The stock last traded at $18.80 which is a tad above the 50 day moving average of $17.69 and quite a bit above the 200 day moving average of $17.04. The 50 day moving average was up $1.11 and the 200 day average was up $1.76. (NASDAQ:UNTY) shares saw heavy trading volume with 19K shares changing hands by the end of trading on Wednesday. Volume was up 181.49% over the stocks average daily volume.
Investors are feeling more bearish on the company recently if you take into consideration the increase in short interest. The stock realized a rise in short interest between August 15, 2017 and August 31, 2017 of 5.96%. Short shares grew from 181,708 to 192,534 over that period. The short-interest ratio decreased to 31.0 and the percentage of shorted shares was 0.02% on August 31.
Here is a rundown on some insider market activity for Unity Bancorp, Inc. (NASDAQ:UNTY). President/CEO James A. Hughes bought 875 shares at an average price of $16.95 on Thu the 10th. The President/CEO now owns $1,705,272 of the stock as reported to the SEC.
These firms have modified their investment in UNTY. Ubs Group Ag reduced its position by selling 1,326 shares a decrease of 68.4%. Ubs Group Ag currently owns 613 shares valued at $11,000. The total value of its holdings decreased 66.7%. As of the end of the quarter Tower Research Capital LLC (trc) had sold 1,264 shares trimming its holdings by 88.2%. The value of the investment in Unity Bancorp, Inc. decreased from $24,000 to $3,000 a change of 87.5% quarter over quarter.
As of quarter end Blackrock Inc. had disposed of a total of 5,743 shares trimming its position 87.4%. The value of the investment in UNTY went from $111,000 to $14,000 a change of $97,000 quarter to quarter. Alliancebernstein L.P. cut its ownership by shedding 26,291 shares a decrease of 11.0% from 03/31/2017 to 06/30/2017. Alliancebernstein L.P. owns 212,938 shares with a value of $3,663,000. The value of the position overall is down by 9.7%.
The company is trading unchanged since yesterday’s close of 18.80. Unity Bancorp, Inc. announced a dividend for shareholders to be paid on Friday September 29th, 2017. The dividend payment will be $0.060 per share for the quarter which is $0.24 annualized. This dividend represents a yield of $1.29 which is the dividend as a percentage of the current share price. The ex-dividend date will be Thursday September 14th, 2017.
The company’s P/E ratio is 14.92 and market cap is 198.64M.
Unity Bancorp, Inc. is a bank holding company that serves as a holding company for Unity Bank (the Bank). The Business’s primary business is ownership and supervision of the Bank. The Company, through the Bank, conducts a traditional and community-oriented commercial banking business and offers services, including personal and business checking accounts, time deposits, money market accounts and regular savings accounts. The Company engages in lending activities and offers commercial, small business administration (SBA), consumer, mortgage, home equity and personal loans..