UNTY - Unity Bancorp, Inc.

NasdaqGM - NasdaqGM Real Time Price. Currency in USD
13.14
+0.27 (+2.10%)
At close: 4:00PM EDT

13.14 0.00 (0.00%)
After hours: 4:00PM EDT

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Hammer

Hammer

Performance Outlook
  • Short Term
    2W - 6W
  • Mid Term
    6W - 9M
  • Long Term
    9M+
Previous Close12.87
Open12.69
Bid12.72 x 1100
Ask13.14 x 900
Day's Range12.36 - 13.14
52 Week Range8.76 - 24.70
Volume11,150
Avg. Volume22,514
Market Cap143.007M
Beta (5Y Monthly)1.31
PE Ratio (TTM)6.23
EPS (TTM)2.11
Earnings DateJul 16, 2020 - Jul 20, 2020
Forward Dividend & Yield0.32 (2.49%)
Ex-Dividend DateJun 11, 2020
1y Target Est18.17
Fair Value is the appropriate price for the shares of a company, based on its earnings and growth rate also interpreted as when P/E Ratio = Growth Rate. Estimated return represents the projected annual return you might expect after purchasing shares in the company and holding them over the default time horizon of 5 years, based on the EPS growth rate that we have projected.
Fair Value
XX.XX
Undervalued
62% Est. Return
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  • Earnings Preview: Unity Bancorp (UNTY) Q2 Earnings Expected to Decline
    Zacks

    Earnings Preview: Unity Bancorp (UNTY) Q2 Earnings Expected to Decline

    Unity Bancorp (UNTY) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

  • GlobeNewswire

    Unity Bank’s 14th Annual Classic Car Show Benefitting Family Promise Will Be Virtual in 2020

    Unity Bank is seeking sponsors and classic car owners for the 14th Annual Cruisin’ Bob’s Classic Car Show, which for the last 13 years has been held at the bank’s Clinton headquarters, but will be virtual this year due to the coronavirus pandemic. All proceeds from the car show will benefit Family Promise of Hunterdon County and Family Promise of Warren County. “For the last 13 years, the car show has been a fun way to support Family Promise’s valuable work in the community, and they need our support more than ever this year,” said Unity Bank President & CEO James A. Hughes.

  • Unity Bancorp, Inc. (UNTY): Hedge Fund Sentiment Unchanged
    Insider Monkey

    Unity Bancorp, Inc. (UNTY): Hedge Fund Sentiment Unchanged

    In this article you are going to find out whether hedge funds think Unity Bancorp, Inc. (NASDAQ:UNTY) is a good investment right now. We like to check what the smart money thinks first before doing extensive research on a given stock. Although there have been several high profile failed hedge fund picks, the consensus picks […]

  • Did Unity Bancorp's (NASDAQ:UNTY) Share Price Deserve to Gain 68%?
    Simply Wall St.

    Did Unity Bancorp's (NASDAQ:UNTY) Share Price Deserve to Gain 68%?

    While Unity Bancorp, Inc. (NASDAQ:UNTY) shareholders are probably generally happy, the stock hasn't had particularly...

  • GlobeNewswire

    Unity Bank is Top Ranked New Jersey Community Bank on American Banker Magazine’s Top 200 List

    Unity Bancorp, Inc. (UNTY), the parent company of Unity Bank, was the top ranked New Jersey community bank on the recently published American Banker magazine list of the Top 200 Publicly Traded Community Banks with less than $2 billion in assets. “We are honored to be the top ranked community bank in New Jersey on the American Banker list as it illustrates Unity’s continued financial strength and performance,” said Unity Bank President & CEO James A. Hughes.

