Average of $21.46

Unity Bancorp, Inc. (NASDAQ:UNTY) crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $21.46 and traded as low as $20.85. Unity Bancorp shares last traded at $20.85, with a volume of 4,230 shares.

UNTY has been the subject of a number of analyst reports. Zacks Investment Research cut Unity Bancorp from a “hold” rating to a “sell” rating in a report on Saturday, October 26th. ValuEngine raised Unity Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, January 18th.

The company has a market capitalization of $226.62 million, a price-to-earnings ratio of 9.74 and a beta of 0.73. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.18 and a quick ratio of 1.18. The business has a fifty day moving average price of $21.74 and a 200 day moving average price of $21.46.

Unity Bancorp (NASDAQ:UNTY) last issued its quarterly earnings results on Tuesday, January 21st. The financial services provider reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.53 by $0.02. The company had revenue of $17.16 million for the quarter, compared to analyst estimates of $16.90 million. Unity Bancorp had a return on equity of 15.84% and a net margin of 27.77%. Research analysts anticipate that Unity Bancorp, Inc. will post 2.2 earnings per share for the current year.

A number of hedge funds have recently made changes to their positions in the stock. Bank of America Corp DE raised its holdings in shares of Unity Bancorp by 9.3% in the 4th quarter. Bank of America Corp DE now owns 14,845 shares of the financial services provider’s stock worth $335,000 after purchasing an additional 1,257 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of Unity Bancorp by 2.2% in the 4th quarter. Bank of New York Mellon Corp now owns 33,966 shares of the financial services provider’s stock worth $766,000 after purchasing an additional 737 shares during the period. UBS Group AG raised its holdings in shares of Unity Bancorp by 49.9% in the 4th quarter. UBS Group AG now owns 11,713 shares of the financial services provider’s stock worth $264,000 after purchasing an additional 3,900 shares during the period. Renaissance Technologies LLC raised its holdings in shares of Unity Bancorp by 23.7% in the 4th quarter. Renaissance Technologies LLC now owns 54,301 shares of the financial services provider’s stock worth $1,226,000 after purchasing an additional 10,401 shares during the period. Finally, Barclays PLC raised its holdings in shares of Unity Bancorp by 97.8% in the 4th quarter. Barclays PLC now owns 7,998 shares of the financial services provider’s stock worth $181,000 after purchasing an additional 3,954 shares during the period. 50.70% of the stock is owned by institutional investors and hedge funds.

About Unity Bancorp (NASDAQ:UNTY)

Unity Bancorp, Inc operates as the holding company for Unity Bank that provides a range of 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.

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