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Unity Bancorp (NASDAQ:UNTY) Stock, Chaîne d'Options

Unity Bancorp

Unity Bancorp Inc is a bank holding company that serves as a holding company for Unity Bank. It conducts a traditional and community-oriented commercial banking business and offers services, including personal and business checking accounts, time deposits, money market accounts, regular savings accounts, and others. The company structures its specific services and charges in a manner designed to attract the business of small and medium-sized businesses and professional communities, as well as individuals residing, working, and shopping in its service area. The company engages in a wide range of lending activities and offers commercial, Small Business Administration, consumer, mortgage, home equity, and personal loans.

Unity Bancorp Inc

Keefe, Bruyette &amp; Woods analyst Christopher O'Connell maintains Unity Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UNTY#NASDAQ">UNTY</a>) with a Outperform and raises the price target from $43 to $51.

News

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UNTY

Keefe, Bruyette & Woods Maintains Outperform on Unity Bancorp, Raises Price Target to $51

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Shares of banking-related companies are trading higher after Donald Trump won the US presidential election.

Unity Bancorp shares are trading higher after Piper Sandler reiterated an Overweight rating and raised its price target from $40 to $44.

Piper Sandler analyst Justin Crowley reiterates Unity Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UNTY#NASDAQ">UNTY</a>) with a Overweight and raises the price target from $40 to $44.

Reiteration

Piper Sandler Reiterates Overweight on Unity Bancorp, Raises Price Target to $44

Unity Bancorp (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/unty#NASDAQ">UNTY</a>) came out with quarterly earnings of $1.07 per share, beating the Zacks Consensus Estimate of $0.97 per share. This compares to earnings of $0.97 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of 10.31%. A quarter ago, it was expected that this bank holding company would post earnings of $0.94 per share when it actually produced earnings of $0.93, delivering a surprise of -1.06%.
Over the last four quarters, the company has surpassed consensus EPS estimates three times.
Unity Bancorp, which belongs to the Zacks Banks - Northeast industry, posted revenues of $27.66 million for the quarter ended September 2024, surpassing the Zacks Consensus Estimate by 4.79%. This compares to year-ago revenues of $25.58 million. The company has topped consensus revenue estimates three times over the last four quarters.
The sustainability of the stock&#39;s immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management&#39;s commentary on the earnings call.
Unity Bancorp shares have added about 11.4% since the beginning of the year versus the S&amp;P 500&#39;s gain of 21.2%.
<h2>What&#39;s Next for Unity Bancorp?</h2>
While Unity Bancorp has underperformed the market so far this year, the question that comes to investors&#39; minds is: what&#39;s next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company&#39;s earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for Unity Bancorp: mixed. While the magnitude and direction of estimate revisions could change following the company&#39;s just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future.
It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus EPS estimate is $0.98 on $26.91 million in revenues for the coming quarter and $3.80 on $104.47 million in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Banks - Northeast is currently in the top 39% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
Another stock from the same industry, Orange County Bancorp, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/obt#NASDAQ">OBT</a>), has yet to report results for the quarter ended September 2024.
This company is expected to post quarterly earnings of $1.43 per share in its upcoming report, which represents a year-over-year change of -11.2%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.
Orange County Bancorp, Inc.&#39;s revenues are expected to be $26.6 million, up 3.4% from the year-ago quarter.
<a href="https://www.zacks.com/stock/news/2349133/unity-bancorp-unty-surpasses-q3-earnings-and-revenue-estimates?cid=CS-BENZ-FT-tale_of_the_tape|yseop_template_4-2349133">To read this article on Zacks.com click here.</a>

Earnings

Earnings Beats

Small Cap

Markets

Trading Ideas

Unity Bancorp Surpasses Q3 Earnings and Revenue Estimates

Unity Bancorp Q3 2024 GAAP EPS $1.07 Beats $0.95 Estimate, Sales $27.659M Beat $26.095M Estimate

Unity Bancorp, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UNTY#NASDAQ">UNTY</a>), 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.