  • 3 Stocks Flashing Signs of Strong Insider Buying
    TipRanks

    3 Stocks Flashing Signs of Strong Insider Buying

    Are we moving towards a full market recovery? The waters are still murky, and thus, the trajectory of stocks remains somewhat unclear. Therefore, the pros on Wall Street suggest selecting an investing strategy that regardless of the broader market’s movements, will yield returns. One such approach involves following those on the inside.These insiders are a company’s board members and corporate officers who are held accountable to shareholders. Given the nature of their roles within a company, they know the ins and outs of the business, and have access to information that could spur share price movements before the general public. To make it fair for everyday investors, corporate insiders have to disclose any purchases or sales. There could be several reasons to sell shares, but there’s usually only one reason insiders buy, so a purchase could be a signal to investors that gains are on the horizon.Bearing this in mind, we used the Insiders’ Hot Stocks tool from TipRanks to pinpoint three stocks insiders have been snapping up recently. The platform also revealed that each ticker has received Buy ratings from Wall Street analysts. Let’s jump right in.Boyd Gaming (BYD)Owning and operating 29 gaming properties in ten states, Boyd Gaming is one of the largest casino entertainment companies in the U.S. While the bears might point out that 2020 hasn’t been kind to this name, the insider sentiment is swinging strongly positive.On the first of this month, executive chairman William S. Boyd, pulled the trigger on 100,000 shares. As for the value of the purchase, it came in at $1,607,000.BYD has scored fans within the analyst community as well. Writing for Deutsche Bank, analyst Luis Chinchilla tells clients “the current environment has provided investors the opportunity to own Boyd Gaming, a high-quality credit in our view, at attractive pricing based on our expectations.” He added, “From a fundamental perspective, we like this credit owing to (1) the company's ownership of an attractive portfolio of properties in the regional markets; and (2) sufficient liquidity to navigate the challenging environment.”In a recent call with investors, management stated that all of its properties are currently closed and after factoring in CAPEX, interest expenses, rent and OPEX, the company is burning through about $60 million per month. Having said that, its liquidity of $741 million, not including the $90 million worth of cage cash, should be enough to support its operations for the next twelve months, in Chinchilla’s opinion.Looking forward, Chinchilla said, “With regard to our expectations, we currently forecast total leverage to peak at ~13.7x in 2020. We anticipate that the company will pay down the revolver before year-end 2020. For 2021, we expect total leverage to decrease to ~6.3x.”It should be unsurprising, then, that Chinchilla upgraded his rating to a Buy. Not to mention the $22 price target puts the upside potential at 28%.What does the rest of the Street have to say? As it turns out, other analysts are generally on the same page. 9 Buys and 2 Holds add up to a Strong Buy consensus rating. Given the $24.60 average price target, shares could rise 48% in the next year. (See Boyd Gaming stock analysis on TipRanks)Honeywell International (HON)Leading the way for more than 100 years, Honeywell is one of the premier industrial companies, with it boasting four operational segments including aerospace, home and building technologies, performance materials and technologies, and safety and productivity solutions. Despite its recent rough going, HON insiders are betting on a turnaround.On April 24, not one, not two, but ten different company Directors made informative buys in the amount of $57,615. Following the purchases, the Directors saw their holdings increase by 429 shares.Credit Suisse analyst John Walsh appears to echo the Directors’ sentiment. He acknowledges that it could take a few years to see a muted recovery in the aerospace market, but that doesn’t mean investors should write HON off.