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Donovan James Joseph, the Chief Lending Officer at Unity Bancorp Inc. (NASDAQ:UNTY), recently executed a significant stock sale. The timing is notable as Unity’s stock trades near its 52-week high of $50.36, having delivered an impressive 89% return over the past year. According to InvestingPro analysis, the stock currently appears slightly overvalued. According to the latest SEC filing, Joseph sold 1,080 shares of Unity Bancorp’s common stock on February 4, 2025, at a price of $48.8791 per share. This transaction amounted to a total of $52,789.
Following this sale, Joseph no longer holds any shares of Unity Bancorp’s common stock. However, he retains ownership of 4,975 restricted shares, which are managed through an account at Computershare and have upcoming vesting dates.
In other recent news, Unity Bancorp has been drawing attention from analysts due to its robust financial performance. Piper Sandler recently raised its price target for Unity Bancorp to $54, citing a strong fourth quarter in 2024. The company reported an earnings per share (EPS) of $1.13, surpassing both Piper Sandler’s estimate and the consensus. Unity Bancorp also experienced a net interest margin expansion and reported about 2% loan growth, fully funded by deposit growth.
Simultaneously, Keefe, Bruyette & Woods (KBW) maintained a positive stance on Unity Bancorp, raising its price target from $51.00 to $55.00. The adjustment comes after Unity Bancorp’s better-than-expected fourth-quarter earnings, largely due to a significant beat on net interest margin. KBW analysts have also increased their pre-provision net revenue estimates for the next two years, reflecting a positive outlook for the company.
These developments highlight Unity Bancorp’s consistent growth and profitability, with both Piper Sandler and KBW expressing confidence in the company’s continued performance. Both firms predict strong profitability and a favorable outlook for Unity Bancorp, contributing to the recent price target increases.
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