Buybacks

Unity Bancorp Announces New Share Repurchase Program Of Up To 500K Shares, Or ~5% Of Its Outstanding Common Stock

Keefe, Bruyette &amp; Woods analyst Christopher O'Connell reiterates Unity Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UNTY#NASDAQ">UNTY</a>) with a Outperform and raises the price target from $35 to $39.

Keefe, Bruyette & Woods Reiterates Outperform on Unity Bancorp, Raises Price Target to $39

Unity Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UNTY#NASDAQ">UNTY</a>) 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 Q2 EPS $0.93 Beats $0.92 Estimate, Company Achieved $9.5M; Net Interest Margin Remained Above 4% And Delivered ROA Of 1.56% And ROE Of 14.07%

Unity Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UNTY#NASDAQ">UNTY</a>) 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 Q1 EPS $0.93 Beats $0.90 Estimate

The market expects Unity Bancorp (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/unty#NASDAQ">UNTY</a>) to deliver a year-over-year decline in earnings on lower revenues when it reports results for the quarter ended March 2024. This widely-known consensus outlook is important in assessing the company&#39;s earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates.
The earnings report might help the stock move higher if these key numbers are better than expectations. On the other hand, if they miss, the stock may move lower.
While the sustainability of the immediate price change and future earnings expectations will mostly depend on management&#39;s discussion of business conditions on the earnings call, it&#39;s worth handicapping the probability of a positive EPS surprise.
Zacks Consensus Estimate
This bank holding company is expected to post quarterly earnings of $0.91 per share in its upcoming report, which represents a year-over-year change of -5.2%.
Revenues are expected to be $25.15 million, down 0.7% from the year-ago quarter.
Estimate Revisions Trend
The consensus EPS estimate for the quarter has been revised 0.54% lower over the last 30 days to the current level. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period.
Investors should keep in mind that the direction of estimate revisions by each of the covering analysts may not always get reflected in the aggregate change.
Earnings Whisper
Estimate revisions ahead of a company&#39;s earnings release offer clues to the business conditions for the period whose results are coming out. This insight is at the core of our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction).
The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.
Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model&#39;s predictive power is significant for positive ESP readings only.
A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP.
Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell).
How Have the Numbers Shaped Up for Unity Bancorp?
For Unity Bancorp, the Most Accurate Estimate is higher than the Zacks Consensus Estimate, suggesting that analysts have recently become bullish on the company&#39;s earnings prospects. This has resulted in an Earnings ESP of +1.66%.
On the other hand, the stock currently carries a Zacks Rank of #4.
So, this combination makes it difficult to conclusively predict that Unity Bancorp will beat the consensus EPS estimate.
Does Earnings Surprise History Hold Any Clue?
While calculating estimates for a company&#39;s future earnings, analysts often consider to what extent it has been able to match past consensus estimates. So, it&#39;s worth taking a look at the surprise history for gauging its influence on the upcoming number.
For the last reported quarter, it was expected that Unity Bancorp would post earnings of $0.87 per share when it actually produced earnings of $0.96, delivering a surprise of +10.34%.
Over the last four quarters, the company has beaten consensus EPS estimates four times.
Bottom Line
An earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss.
That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it&#39;s worth checking a company&#39;s Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they&#39;ve reported.
Unity Bancorp doesn&#39;t appear a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
<a href="https://www.zacks.com/stock/news/2251985/earnings-preview-unity-bancorp-unty-q1-earnings-expected-to-decline?cid=CS-BENZ-FT-tale_of_the_tape|yseop_template_9-2251985">To read this article on Zacks.com click here.</a>

Earnings Preview: Unity Bancorp (UNTY) Q1 Earnings Expected to Decline

Unity Bancorp, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UNTY#NASDAQ">UNTY</a>), 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. &nbsp;
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 strong earnings, the planned dividend increase, and strategically timed share repurchases." – James A. Hughes, President &amp; CEO of Unity Bank

