Unity Bancorp (UNTY) Reports Q2 Earnings: What Key Metrics Have to Say
For the quarter ended June 2023, Unity Bancorp (UNTY) reported revenue of $25.64 million, up 4.6% over the same period last year. EPS came in at $0.95, compared to $0.88 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $23.75 million, representing a surprise of +7.97%. The company delivered an EPS surprise of +10.47%, with the consensus EPS estimate being $0.86.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
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: 4.04% versus the two-analyst average estimate of 3.95%.
Efficiency Ratio: 45.54% versus 45.25% estimated by two analysts on average.
Total Noninterest Income: $2.12 million versus the two-analyst average estimate of $1.67 million.
Net Interest Income: $23.52 million compared to the $23.20 million average estimate based on two analysts.
View all Key Company Metrics for Unity Bancorp here>>>
Shares of Unity Bancorp have returned -3.3% over the past month versus the Zacks S&P 500 composite's +3.4% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.
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Unity Bancorp, Inc. (UNTY) : Free Stock Analysis Report
