ValuEngine Downgrades Unity Bancorp (UNTY) to Hold

Unity Bancorp (NASDAQ:UNTY) was downgraded by equities research analysts at ValuEngine from a “buy” rating to a “hold” rating in a research report issued on Friday.

Unity Bancorp (UNTY) opened at $20.55 on Friday. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.13 and a quick ratio of 1.13. The company has a market capitalization of $220.03, a P/E ratio of 16.08 and a beta of 0.46. Unity Bancorp has a 12 month low of $13.74 and a 12 month high of $20.90.

Unity Bancorp (NASDAQ:UNTY) last announced its quarterly earnings results on Thursday, October 19th. The financial services provider reported $0.35 EPS for the quarter. The business had revenue of $13.83 million for the quarter. Unity Bancorp had a return on equity of 12.21% and a net margin of 22.16%.

Institutional investors have recently made changes to their positions in the business. New York State Common Retirement Fund purchased a new position in Unity Bancorp in the 2nd quarter worth approximately $143,000. Teachers Advisors LLC purchased a new position in Unity Bancorp in the 2nd quarter worth approximately $234,000. California State Teachers Retirement System purchased a new position in Unity Bancorp in the 2nd quarter worth approximately $236,000. Schwab Charles Investment Management Inc. purchased a new position in Unity Bancorp in the 2nd quarter worth approximately $238,000. Finally, TIAA CREF Investment Management LLC purchased a new position in Unity Bancorp in the 2nd quarter worth approximately $346,000. 47.31% of the stock is currently owned by institutional investors and hedge funds.

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Unity Bancorp Company Profile

Unity Bancorp, Inc is a bank holding company that serves as a holding company for Unity Bank (the Bank). The Company’s primary business is ownership and supervision of the Bank. The Company, through the Bank, conducts a traditional and community-oriented commercial banking business and offers services, such as personal and business checking accounts, time deposits, money market accounts and regular savings accounts.

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