Unity Bancorp, Inc. operates as the holding company for Unity Bank that provides commercial and retail banking products and services to individuals, small and medium sized businesses, and professional communities. The company offers personal and business checking accounts, time deposits, money market accounts, and regular savings accounts, as well as noninterest and interest-bearing demand deposits. It also provides small business administration loans; commercial loans; and residential mortgage and consumer loans, including residential real estate, home equity lines and loans, and consumer construction lines, as well as personal loans. As of December 31, 2020, the company offered its services through the Internet and nineteen branch offices located in Bergen, Hunterdon, Middlesex, Somerset, Union, and Warren counties in New Jersey, as well as Northampton County, Pennsylvania. Unity Bancorp, Inc. was incorporated in 1991 and is headquartered in Clinton, New Jersey.
IPO Year:
Exchange: NASDAQ
Website: unitybank.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 12/15/2022 | $32.00 | Buy | Janney |
| 4/7/2022 | $33.00 | Overweight | Piper Sandler |
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CLINTON, N.J., Nov. 21, 2024 (GLOBE NEWSWIRE) -- Unity Bancorp, Inc. (NASDAQ:UNTY), parent company of Unity Bank, announced that its Board of Directors has declared a cash dividend of $0.13 per common share. Such dividend is payable on December 31, 2024, to shareholders of record as of December 13, 2024. Unity Bancorp, Inc. is a financial services organization headquartered in Clinton, New Jersey, with approximately $2.6 billion in assets and $2.0 billion in deposits. Unity Bank, the Company's wholly owned subsidiary, provides financial services to retail, corporate and small business customers through its robust branch network located in Bergen, Hunterdon, Middlesex, Morris, Ocean, Somer
CLINTON, N.J., Oct. 11, 2024 (GLOBE NEWSWIRE) -- Unity Bancorp, Inc. (NASDAQ:UNTY), parent company of Unity Bank, reported net income of $10.9 million, or $1.07 per diluted share, for the quarter ended September 30, 2024, compared to net income of $9.5 million, or $0.93 per diluted share for the quarter ended June 30, 2024. This represents a 15.3% increase in net income and a 15.1% increase in net income per diluted share. For the nine months ended September 30, 2024, Unity Bancorp reported net income of $29.9 million, or $2.94 per diluted share, compared to net income of $29.9 million, or $2.88 per diluted share, for the nine months ended September 30, 2023. This represents no change in n
CLINTON, N.J., Sept. 26, 2024 (GLOBE NEWSWIRE) -- Unity Bank is proud to announce that five local businesses have each been awarded $10,000 grants through the Federal Home Loan Bank of New York (FHLB) Small Business Recovery Grant (SBRG) Program. These grants aim to help businesses overcome challenges posed by inflation, supply chain constraints, rising energy costs, and a volatile rate environment. As a committed member of FHLB, Unity Bank continues to champion local businesses, providing vital support as they navigate today's economic challenges. By leveraging their SBRG Program, Unity Bank granted $10,000 each to five businesses: Isaac Simon Realty LLC – Child Care Services, Br
CLINTON, N.J., Sept. 12, 2024 (GLOBE NEWSWIRE) -- Unity Bank is inviting classic car owners and local businesses to participate in the 18th Annual Crusin' Bob's Classic Car Show, which will be held at the bank's Clinton headquarters, 64 Old Highway 22 in Clinton, on Sunday, October 27th, from 10:00 a.m. to 2:00 p.m. The event will benefit Family Promise of Warren County and Family Promise of Hunterdon County, with all proceeds going directly to these non-profits. Unity Bank employees also volunteer their time to coordinate and support the event. "The annual car show is a highlight for the community and our employees alike. It's a fantastic opportunity to bring people together for a great
