Loading...

We've got a brand new version of Simply Wall St! Try it out

Unity Bancorp

Nasdaq:UNTY
Snowflake Description

Flawless balance sheet with proven track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
UNTY
Nasdaq
$219M
Market Cap
  1. Home
  2. US
  3. Banks
Company description

Unity Bancorp, Inc. operates as the holding company for Unity Bank that provides a range of banking products and services to individuals, small and medium sized businesses, and professional communities. The last earnings update was 13 days ago. More info.


Add to Portfolio Compare Print
UNTY Share Price and Events
7 Day Returns
1.8%
NasdaqGM:UNTY
-2.5%
US Banks
-0.7%
US Market
1 Year Returns
-16.9%
NasdaqGM:UNTY
-14.2%
US Banks
-0.5%
US Market
UNTY Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Unity Bancorp (UNTY) 1.8% -3.8% -3.5% -16.9% 80% 151.4%
US Banks -2.5% -6.1% -3.8% -14.2% 32.4% 36.7%
US Market -0.7% -3% 0.9% -0.5% 30.4% 37%
1 Year Return vs Industry and Market
  • UNTY underperformed the Banks industry which returned -14.2% over the past year.
  • UNTY underperformed the Market in United States of America which returned -0.5% over the past year.
Price Volatility
UNTY
Industry
5yr Volatility vs Market

Value

 Is Unity Bancorp undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Unity Bancorp to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Unity Bancorp.

NasdaqGM:UNTY Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Median Return on Equity from the past 5 years.
= Stable Book Value * Return on Equity
= $15.64 * 11.5%
$1.79
Book Value of Equity per Share Weighted future Book Value estimates from 2 analysts. $15.64
Discount Rate (Cost of Equity) See below 8.6%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NasdaqGM:UNTY
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
Banks Unlevered Beta Simply Wall St/ S&P Global 0.57
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.565 (1 + (1- 21%) (92.67%))
0.986
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.99
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (0.986 * 5.96%)
8.61%

Discounted Cash Flow Calculation for NasdaqGM:UNTY using Excess Returns Model Model

The calculations below outline how an intrinsic value for Unity Bancorp is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

NasdaqGM:UNTY Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (11.5% – 8.61%) * $15.64)
$0.45
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= $0.45 / (8.61% - 2.73%)
$7.63
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= $15.64 + $7.63
$23.27
NasdaqGM:UNTY Discount to Share Price
Calculation Result
Value per share (USD) From above. $23.27
Current discount Discount to share price of $20.20
= -1 x ($20.20 - $23.27) / $23.27
13.2%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Unity Bancorp is available for.
Intrinsic value
13%
Share price is $20.2 vs Future cash flow value of $23.27
Current Discount Checks
For Unity Bancorp to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Unity Bancorp's share price is below the future cash flow value, but not at a moderate discount (< 20%).
  • Unity Bancorp's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Unity Bancorp's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Unity Bancorp's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NasdaqGM:UNTY PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-06-30) in USD $2.12
NasdaqGM:UNTY Share Price ** NasdaqGM (2019-08-19) in USD $20.2
United States of America Banks Industry PE Ratio Median Figure of 598 Publicly-Listed Banks Companies 12.28x
United States of America Market PE Ratio Median Figure of 3,094 Publicly-Listed Companies 17.25x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Unity Bancorp.

NasdaqGM:UNTY PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NasdaqGM:UNTY Share Price ÷ EPS (both in USD)

= 20.2 ÷ 2.12

9.53x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unity Bancorp is good value based on earnings compared to the US Banks industry average.
  • Unity Bancorp is good value based on earnings compared to the United States of America market.
Price based on expected Growth
Does Unity Bancorp's expected growth come at a high price?
Raw Data
NasdaqGM:UNTY PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 9.53x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts
7.3%per year
United States of America Banks Industry PEG Ratio Median Figure of 274 Publicly-Listed Banks Companies 1.12x
United States of America Market PEG Ratio Median Figure of 2,126 Publicly-Listed Companies 1.4x

*Line of best fit is calculated by linear regression .

