Recent extremely meaningful positive changes in investment behavior have benefitted Unity Bancorp Inc (NASDAQ: UNTY): its shorter term price trend turned up, and the stock’s recent price rise disrupted its longer term downtrend.
Important positive changes in fundamentals have recently occurred for Unity Bancorp Inc (NASDAQ: UNTY): significant quarterly earnings acceleration occurred, and significant quarterly sales acceleration occurred.
In light of these very positive signals we are reviewing our current Overall Rating of B. We would continue to view the shares with optimism pending completion of this review in the next several days.
Current PriceTarget Research Rating
With future capital returns forecasted to be above the cost of capital, UNTY is expected to continue to be a Value Builder.
Unity Bancorp has a current Value Trend Rating of B (Positive). With this rating, PTR’s two proprietary measures of a stock’s current attractiveness are providing consistent signals. Unity Bancorp has a slightly positive Power Rating of 63 and a good Appreciation Score of 80, triggering the Positive Value Trend Rating.
Recent Price Action
On 11/9/23, Unity Bancorp Inc (NASDAQ: UNTY) stock declined modestly by -0.8%, closing at $24.85. The stock has been strong relative to the market over the last nine months and has risen 4.2% during the last week.
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