CLINTON, N.J., Aug. 22, 2024 (GLOBE NEWSWIRE) -- Unity Bancorp, Inc. (NASDAQ:UNTY), Unity Bank's parent company, has once again been recognized in the prestigious Top 25 Banks ranking by Bank Director magazine. Unity Bank is listed as the 13th best publicly traded bank in the nation and is 5th in Return on Assets (ROA) among banks with less than $5 billion in assets. This year's rankings reflect Unity Bank's continued progress, improving from its 2022 position of 21st overall. Unity Bank's total assets have increased to approximately $2.6 billion, with deposits reaching $2.0 billion. The Top 25 Banks list, published annually since 2017, assesses banks based on their performance over the
CLINTON, N.J., Aug. 15, 2024 (GLOBE NEWSWIRE) -- Unity Bancorp, Inc. (NASDAQ:UNTY), parent company of Unity Bank, announced that its Board of Directors has declared a cash dividend of $0.13 per common share. Such dividend is payable on September 20, 2024, to shareholders of record as of September 6, 2024. Unity Bancorp, Inc. is a financial services organization headquartered in Clinton, New Jersey, with approximately $2.6 billion in assets and $2.0 billion in deposits. Unity Bank, the Company's wholly owned subsidiary, provides financial services to retail, corporate and small business customers through its robust branch network located in Bergen, Hunterdon, Middlesex, Morris, Ocean, Some
CLINTON, N.J., Aug. 01, 2024 (GLOBE NEWSWIRE) -- Unity Bancorp, Inc. (NASDAQ:UNTY), parent company of Unity Bank, announced that its Board of Directors has approved a new Share Repurchase Program. Under this new program, the Company may repurchase up to 500,000 shares, or approximately 5.0% of its outstanding common stock. The timing and amount of any repurchases will depend on a number of factors, including the availability of stock, general market conditions, the trading price of the stock, alternative uses for capital, and the Company's financial performance. James A. Hughes, President and CEO, remarked, "We are pleased to announce the approval of our new share repurchase plan. We rema
CLINTON, N.J., July 12, 2024 (GLOBE NEWSWIRE) -- Unity Bancorp, Inc. (NASDAQ:UNTY), parent company of Unity Bank, reported net income of $9.5 million, or $0.93 per diluted share, for the quarter ended June 30, 2024, compared to net income of $9.6 million, or $0.93 per diluted share for the quarter ended March 31, 2024. This represents a 1.4% decrease in net income and no change in net income per diluted share. For the six months ended June 30, 2024, Unity Bancorp reported net income of $19.0 million, or $1.86 per diluted share, compared to net income of $20.0 million, or $1.91 per diluted share, for the six months ended June 30, 2023. This represents a 4.7% decrease in net income and a 2.6
CLINTON, N.J., May 16, 2024 (GLOBE NEWSWIRE) -- Unity Bancorp, Inc. (NASDAQ:UNTY), parent company of Unity Bank, announced that its Board of Directors has declared a cash dividend of $0.13 per common share. Such dividend is payable on June 21, 2024, to shareholders of record as of June 7, 2024. Unity Bancorp, Inc. is a financial services organization headquartered in Clinton, New Jersey, with approximately $2.6 billion in assets and $2.0 billion in deposits. Unity Bank, the Company's wholly owned subsidiary, provides financial services to retail, corporate and small business customers through its robust branch network located in Bergen, Hunterdon, Middlesex, Morris, Ocean, Somerset, Union
CLINTON, N.J., April 12, 2024 (GLOBE NEWSWIRE) -- Unity Bancorp, Inc. (NASDAQ:UNTY), parent company of Unity Bank, reported net income of $9.6 million, or $0.93 per diluted share, for the quarter ended March 31, 2024, compared to net income of $9.8 million, or $0.96 per diluted share for the quarter ended December 31, 2023. This represents a 1.9% decrease in net income and a 3.1% decrease in net income per diluted share. James A. Hughes, President and CEO, commented on the financial results: "We are pleased to announce another strong quarter for Unity Bancorp, Inc. For the quarter, we achieved $9.6 million of net income, equivalent to $0.93 per diluted share. Our core deposit franchise ha