“...we see value in HON based on their history of operational execution and strong liquidity position. In our opinion, HON should be among the first industrial cos to restart share repo or deploy capital for M&A. HON also offers a way to participate in unexpected Aerospace upside, as their portfolio will face less parked aircraft risk without commercial engines,” Walsh explained.Additionally, HON is preparing for the worst. To this end, management stated that it’s planning to reduce fixed costs by $1.1-$1.3 billion in 2020 by trimming discretionary spending, limiting hiring and reducing incentive payouts. It should be noted that 30-40% of these cuts will only be short-term.Walsh added, “Compared to 2008 crisis, we think HON is better prepared to weather the downturn this time. HON’s balance sheet is less levered at 0.8x (net debt) versus 1.2X in Q4 2008. Honeywell’s pension asset allocation has resulted in overfunding despite recent market volatility. HON also refinanced €1 billion of debt and raised additional $6 billion through 2-year DD-TL. This leaves the company with over $20 billion of liquidity.”Sure, some investors have expressed concern regarding the rate in which demand is recovering in China and sales declines in the next quarter, but Walsh argues that this should be partially offset by HON’s defense segment.Taking all of this into consideration, Walsh stayed with the bulls. Along with his Outperform call, he bumped up the price target from $148 to $158, indicating 18% upside potential. (To watch Walsh’s track record, click here)As for the rest of the Street, the bulls have it. HON’s Moderate Buy consensus rating breaks down into 9 Buys and 4 Holds received in the last three months. The $149.08 average price target suggests shares could surge 11.5% in the next year. (See Honeywell stock analysis on TipRanks)Unity Bancorp, Inc. (UNTY)Through its community-oriented commercial bank, Unity Bank, holding company Unity Bancorp is able to provide a diverse range of accounts as well as a complete portfolio of business products and online services. Shares have already gained 43% in the last month, but judging by the insider activity, even more growth could be in store.Digging deeper into the insider activity, a total of three informative buys were made since April 22. The first of these purchases was made by Director Mark Brody, who spent $3,463 to acquire 295 shares. Making our way to the larger purchases, Robert Dallas and David Dallas, Directors and over 10% owners of UNTY, snapped up 20,000 shares, spending $305,550 in the process.On the analyst front, Boenning & Scattergood’s Erik Zwick has also been singing UNTY’s praises. Part of the excitement surrounding this name is related to its most recent quarterly results. For the first quarter of 2020, EPS landed at $0.50, versus $0.52 in the prior-year quarter. While this figure fell slightly short of the consensus estimate, it exceeded Zwick’s $0.46 call.In addition, its NIM expanded by 4 basis points quarter-over-quarter to 3.92% as the company’s liability sensitive balance sheet is ideally positioned to absorb recent Fed Funds rate cuts, according to Zwick. Core fee revenue also flew past the analyst’s estimate thanks to gains on the sale of mortgage loans.It should be noted that non-accrual loans and net charge-offs could rise during the second half of the year with the fading of deferral periods and government stimulus impacts. However, Zwick thinks that “Unity is a conservative underwriter and is closely working with its borrowers, which should help limit the magnitude of losses.”The analyst added, “The company operates a traditional, commercial-focused community bank model that we believe should be attractive to risk averse investors who prefer steady growth and a focus on efficiency. Combined with an attractive footprint, above-peer profitability, strong capital and reserves and the ability to grow tangible book value 11%-plus annually, we believe the risk/reward profile is favorable today with shares trading at a discount to peers on a P/TBV basis (0.84x vs. 0.90x).”To this end, Zwick maintained his Outperform rating and $21 price target. Should this target be met, a twelve-month gain of 45% could be in the cards. (To watch Zwick’s track record, click here)Looking at the consensus breakdown, it has been relatively quiet when it comes to other analyst activity. Only one other analyst has published a review recently, but it was also bullish, making the consensus rating a Moderate Buy. At $19, the average price target implies 41% upside potential. (See Unity Bancorp stock analysis on TipRanks)To find good ideas for stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights.