Dividends

Unity Bancorp Announces 8% Increase In Q1 Dividend From $0.12 To $0.13 Per Share

Unity Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UNTY#NASDAQ">UNTY</a>) reported its Q4 earnings results on Friday, January 12, 2024 at 06:00 AM.
Here's what investors need to know about the announcement.
<h3>Earnings</h3>
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.
<h3>Past Earnings Performance</h3>
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:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q3 2023</th>
<th>Q2 2023</th>
<th>Q1 2023</th>
<th>Q4 2022</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>0.89</td>
<td>0.87</td>
<td>0.95</td>
<td>1.01</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>0.97</td>
<td>0.95</td>
<td>0.96</td>
<td>0.93</td>
</tr>
<tr>
<td>Revenue Estimate</td>
<td>25.32M</td>
<td>24.77M</td>
<td>25.83M</td>
<td>26.47M</td>
</tr>
<tr>
<td>Revenue Actual</td>
<td>25.58M</td>
<td>25.64M</td>
<td>25.33M</td>
<td>26.66M</td>
</tr>
</tbody>
</table>

&#x2A;&#x2A; Listen to the earnings announcement yourself by <a href="">clicking here</a>. &#x2A;&#x2A;
To track all earnings releases for Unity Bancorp <a href="https://www.benzinga.com/quote/UNTY/earnings">visit their earnings calendar here.</a> 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Recap: Unity Bancorp Q4 Earnings

Unity Bancorp Q4 EPS $0.96 Beats $0.86 Estimate, Loan To Deposit Ratio 113% At 2023-End, Compared To Approximately 118% Year-Ago

Unity Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UNTY#NASDAQ">UNTY</a>) 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.

Unity Bancorp Q3 EPS $0.97 Beats $0.89 Estimate, Sales $25.58M Beat $25.32M Estimate

