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Mary E. Gross, a director at Unity Bancorp Inc. (NASDAQ:UNTY), a $482 million market cap financial institution trading near its 52-week high of $49.03, executed a series of transactions involving the company’s common stock on January 28, according to a recent SEC filing. Gross sold 3,300 shares at an average price of $48.04, amounting to a total transaction value of $158,532. Following the sale, she holds 18,479 shares in direct ownership. The transaction comes as Unity Bancorp shows strong momentum, with the stock delivering a 63% return over the past year. InvestingPro analysis indicates the stock is currently trading above its Fair Value.
Additionally, Gross acquired 3,300 shares through an exercise of stock options at a price of $22.57 per share. This transaction was valued at $74,481. Her total beneficial ownership now stands at 26,654 shares, which includes restricted stock holdings and shares held in various accounts. The company has maintained consistent dividend payments for 12 consecutive years, with an 8.3% dividend growth in the last year. For more detailed insights and 11 additional ProTips about Unity Bancorp, visit InvestingPro.
In other recent news, Unity Bancorp has been the focus of recent analyst activity. Piper Sandler raised the stock target for Unity Bancorp to $54, maintaining an Overweight rating. This adjustment comes after Unity Bancorp’s robust Q4 performance, where the company reported a core EPS of $1.14, surpassing both Piper Sandler’s and consensus estimates. Unity Bancorp also experienced a net interest margin expansion of 21 basis points, reaching 4.37%, contributing to a $0.04 net interest income beat against the firm’s model.
In parallel, analysts at Keefe, Bruyette & Woods (KBW) also maintained a positive stance on Unity Bancorp, lifting its price target from $51.00 to $55.00 while reiterating an Outperform rating. This followed Unity Bancorp’s strong Q4 earnings, which exceeded expectations by $0.10 per share, largely due to a significant 22 basis points beat on net interest margin. As a result of the improved net interest income outlook, KBW analysts have raised their pre-provision net revenue estimates for Unity Bancorp by 6% for 2025 and 3% for 2026.
These recent developments highlight the ongoing financial strength and positive outlook for Unity Bancorp, as the company continues to demonstrate consistent growth and profitability.
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