  • GlobeNewswire

    Unity Bancorp Announces New Chief Financial Officer

    CLINTON, N.J., May 05, 2020 -- Unity Bancorp, Inc. (NASDAQ: UNTY), parent company of Unity Bank, announced today that industry veteran Anthony L. Cossetti will be joining the.

  • GlobeNewswire

    Unity Bank Provides $130 Million in PPP Loans, Saving Thousands of Jobs Through SBA COVID-19 Lending Program

    Gary Shiman, Co-Owner and Executive Vice President of Bellari Home Remodeling of Branchburg, represents one of the nearly 1,000 businesses that will receive more than $130 million in Unity Bank loans through the Small Business Administration (SBA) Paycheck Protection Program (PPP), the special funding initiative designed to help small businesses survive the coronavirus (COVID-19) pandemic. “I consider myself very lucky to have been a customer of Unity Bank when this crisis struck because the government placed banks in a very difficult position by asking them to be responsible for getting PPP funds in the hands of businesses,” said Shiman.

  • GlobeNewswire

    Unity Bancorp Declares Cash Dividend

    CLINTON, N.J., April 23, 2020 -- Unity Bancorp, Inc. (NASDAQ: UNTY), parent company of Unity Bank, announced that its Board of Directors has declared a cash dividend of $0.08.

  • Here's What Analysts Are Forecasting For Unity Bancorp, Inc. (NASDAQ:UNTY) After Its First-Quarter Results
    Simply Wall St.

    Here's What Analysts Are Forecasting For Unity Bancorp, Inc. (NASDAQ:UNTY) After Its First-Quarter Results

    A week ago, Unity Bancorp, Inc. (NASDAQ:UNTY) came out with a strong set of quarterly numbers that could potentially...

  • GlobeNewswire

    Unity Bancorp Reports Quarterly Earnings of $5.4 Million

    Unity Bancorp, Inc. (UNTY), parent company of Unity Bank, reported net income of $5.4 million, or $0.49 per diluted share, for the quarter ended March 31, 2020, a 6.5% decrease compared to the $5.7 million, or $0.52 per diluted share reported for the prior year’s first quarter, primarily due to an increase of $1.0 million in our provision for loan losses, necessitated by impacts on the loan portfolio caused by COVID-19. Virtually all businesses have been impacted by the mandated business closures and restrictions. Thankfully banking is an essential business and we are working very hard helping our customers with emergency funding, loan deferrals and assistance with the Paycheck Protection Program (PPP).

  • How Does Unity Bancorp, Inc. (NASDAQ:UNTY) Fare As A Dividend Stock?
    Simply Wall St.

    How Does Unity Bancorp, Inc. (NASDAQ:UNTY) Fare As A Dividend Stock?

    Is Unity Bancorp, Inc. (NASDAQ:UNTY) a good dividend stock? How can we tell? Dividend paying companies with growing...

  • GlobeNewswire

    Unity Bank Offering SBA Loans for Businesses Coping with COVID-19

    In response to the coronavirus (COVID-19) pandemic, Unity Bank will be offering its customers the Small Business Administration (SBA) Paycheck Protection Program, a loan designed to provide a direct incentive for small businesses to keep their workers on the payroll. SBA will forgive loans if all employees are kept on the payroll for eight weeks and the funds are used for payroll, rent, mortgage interest, or utilities. Business owners can apply for the PPP beginning Friday, April 3rd and loans will be available through June 30, 2020.

  • GlobeNewswire

    Unity Bancorp, Inc. Announces Changes to the Manner of Holding the Annual Meeting of Shareholders to be Held on April 23, 2020

    Unity Bancorp, Inc. (NASDAQ “UNTY”) announced today that due to the public health impact of the coronavirus outbreak (COVID-19), to support the health and well-being of our partners and shareholders, and to ensure compliance with all governmental directives to avoid group meetings and encourage social distancing, that the manner of holding of the Company’s 2020 Annual Meeting of Shareholders has been changed. The Annual Meeting will now be held on Thursday, April 23, 2020 at 9:30 a.m. (the same date and time as indicated in the Company’s original proxy statement). As described in the proxy materials for the Annual Meeting previously made available, you are entitled to participate in the Annual Meeting if you were a shareholder as of the close of business on March 2, 2020, the record date, or hold a legal proxy for the meeting provided by your bank, broker, or nominee.

  • 6 Banks Trading With Low Price-Sales Ratios
    GuruFocus.com

    6 Banks Trading With Low Price-Sales Ratios

    Credicorp makes the list Continue reading...

