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CLINTON, N.J. - Unity Bancorp, Inc. (NASDAQ: UNTY), the parent company of Unity Bank, has announced the declaration of a cash dividend of $0.14 per common share, payable on June 20, 2025, to shareholders on record as of June 6, 2025. According to InvestingPro data, the company has maintained dividend payments for 13 consecutive years, with a current annual dividend yield of 1.28%. The financial institution, based in Clinton, New Jersey, currently holds assets totaling approximately $2.8 billion, with deposits amounting to $2.2 billion.
Unity Bank operates a network of branches serving retail, corporate, and small business clients across several counties in New Jersey and Northampton County in Pennsylvania. With a market capitalization of $433 million and a solid financial health rating from InvestingPro, the bank’s services include a range of financial offerings tailored to the needs of its customers.
The announcement of the dividend follows Unity Bancorp’s ongoing performance and is part of its commitment to providing value to its shareholders. Trading at a P/E ratio of 10.01 and demonstrating strong returns over the past year with a 60.5% price appreciation, the company has shown robust financial performance. InvestingPro analysis reveals 8 additional key insights about Unity Bancorp’s financial health and growth potential, available to subscribers.
While the press release includes forward-looking statements regarding the company’s anticipated financial performance, these statements are subject to various risks and uncertainties that could affect the company’s ability to achieve its goals. These factors include, but are not limited to, economic conditions, interest rate trends, borrowers’ ability to repay loans, and the management of nonperforming assets. Additionally, external events such as health crises or national disasters could have an impact on the bank, its employees, and its customers.
Investors and analysts interested in Unity Bancorp’s financial strategies and performance may refer to the company’s Annual Report on Form 10-K and subsequent filings with the SEC for a detailed analysis of risk factors and other considerations.
This news article is based on a press release statement from Unity Bancorp, Inc. and aims to provide shareholders and the public with key information regarding the dividend declaration.
In other recent news, Unity Bancorp reported its first-quarter 2025 earnings per share (EPS) of $1.13, with a core EPS of $1.15 after adjustments, which surpassed both analyst and consensus estimates by $0.02. The company exceeded revenue expectations by $0.06, driven by margin expansion and experiencing its strongest loan growth in over two years. Piper Sandler analyst Justin Crowley adjusted the price target for Unity Bancorp to $50.00 from $54.00 while maintaining an Overweight rating, reflecting confidence in the bank’s strong financial performance and robust capital base. Additionally, Unity Bancorp held its Annual Meeting of Shareholders, where three directors were elected, and the appointment of Wolf & Company P.C. as independent auditors was ratified.
In another development, Donald E. Souders, Jr. resigned from Unity Bancorp’s Board of Directors, effective February 26, 2025, with no disagreements cited in his decision. The bank has not announced a successor or any potential impact on governance. These recent events were disclosed in compliance with SEC regulations, ensuring transparency for investors. Unity Bancorp’s first-quarter performance and governance updates provide a comprehensive view of the company’s current standing.
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