Earnings Report: Here’s what to expect from Unity Bancorp (NASDAQ:UNTY)

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Earnings results for Unity Bancorp (NASDAQ:UNTY)

Unity Bancorp, Inc. is estimated to report earnings on 10/15/2020. The upcoming earnings date is derived from an algorithm based on a company’s historical reporting dates. Our vendor, Zacks Investment Research, might revise this date in the future, once the company announces the actual earnings date. According to Zacks Investment Research, based on 2 analysts’ forecasts, the consensus EPS forecast for the quarter is $0.45. The reported EPS for the same quarter last year was $0.54.

Unity Bancorp last released its earnings data on July 23rd, 2020. The financial services provider reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.11. The company had revenue of $18.34 million for the quarter, compared to analysts’ expectations of $17.60 million. Unity Bancorp has generated $2.14 earnings per share over the last year and currently has a price-to-earnings ratio of 6.3. Unity Bancorp has not formally confirmed its next earnings publication date, but the company’s estimated earnings date is Thursday, October 15th, 2020 based off prior year’s report dates.

Analyst Opinion on Unity Bancorp (NASDAQ:UNTY)

2 Wall Street analysts have issued ratings and price targets for Unity Bancorp in the last 12 months. Their average twelve-month price target is $20.50, predicting that the stock has a possible upside of 58.79%. The high price target for UNTY is $21.00 and the low price target for UNTY is $20.00. There are currently 2 buy ratings for the stock, resulting in a consensus rating of “Buy.”

Unity Bancorp has received a consensus rating of Buy. The company’s average rating score is 3.00, and is based on 2 buy ratings, no hold ratings, and no sell ratings. According to analysts’ consensus price target of $20.50, Unity Bancorp has a forecasted upside of 58.8% from its current price of $12.91. Unity Bancorp has only been the subject of 1 research reports in the past 90 days.

Dividend Strength: Unity Bancorp (NASDAQ:UNTY)

Unity Bancorp pays a meaningful dividend of 2.47%, higher than the bottom 25% of all stocks that pay dividends. Unity Bancorp has been increasing its dividend for 6 years. The dividend payout ratio of Unity Bancorp is 14.95%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, Unity Bancorp will have a dividend payout ratio of 15.84% next year. This indicates that Unity Bancorp will be able to sustain or increase its dividend.

Insiders buying/selling: Unity Bancorp (NASDAQ:UNTY)

In the past three months, Unity Bancorp insiders have not sold or bought any company stock. Only 30.12% of the stock of Unity Bancorp is held by insiders. 49.59% of the stock of Unity Bancorp is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

Earnings and Valuation of Unity Bancorp (NASDAQ:UNTY

Earnings for Unity Bancorp are expected to grow by 6.32% in the coming year, from $1.90 to $2.02 per share. The P/E ratio of Unity Bancorp is 6.30, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 19.74. The P/E ratio of Unity Bancorp is 6.30, which means that it is trading at a less expensive P/E ratio than the Finance sector average P/E ratio of about 18.53. Unity Bancorp has a P/B Ratio of 0.87. P/B Ratios below 1 indicate that a company could be undervalued with respect to its assets and liabilities.

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