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Janney initiated coverage of Unity Bancorp with a rating of Buy and set a new price target of $32.00
Piper Sandler initiated coverage of Unity Bancorp with a rating of Overweight and set a new price target of $33.00
CLINTON, N.J., June 28, 2023 (GLOBE NEWSWIRE) -- Banking industry veteran Daniel Sharabba has joined Unity Bank as Senior Vice President/Senior Retail Officer. The Morris Plains resident is responsible for the development and execution of the community bank's branch banking operations. "We are excited to welcome Daniel to the Unity Bank family," said Unity Bank President & CEO James A. Hughes. "Daniel brings great banking experience to the team and has an impressive background growing both business and consumer relationships. We look forward to his continued success with Unity." Sharabba previously served as Regional Manager/Vice President with Citizens Bank, overseeing 17 retail loc
CLINTON, N.J., Nov. 21, 2024 (GLOBE NEWSWIRE) -- Unity Bancorp, Inc. (NASDAQ:UNTY), parent company of Unity Bank, announced that its Board of Directors has declared a cash dividend of $0.13 per common share. Such dividend is payable on December 31, 2024, to shareholders of record as of December 13, 2024. Unity Bancorp, Inc. is a financial services organization headquartered in Clinton, New Jersey, with approximately $2.6 billion in assets and $2.0 billion in deposits. Unity Bank, the Company's wholly owned subsidiary, provides financial services to retail, corporate and small business customers through its robust branch network located in Bergen, Hunterdon, Middlesex, Morris, Ocean, Somer
CLINTON, N.J., Aug. 15, 2024 (GLOBE NEWSWIRE) -- Unity Bancorp, Inc. (NASDAQ:UNTY), parent company of Unity Bank, announced that its Board of Directors has declared a cash dividend of $0.13 per common share. Such dividend is payable on September 20, 2024, to shareholders of record as of September 6, 2024. Unity Bancorp, Inc. is a financial services organization headquartered in Clinton, New Jersey, with approximately $2.6 billion in assets and $2.0 billion in deposits. Unity Bank, the Company's wholly owned subsidiary, provides financial services to retail, corporate and small business customers through its robust branch network located in Bergen, Hunterdon, Middlesex, Morris, Ocean, Some
CLINTON, N.J., May 16, 2024 (GLOBE NEWSWIRE) -- Unity Bancorp, Inc. (NASDAQ:UNTY), parent company of Unity Bank, announced that its Board of Directors has declared a cash dividend of $0.13 per common share. Such dividend is payable on June 21, 2024, to shareholders of record as of June 7, 2024. Unity Bancorp, Inc. is a financial services organization headquartered in Clinton, New Jersey, with approximately $2.6 billion in assets and $2.0 billion in deposits. Unity Bank, the Company's wholly owned subsidiary, provides financial services to retail, corporate and small business customers through its robust branch network located in Bergen, Hunterdon, Middlesex, Morris, Ocean, Somerset, Union
CLINTON, N.J., April 12, 2024 (GLOBE NEWSWIRE) -- Unity Bancorp, Inc. (NASDAQ:UNTY), parent company of Unity Bank, reported net income of $9.6 million, or $0.93 per diluted share, for the quarter ended March 31, 2024, compared to net income of $9.8 million, or $0.96 per diluted share for the quarter ended December 31, 2023. This represents a 1.9% decrease in net income and a 3.1% decrease in net income per diluted share. James A. Hughes, President and CEO, commented on the financial results: "We are pleased to announce another strong quarter for Unity Bancorp, Inc. For the quarter, we achieved $9.6 million of net income, equivalent to $0.93 per diluted share. Our core deposit franchise ha
CLINTON, N.J., Feb. 22, 2024 (GLOBE NEWSWIRE) -- Unity Bancorp, Inc. (NASDAQ:UNTY), parent company of Unity Bank, announced that its Board of Directors has declared a cash dividend of $0.13 per common share. Such dividend is payable on March 29, 2024, to shareholders of record as of March 15, 2024. This represents an 8% increase from the $0.12 dividend per common share paid in the prior quarter. "We are pleased to announce another increase in our dividend payout, a testament to our robust financial performance and our unwavering commitment to delivering shareholder value. Our confidence in the Company's long-term prospects drives this decision. While maintaining a conservative capital po
