Last $9.05 USD
Change Today +0.05 / 0.56%
Volume 1.1K
UNTY On Other Exchanges
Symbol
Exchange
NASDAQ GM
As of 8:10 PM 10/24/14 All times are local (Market data is delayed by at least 15 minutes).

unity bancorp inc (UNTY) Snapshot

Open
$9.00
Previous Close
$9.00
Day High
$9.06
Day Low
$9.00
52 Week High
07/30/14 - $9.81
52 Week Low
10/25/13 - $7.09
Market Cap
68.8M
Average Volume 10 Days
4.3K
EPS TTM
$0.78
Shares Outstanding
7.6M
EX-Date
09/10/14
P/E TM
11.6x
Dividend
$0.12
Dividend Yield
1.10%
Current Stock Chart for UNITY BANCORP INC (UNTY)

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unity bancorp inc (UNTY) Details

Unity Bancorp, Inc. operates as a bank holding company for Unity Bank that provides financial services to retail, corporate, and small business customers. It accepts personal and business checking accounts, time deposits, money market accounts, and regular savings accounts, as well as noninterest-bearing demand deposits, interest-bearing demand deposits, and savings deposits. The company’s loan portfolio comprises commercial, small business administration, consumer, mortgage, home equity, and personal loans. It also offers investment products and services. As of March 6, 2014, the company offered its products and services through its 15 branches in Hunterdon, Middlesex, Somerset, Union, and Warren Counties in New Jersey; and Northampton County, Pennsylvania. Unity Bancorp, Inc. was founded in 1991 and is headquartered in Clinton, New Jersey.

148 Employees
Last Reported Date: 03/6/14
Founded in 1991

unity bancorp inc (UNTY) Top Compensated Officers

Chief Executive Officer, President, Director,...
Total Annual Compensation: $300.0K
Chief Financial Officer, Principal Accounting...
Total Annual Compensation: $212.8K
Chief Operations Officer, Executive Vice Pres...
Total Annual Compensation: $195.3K
Compensation as of Fiscal Year 2013.

unity bancorp inc (UNTY) Key Developments

Unity Bancorp Inc. Reports Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2014; ; Announces Net Charge-Offs for the Third Quarter Ended September 30, 2014; Provides Net Interest Guidance for the Fourth Quarter of 2014

Unity Bancorp Inc. reported consolidated earnings results for the third quarter and nine months ended September 30, 2014. For the quarter, the company’s net interest income was $7,632,000 against $6,871,000 a year ago. Income before provision for income taxes was $2,694,000 against $1,986,000 a year ago. Income available to common shareholders was $1,886,000 or $0.24 per diluted share against $1,183,000 or $0.15 per diluted share a year ago. Book value was $8.17 per common share against $7.41 per common share as at Sept. 30, 2012. Return on average assets and average common equity for the quarter were 0.82% and 11.89%, respectively, compared to 0.62% and 8.25% for the same period a year ago. For the nine months, the company’s net interest income was $22,225,000 against $20,362,000 a year ago. Income before provision for income taxes was $6,900,000 against $5,810,000 a year ago. Income available to common shareholders was $4,707,000 or $0.61 per diluted share against $2,860,000 or $0.36 per diluted share a year ago. Return on average assets and average common equity for the nine month periods were 0.70% and 10.47%, respectively, compared to 0.63% and 6.67% for the same period a year ago. Net charge-offs were $490,000 for the three months ended September 30, 2014, compared to $1.4 million for the same period a year ago. The company expected net interest income to continue to expand in future quarters due to strong loan growth as net interest margin remains stable.

Unity Bancorp Inc. Declares Cash Dividend Payable on September 26, 2014

Unity Bancorp Inc. announced that its Board of Directors has declared a cash dividend of $0.03 per common share. Such dividend is payable on September 26, 2014, to shareholders of record as of September 12, 2014.

Unity Bancorp Inc. Reports Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2014; Reports Net Charge Offs for the Second Quarter of 2014

Unity Bancorp Inc. reported consolidated earnings results for the second quarter and six months ended June 30, 2014. For the quarter, the company reported total interest income of $9,102,000 compared to $8,401,000 a year ago. Net interest income was $7,305,000 compared to $6,802,000 a year ago. The increases in the period were the result of momentum from the strong growth in commercial and residential mortgage loan volume. Net interest income after provision for loan losses was $6,755,000 against $6,502,000 a year ago. Income before provision for income taxes was $2,251,000 compared to $2,086,000 a year ago. Income available to common shareholders was $1,528,000 or $0.20 basic and diluted per share compared to $882,000 or $0.17 basic and diluted per share a year ago. Return on average assets was 0.68% compared to 0.67% a year ago. Return on average equity was 10.31 % compared to 6.11% a year ago. For the six months period, the company reported total interest income of $18,126,000 compared to $16,714,000 a year ago. Net interest income was $14,593,000 compared to $13,491,000 a year ago. The increases in the period were the result of momentum from the strong growth in commercial and residential mortgage loan volume. Net interest income after provision for loan losses was $13,443,000 against $12,541,000 a year ago. Income before provision for income taxes was $4,206,000 compared to $3,824,000 a year ago. Income available to common shareholders was $2,821,000 or $0.37 basic and diluted per share compared to $1,677,000 or $0.21 diluted per share a year ago. Book value per common share as at June 30, 2014 was $7.95 compared to $7.70 as at June 30, 2013. Return on average assets and average common equity for the six month periods were 0.64% and 9.70%, respectively, compared to 0.63% and 5.88% for the same period a year ago. The increases in net interest income in each period were the result of momentum from the strong growth in commercial and residential mortgage loan volume. The company reported net charge offs of $499,000 for the second quarter of 2014 compared to $336,000 a year ago.

 

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Industry Analysis

UNTY

Industry Average

Valuation UNTY Industry Range
Price/Earnings 13.2x
Price/Sales 2.1x
Price/Book 1.1x
Price/Cash Flow 12.7x
TEV/Sales NM Not Meaningful
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