Unity Bancorp Inc (NASDAQ: UNTY) has reported E.P.S. of $1.09 for its third fiscal quarter (ending September 30) versus $0.98 for the same period a year ago — an increase of 11%. This result exceeded the consensus estimate of $0.95 by $0.14. For the latest four quarters through September 30, E.P.S. were $3.95 versus $3.86 for the same period a year ago — an increase of 2%.
Recent Price Action
Unity Bancorp Inc (NASDAQ: UNTY) stock closed at $35.13 on 10/11/24 after a very large increase of 6.6%. Moreover, trading volume in this advance was exceptionally high at 267% of normal. The stock has risen 8.5% during the last week and has been exceptionally strong relative to the market over the last nine months.
Current PriceTarget Research Rating
With future capital returns forecasted to exceed the cost of capital, UNTY is expected to continue to be a Value Builder.
Unity Bancorp has a current Value Trend Rating of A (Highest Rating). The Value Trend Rating reflects consistent signals from PTR’s two proprietary measures of a stock’s attractiveness. Unity Bancorp has a good Appreciation Score of 80 and a very high Power Rating of 89, with the Highest Value Trend Rating the result.
Rating Review
In light of this encouraging new earnings information and positive market action we are reviewing our current Overall Rating of A. We would continue to view the shares with optimism pending completion of this review in the next several days.
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