CLINTON, N.J., Nov. 16, 2023 (GLOBE NEWSWIRE) -- Unity Bancorp, Inc. (NASDAQ:UNTY), parent company of Unity Bank, announced that its Board of Directors has declared a cash dividend of $0.12 per common share. Such dividend is payable on December 29, 2023, to shareholders of record as of December 15, 2023. Unity Bancorp, Inc. is a financial services organization headquartered in Clinton, New Jersey, with approximately $2.6 billion in assets and $1.9 billion in deposits. Unity Bank, the Company's wholly owned subsidiary, provides financial services to retail, corporate and small business customers through its robust branch network located in Bergen, Hunterdon, Middlesex, Morris, Ocean, Som
CLINTON, N.J., Aug. 17, 2023 (GLOBE NEWSWIRE) -- Unity Bancorp, Inc. (NASDAQ:UNTY), parent company of Unity Bank, announced that its Board of Directors has declared a cash dividend of $0.12 per common share. Such dividend is payable on September 22, 2023, to shareholders of record as of September 8, 2023. Unity Bancorp, Inc. is a financial service organization headquartered in Clinton, New Jersey, with approximately $2.6 billion in assets and $1.8 billion in deposits. Unity Bank, the company's wholly owned subsidiary, provides financial services to retail, corporate and small business customers through its robust branch network located in Bergen, Hunterdon, Middlesex, Ocean, Somerset, Uni
CLINTON, N.J., April 27, 2023 (GLOBE NEWSWIRE) -- Unity Bancorp, Inc. (NASDAQ:UNTY), parent company of Unity Bank, announced that its Board of Directors has declared a cash dividend of $0.12 per common share. Such dividend is payable on June 23, 2023, to shareholders of record as of June 9, 2023. Unity Bancorp, Inc. is a financial service organization headquartered in Clinton, New Jersey, with approximately $2.5 billion in assets and $1.8 billion in deposits. Unity Bank, the company's wholly owned subsidiary, provides financial services to retail, corporate and small business customers through its robust branch network located in Bergen, Hunterdon, Middlesex, Ocean, Somerset, Union and Wa
CLINTON, N.J., March 30, 2023 (GLOBE NEWSWIRE) -- Unity Bank has earned the Top (5-Star) Rating for financial strength and stability from BauerFinancial, Inc., the nation's premier bank rating firm. BauerFinancial rates every federally-insured U.S. chartered bank with the same strict standards, and is pleased to report that Unity Bank continues to outperform its peers. "The 5-Star Rating by BauerFinancial indicates that Unity Bank excels in many different areas, including available capital, profitability and asset quality," said Unity Bank President & CEO James A. Hughes. "The rating places Unity Bank in the top tier of financial institutions in the United States. We are honored by the ra
CLINTON, N.J., Feb. 16, 2023 (GLOBE NEWSWIRE) -- Unity Bancorp, Inc. (NASDAQ:UNTY), parent company of Unity Bank, announced that its Board of Directors has declared a cash dividend of $0.12 per common share. Such dividend is payable on March 24, 2023, to shareholders of record as of March 10, 2023. This represents an 9% increase from the $0.11 dividend per common share paid in the prior quarter, and a 20% increase from the $0.10 dividend per common share paid in March 2022. Unity Bancorp, Inc. is a financial service organization headquartered in Clinton, New Jersey, with approximately $2.4 billion in assets and $1.8 billion in deposits. Unity Bank, the company's wholly owned subsidiary,
Keefe, Bruyette & Woods analyst Christopher O'Connell reiterates Unity Bancorp (NASDAQ:UNTY) with a Outperform and raises the price target from $35 to $39.
Unity Bancorp (NASDAQ:UNTY) reported quarterly earnings of $0.93 per share which beat the analyst consensus estimate of $0.92 by 1.09 percent. This is a 2.11 percent decrease over earnings of $0.95 per share from the same period last year.
