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Unity Bancorp, Inc. (UNTY)

NasdaqGM - NasdaqGM Real Time Price. Currency in USD
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14.22+0.22 (+1.57%)
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Momentum

Previous Close14.00
Open13.96
Bid10.42 x 1000
Ask14.06 x 1300
Day's Range13.91 - 14.22
52 Week Range8.76 - 24.70
Volume27,953
Avg. Volume18,332
Market Cap151.853M
Beta (5Y Monthly)1.23
PE Ratio (TTM)6.94
EPS (TTM)2.05
Earnings DateNov 03, 2020 - Nov 09, 2020
Forward Dividend & Yield0.32 (2.29%)
Ex-Dividend DateJun 11, 2020
1y Target Est17.50
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.
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59% Est. Return
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  • GlobeNewswire

    Unity Bank’s Virtual Car Show Raises $5,000 for Family Promise of Hunterdon and Warren Counties

    CLINTON, N.J., Aug. 07, 2020 (GLOBE NEWSWIRE) -- Unity Bank has donated $5,000 to Family Promise of Hunterdon County and Family Promise of Warren County after holding its first virtual car show. The 14th Annual Cruisin’ Bob’s Classic Car Show, which for the prior 13 years had been held at the bank’s Clinton headquarters, was virtual due to the coronavirus pandemic. Unity Bank donated all proceeds from the virtual car show to the non-profits, in addition to donating volunteer time to coordinate the event, which raised $3,475 through the 65 car registrations received and sponsorships from local businesses. Unity Bank made an additional donation to bring the final fundraising total to $5,000.“Family Promise provides valuable assistance to people in need and their services are increasingly important during the current crisis,” said Unity Bank President & CEO James A. Hughes. “We appreciate the generous support from the car show registrants and sponsors. The car show has been a special event for the community for 14 years and we feel privileged to support the organization’s important work.”Unity featured registrants and their cars on its website at unitybank.com/benefitcarshow. The website will be live through the end of August. Car show sponsors included Unity Bank (host and sponsor), The Dallas Group of America, Fiddler’s Elbow Country Club, Tony O’Reilly & Associates, Market Masters Media Group, Van Doren Oil Company, Flemington Porsche Audi VW, MSI Plumbing & Remodeling, HRS Transport, Shift4 Payments, Old Mountain Studio, Round Valley Financial LLC, and Yankee Public Relations.Family Promise of Hunterdon County and Family Promise of Warren County provide services to both help overcome and prevent homelessness through the Interfaith Hospitality Network (IHN) – a network of congregations and volunteers who provide overnight/weekend shelter, home-cooked meals, and companionship to families who enter the program. Comprehensive case management, licensed counseling services and a donation program are also available.About Unity Bancorp, Inc. Unity Bancorp, Inc. (NASDAQ: UNTY), the parent company of Unity Bank, its primary and wholly owned subsidiary, is a financial services organization headquartered in Clinton, New Jersey. Unity Bank provides financial services to businesses and consumers at 19 branches throughout New Jersey and the Lehigh Valley, Pennsylvania. Unity Bank provides community-oriented commercial banking services, including deposit accounts, loans, online and mobile services. For more information, please visit unitybank.com or call 800-618-BANK (800-618-2265).MEDIA CONTACT: Fred Feiner Yankee Public Relations (908) 425-4878 fred@yankeepr.com

  • Unity Bancorp (UNTY) Beats Q2 Earnings and Revenue Estimates
    Zacks

    Unity Bancorp (UNTY) Beats Q2 Earnings and Revenue Estimates

    Unity Bancorp (UNTY) delivered earnings and revenue surprises of 20.51% and 4.18%, respectively, for the quarter ended June 2020. Do the numbers hold clues to what lies ahead for the stock?

  • GlobeNewswire

    Unity Bancorp Reports Quarterly Earnings of $5.2 Million

    CLINTON, N.J., July 23, 2020 (GLOBE NEWSWIRE) -- Unity Bancorp, Inc. (NASDAQ: UNTY), parent company of Unity Bank, reported net income of $5.2 million, or $0.47 per diluted share, for the quarter ended June 30, 2020, an 11.4 percent decrease compared to $5.8 million, or $0.53 per diluted share for the prior year’s second quarter.   For the six months ended June 30, 2020, Unity reported net income of $10.5 million, or $0.96 per diluted share, an 8.9 percent decrease compared to $11.6 million or $1.05 per diluted share for the prior year’s period. The decreases in earnings were primarily due to an increased provision for loan losses, necessitated by the COVID-19 pandemic and governmental responses. James A. Hughes, President and CEO, commented on the financial results: “We are living in unprecedented times and throughout this challenging environment, our team has worked diligently to keep our employees and customers safe.  During the quarter, we devoted significant resources to ensure every eligible Unity Bank small business customer who applied received a Paycheck Protection Program (PPP) loan.  In addition, we were successful in working with new customers to obtain PPP loans.  I am extremely proud of our efforts to assist our local small businesses in obtaining critical funds when they need it most.  Many of our customers were negatively impacted by mandatory business closures and restrictions.  In trying to do what is best for our customers, we proactively assisted them with loan deferrals which have terms of 3 or 6 months.  Despite the many challenges from the pandemic, our results for the quarter were still strong.  Our mortgage division had record loan volume and our fundamentals remain sound.  I am optimistic that the vast majority of our small businesses will survive and the economy will begin to recover in the second half of the year.  Our team of community bankers are here for our customers and we look forward to reporting our progress.”For the full version of the Company’s 2020 second quarter earnings release, including financial tables, please visit http://www.snl.com/IRW/News/101233.Unity Bancorp, Inc. is a financial service organization headquartered in Clinton, New Jersey, with approximately $1.9 billion in assets and $1.5 billion in deposits.  Unity Bank provides financial services to retail, corporate and small business customers through its 19 retail service centers located in Bergen, Hunterdon, Middlesex, Somerset, Union and Warren Counties in New Jersey and Northampton County in Pennsylvania.  For additional information about Unity, visit our website at www.unitybank.com, or call 800-618-BANK.This news release contains certain forward-looking statements, either expressed or implied, which are provided to assist the reader in understanding anticipated future financial performance.  These statements may be identified by use of the words “believe”, “expect”, “intend”, “anticipate”, “estimate”, “project” or similar expressions.  These statements involve certain risks, uncertainties, estimates and assumptions made by management, which are subject to factors beyond the company’s control and could impede its ability to achieve these goals.  These factors include those items included in our Annual Report on Form 10-K under the heading “Item IA-Risk Factors” as amended or supplemented by our subsequent filings with the SEC, as well as general economic conditions, trends in interest rates, the ability of our borrowers to repay their loans, our ability to manage and reduce the level of our nonperforming assets, results of regulatory exams, and the impact of COVID-19 on the Bank, its employees and customers, among other factors.This communication does not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.News Media & Financial Analyst Contact: Anthony Cossetti, EVP and CFO (908)713-4565