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Unity Bancorp (UNTY) Q3 Earnings: How Key Metrics Compare to Wall Street Estimates

Unity Bancorp (UNTY) reported $25.58 million in revenue for the quarter ended September 2023, representing a year-over-year increase of 2.9%. EPS of $0.97 for the same period compares to $0.93 a year ago.

The reported revenue represents a surprise of +2.12% over the Zacks Consensus Estimate of $25.05 million. With the consensus EPS estimate being $0.89, the EPS surprise was +8.99%.

While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.

Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.

Here is how Unity Bancorp performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

  • Net interest margin: 4% compared to the 3.9% average estimate based on two analysts.

  • Efficiency Ratio: 46.7% versus 46.5% estimated by two analysts on average.

  • Total Noninterest Income: $2.04 million compared to the $1.82 million average estimate based on two analysts.

  • Net Interest Income: $23.53 million versus the two-analyst average estimate of $23.23 million.

View all Key Company Metrics for Unity Bancorp here>>>

Shares of Unity Bancorp have returned -6.1% over the past month versus the Zacks S&P 500 composite's -2.4% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

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