  • How Does Unity Bancorp's (NASDAQ:UNTY) P/E Compare To Its Industry, After The Share Price Drop?
    Simply Wall St.

    How Does Unity Bancorp's (NASDAQ:UNTY) P/E Compare To Its Industry, After The Share Price Drop?

    To the annoyance of some shareholders, Unity Bancorp (NASDAQ:UNTY) shares are down a considerable 49% in the last...

  • GlobeNewswire

    Unity Bank is the Only NJ Bank to be Named One of the 2020 Best Places to Work in New Jersey

    Unity Bank has been named one of the 2020 Best Places to Work in New Jersey – the only bank in New Jersey to make the prestigious list. It is the fourth year in a row that Unity has been honored by the survey and awards program, which identifies, recognizes and honors the top places of employment in New Jersey that benefit the state's economy, workforce and businesses. “It is an honor to be named one of the Best Places to Work in New Jersey for the fourth year in a row and, particularly inspiring this year, as we are the only New Jersey bank to earn the honor,” said Unity Bank President & CEO James A. Hughes.

  • Unity Bancorp, Inc. (NASDAQ:UNTY) Looks Interesting, And It's About To Pay A Dividend
    Simply Wall St.

    Unity Bancorp, Inc. (NASDAQ:UNTY) Looks Interesting, And It's About To Pay A Dividend

    Unity Bancorp, Inc. (NASDAQ:UNTY) is about to trade ex-dividend in the next 2 days. You can purchase shares before the...

  • GlobeNewswire

    Unity Bancorp Issues Corrected Earnings Release; Corrections to Certain Capital Ratios

    CLINTON, N.J., Feb. 21, 2020 -- Unity Bancorp, Inc. (NASDAQ: UNTY), parent company of Unity Bank, is issuing this corrected press release to revise the Common Equity Tier 1.

  • GlobeNewswire

    Unity Bancorp Reports Quarterly Earnings of $6.1 Million and Full Year Earnings of $23.7 Million

    CLINTON, N.J., Jan. 21, 2020 -- Unity Bancorp, Inc. (NASDAQ: UNTY), parent company of Unity Bank, reported net income of $6.1 million, or $0.55 per diluted share, for the.

  • Unity Bancorp (UNTY) Q4 Earnings Preview: What's in the Cards?
    Zacks

    Unity Bancorp (UNTY) Q4 Earnings Preview: What's in the Cards?

    Unity Bancorp (UNTY) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

  • Should You Buy Unity Bancorp, Inc. (UNTY)?
    Insider Monkey

    Should You Buy Unity Bancorp, Inc. (UNTY)?

    At Insider Monkey, we pore over the filings of nearly 750 top investment firms every quarter, a process we have now completed for the latest reporting period. The data we've gathered as a result gives us access to a wealth of collective knowledge based on these firms' portfolio holdings as of September 30. In this […]

  • Do You Like Unity Bancorp, Inc. (NASDAQ:UNTY) At This P/E Ratio?
    Simply Wall St.

    Do You Like Unity Bancorp, Inc. (NASDAQ:UNTY) At This P/E Ratio?

    This article is for investors who would like to improve their understanding of price to earnings ratios (P/E ratios...

  • Is Unity Bancorp (UNTY) a Great Stock for Value Investors?
    Zacks

    Is Unity Bancorp (UNTY) a Great Stock for Value Investors?

    Let's see if Unity Bancorp, Inc. (UNTY) stock is a good choice for value-oriented investors right now, or if investors subscribing to this methodology should look elsewhere for top picks.

  • The Unity Bancorp (NASDAQ:UNTY) Share Price Is Up 165% And Shareholders Are Boasting About It
    Simply Wall St.

    The Unity Bancorp (NASDAQ:UNTY) Share Price Is Up 165% And Shareholders Are Boasting About It

    When you buy shares in a company, it's worth keeping in mind the possibility that it could fail, and you could lose...