Unity Bancorp (NASDAQ:UNTY) reported quarterly earnings of $0.93 per share which beat the analyst consensus estimate of $0.90 by 3.33 percent. This is a 3.12 percent decrease over earnings of $0.96 per share from the same period last year.
Unity Bancorp, Inc. (NASDAQ:UNTY), parent company of Unity Bank, announced that its Board of Directors has declared a cash dividend of $0.13 per common share. Such dividend is payable on March 29, 2024, to shareholders of record as of March 15, 2024. This represents an 8% increase from the $0.12 dividend per common share paid in the prior quarter."We are pleased to announce another increase in our dividend payout, a testament to our robust financial performance and our unwavering commitment to delivering shareholder value. Our confidence in the Company's long-term prospects drives this decision. While maintaining a conservative capital position, we aim to enhance shareholder value through st
Unity Bancorp (NASDAQ:UNTY) reported its Q4 earnings results on Friday, January 12, 2024 at 06:00 AM. Here's what investors need to know about the announcement. Earnings Unity Bancorp beat estimated earnings by 11.63%, reporting an EPS of $0.96 versus an estimate of $0.86. Revenue was down $56 thousand from the same period last year. Past Earnings Performance Last quarter the company beat on EPS by $0.08 which was followed by a 0.81% increase in the share price the next day. Here's a look at Unity Bancorp's past performance: Quarter Q3 2023 Q2 2023 Q1 2023 Q4 2022 EPS Estimate 0.89 0.87 0.95 1.01 EPS Actual 0.97 0.95 0.96 0.93 Revenue Estimate 25.32M 24.77M 25.83M 26.47M Revenue
Unity Bancorp (NASDAQ:UNTY) reported quarterly earnings of $0.97 per share which beat the analyst consensus estimate of $0.89 by 8.99 percent. This is a 4.3 percent increase over earnings of $0.93 per share from the same period last year. The company reported quarterly sales of $25.58 million which beat the analyst consensus estimate of $25.32 million by 1.01 percent. This is a 2.93 percent increase over sales of $24.85 million the same period last year.
Third-quarter earnings season for U.S. banks officially begins this Friday. Among the financial heavyweights reporting earnings this week are JPMorgan Chase & Co. (NYSE:JPM), BlackRock Inc. (NYSE:BLK), Citigroup Inc. (NYSE:C), Wells Fargo Co. (NYSE:WFC) and PNC Financial Services (NYSE:PNC). CompanyQ3 Earnings (consensus)Q3 Revenue (consensus)JP Morgan Chase & Co.$3.86$39.55bnBlackrock Inc.$8.63$4.61bnCitigroup$1.24$19.22bnWells Fargo$1.25$20.11bnPNC Financial Services$3.19$5.34bnStreet earnings and revenue estimates. A recent research note from Bank of America provides a compelling overview of what investors can anticipate for banks. Bank of America analysts — Ebrahim H. Poonawa
Unity Bancorp (NASDAQ:UNTY) reported quarterly earnings of $0.95 per share which beat the analyst consensus estimate of $0.87 by 9.2 percent. This is a 7.95 percent increase over earnings of $0.88 per share from the same period last year.
On Thursday, 498 companies reached new 52-week lows. Things to Consider About Today's 52-Week Lows: Pfizer (NYSE:PFE) was the biggest company in terms of market cap to set a new 52-week low. The smallest company by market cap to set a new 52-week low was NovaBay Pharmaceuticals (AMEX:NBY). Mullen Automotive (NASDAQ:MULN)'s stock traded down the lowest, falling 2028.33% to reach a new 52-week low. Innoviz Technologies (NASDAQ:INVZ) shares were the most resilient, as shares rose 0.0%, rebounding from its new 52-week low. The following stocks created new 52-week lows on Thursday: Pfizer (NYSE:PFE) stock drifted down 0.18% on Thursday morning to hit a new 52-week low of $38.02. C