Third-quarter earnings season for U.S. banks <a href="https://www.benzinga.com/topic/us-banks">officially begins this Friday.</a>
Among the financial heavyweights reporting earnings this week are JPMorgan Chase &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>), BlackRock Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BLK#NYSE">BLK</a>), Citigroup Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/C#NYSE">C</a>), Wells Fargo Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WFC#NYSE">WFC</a>) and PNC Financial Services (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PNC#NYSE">PNC</a>).
<figure class="wp-block-table"> 
<table>
<thead>
<tr>
<th>Company</th>
<th>Q3 Earnings (consensus)</th>
<th>Q3 Revenue (consensus)</th>
</tr>
</thead>
<tbody>
<tr>
<td>JP Morgan Chase &amp; Co.</td>
<td>$3.86</td>
<td>$39.55bn</td>
</tr>
<tr>
<td>Blackrock Inc.</td>
<td>$8.63</td>
<td>$4.61bn</td>
</tr>
<tr>
<td>Citigroup</td>
<td>$1.24</td>
<td>$19.22bn</td>
</tr>
<tr>
<td>Wells Fargo</td>
<td>$1.25</td>
<td>$20.11bn</td>
</tr>
<tr>
<td>PNC Financial Services</td>
<td>$3.19</td>
<td>$5.34bn</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Street earnings and revenue estimates.</figcaption></figure>
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. Poonawala, Brandon Berman, Isiah Austin, and Gabriel Angelini — held discussions with their clients. It appears that both institutional and hedge funds are displaying a strong bullish inclination towards JPMorgan.
Read Also: <a href="https://www.benzinga.com/news/earnings/23/10/35155521/how-to-earn-500-a-month-from-jpmorgan-ahead-of-q3-earnings">How To Earn $500 A Month From JPMorgan Ahead Of Q3 Earnings</a>
<h2 class="wp-block-heading">JPMorgan</h2>
Investors are keenly interested in U.S. banks showing potential for further upward revisions in net-interest income (NII). They&#8217;re also keeping a close eye on expense management.
Per Bank of America&#8217;s assessment, JPMorgan is best positioned to navigate an environment of persistently higher interest rates. 
This is attributed to various factors, including the <a href="https://www.benzinga.com/analyst-ratings/analyst-color/23/05/32121948/great-deal-for-jpmorgan-bank-analysts-weigh-in-on-first-republic-acquisition">purchase</a> of First Republic. JPMorgan also <a href="https://www.bloomberg.com/news/articles/2023-07-11/jpmorgan-adds-silicon-valley-bank-veteran-in-startup-vc-growth-quest">tapped</a> John China — a three-decade veteran of Silicon Valley Bank — as co-head of Innovation Economy. These moves demonstrate effective management response to market disruptions.
Bank of America views JPMorgan&#8217;s stock as attractively valued at 10 times the forward price-to-earnings ratio, offering a substantial discount compared to the S&amp;P&#8217;s 17.8 P/E. 
Consequently, Bank of America maintains a Buy rating on JPMorgan shares. The price target hovers at $174, or 20% higher than current prices.
Bank of America expresses reservations about Wells Fargo, citing declining net-interest income and uncertainties surrounding share buybacks in light of macroeconomic and regulatory factors. 
Nonetheless, Wells Fargo is rated as a &#8220;Buy&#8221; by BofA, with a price target of $50. That&#8217;s over 25% higher than current market prices. 
Read Also: <a href="https://www.benzinga.com/markets/options/23/10/35167692/this-is-what-whales-are-betting-on-wells-fargo">This Is What Whales Are Betting On Wells Fargo</a>
<h2 class="wp-block-heading">Citigroup</h2>
Regarding Citigroup, Bank of America acknowledges CEO Jane Fraser&#8217;s effective strategy of de-risking the franchise through consumer business exits, simplifying the organization, and making necessary investments for regulatory compliance.
Bank of America rates Citigroup shares as &#8220;Buy&#8221; with a price target of $60, which is 45% higher than current prices. 
Read Also: <a href="https://www.benzinga.com/markets/options/23/10/35148627/check-out-what-whales-are-doing-with-citigroup">Check Out What Whales Are Doing With Citigroup</a>
Bank of America maintains its Buy rating on Morgan Stanley, recognizing it as one of the strongest global financial franchises, well-equipped to navigate an unpredictable operating environment. However, analysts highlight some uncertainty surrounding rising regulatory challenges and the potential risks associated with CEO James Gorman&#8217;s retirement. The price objective for Morgan Stanley is set at $100, about 24% higher compared to where the stock price currently trades. 
<h2 class="wp-block-heading">Goldman Sachs</h2>
In the case of Goldman Sachs, Bank of America holds a bearish stance on Q3 earnings compared to consensus estimates. They have reduced their projection for 3Q 2023 EPS to $4.97, citing markdowns on commercial real estate exposure. 
Nevertheless, Bank of America continues to endorse a &#8220;Buy&#8221; rating with a $388 price target, or about 22% above current prices, as they see an opportunity to invest in Goldman Sachs at discounted valuations, trading at 1.1 times price-to-tangible-book-value, which could offer exposure to a potential rebound in investment banking activity. 
Read Now: <a href="https://www.benzinga.com/analyst-ratings/23/10/35167683/jmp-securities-maintains-market-outperform-rating-for-goldman-sachs-gr-heres-what-you-need-to-kno">JMP Securities Maintains Market Outperform Rating for Goldman Sachs Gr: Here&#8217;s What You Need To Know</a>

Analyst Color

Large Cap

US Banks Q3 Earnings Preview: Why Bank Of America Analysts Are Bullish On Financial Stocks

Unity Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UNTY#NASDAQ">UNTY</a>) 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.

Unity Bancorp Q2 EPS $0.95 Beats $0.87 Estimate

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Unity Bancorp (NASDAQ:UNTY) Stock, Chaîne d'Options

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