For its second fiscal quarter (ending June 30), Unity Bancorp Inc (NASDAQ: UNTY) has reported a -2% decline in E.P.S. from $0.96 a year ago to $0.94 in the current quarter. However, this performance was $0.03 better than the consensus estimate of $0.91. For the latest four quarters through June 30, E.P.S. were $3.84 versus $3.82 for the same period a year ago — an increase of 1%.
Recent Price Action
Unity Bancorp Inc (NASDAQ: UNTY) stock enjoyed a large increase of 3.5% on 7/12/24. The stock closed at $30.17. Moreover, this advance was accompanied by exceptionally high trading volume at 301% of normal. The stock has performed in line with the market over the last nine months and has risen 7.9% during the last week.
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 inconsistent signals from PTR’s two proprietary measures of a stock’s attractiveness. Unity Bancorp has a neutral Power Rating of 59 but a good Appreciation Score of 83, resulting in the Highest Value Trend Rating.
Rating Review
In light of this new information we are reviewing our current Overall Rating of A. This review will be completed in the next several days.
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