NasdaqGM:UNTY PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 9.53x ÷ 7.3%

1.31x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unity Bancorp is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Unity Bancorp's assets?
Raw Data
NasdaqGM:UNTY PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-06-30) in USD $13.76
NasdaqGM:UNTY Share Price * NasdaqGM (2019-08-19) in USD $20.2
United States of America Banks Industry PB Ratio Median Figure of 601 Publicly-Listed Banks Companies 1.16x
United States of America Market PB Ratio Median Figure of 5,276 Publicly-Listed Companies 1.7x
NasdaqGM:UNTY PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NasdaqGM:UNTY Share Price ÷ Book Value per Share (both in USD)

= 20.2 ÷ 13.76

1.47x

* Primary Listing of Unity Bancorp.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unity Bancorp is overvalued based on assets compared to the US Banks industry average.
X
Value checks
We assess Unity Bancorp's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Banks industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Banks industry average (and greater than 0)? (1 check)
  5. Unity Bancorp has a total score of 2/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Unity Bancorp expected to perform in the next 1 to 3 years based on estimates from 2 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
7.3%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Unity Bancorp expected to grow at an attractive rate?
  • Unity Bancorp's earnings growth is expected to exceed the low risk savings rate of 2.7%.
Growth vs Market Checks
  • Unity Bancorp's earnings growth is positive but not above the United States of America market average.
  • Unity Bancorp's revenue growth is expected to exceed the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NasdaqGM:UNTY Future Growth Rates Data Sources
Data Point Source Value (per year)
NasdaqGM:UNTY Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts 7.3%
NasdaqGM:UNTY Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 2 Analysts 9.3%
United States of America Banks Industry Earnings Growth Rate Market Cap Weighted Average 1.5%
United States of America Banks Industry Revenue Growth Rate Market Cap Weighted Average 3.3%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 14%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.5%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NasdaqGM:UNTY Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NasdaqGM:UNTY Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2020-12-31 73 25 2
2019-12-31 67 24 2
NasdaqGM:UNTY Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-06-30 63 33 23
2019-03-31 62 42 22
2018-12-31 60 39 22
2018-09-30 59 31 19
2018-06-30 57 25 17
2018-03-31 55 15 15
2017-12-31 52 14 13
2017-09-30 51 16 14
2017-06-30 49 13 13
2017-03-31 47 12 12
2016-12-31 46 9 13
2016-09-30 44 9 13

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Unity Bancorp's earnings are expected to grow by 7.3% yearly, however this is not considered high growth (20% yearly).
  • Unity Bancorp's revenue is expected to grow by 9.3% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NasdaqGM:UNTY Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below

All data from Unity Bancorp Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqGM:UNTY Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2020-12-31 2.31 2.39 2.23 2.00
2019-12-31 2.15 2.18 2.11 2.00
NasdaqGM:UNTY Past Financials Data
Date (Data in USD Millions) EPS *
2019-06-30 2.12
2019-03-31 2.09
2018-12-31 2.04
2018-09-30 1.74
2018-06-30 1.59
2018-03-31 1.41
2017-12-31 1.22
2017-09-30 1.31
2017-06-30 1.28
2017-03-31 1.26
2016-12-31 1.40
2016-09-30 1.36

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if Unity Bancorp will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Unity Bancorp's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Unity Bancorp has a total score of 2/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Unity Bancorp performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Unity Bancorp's growth in the last year to its industry (Banks).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Unity Bancorp has delivered over 20% year on year earnings growth in the past 5 years.
  • Unity Bancorp's 1-year earnings growth exceeds its 5-year average (35.4% vs 25.6%)
  • Unity Bancorp's earnings growth has exceeded the US Banks industry average in the past year (35.4% vs 33.2%).
Earnings and Revenue History
Unity Bancorp's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Unity Bancorp Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqGM:UNTY Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-06-30 62.88 22.87 31.96
2019-03-31 61.51 22.43 31.24
2018-12-31 60.44 21.92 31.01
2018-09-30 58.85 18.62 30.38
2018-06-30 56.93 16.88 28.62
2018-03-31 54.79 14.93 27.98
2017-12-31 52.48 12.89 26.97
2017-09-30 50.67 13.55 26.16
2017-06-30 48.97 12.82 25.69
2017-03-31 47.37 12.20 24.88
2016-12-31 45.83 13.21 24.27
2016-09-30 44.41 12.69 24.27
2016-06-30 43.48 12.22 23.89
2016-03-31 42.56 11.82 23.65
2015-12-31 41.22 9.56 23.32
2015-09-30 39.12 8.62 22.33
2015-06-30 37.36 7.95 21.75
2015-03-31 35.49 7.05 21.30
2014-12-31 34.24 6.41 20.95
2014-09-30 33.28 5.97 20.70
2014-06-30 32.27 5.27 20.37
2014-03-31 32.03 4.62 20.26
2013-12-31 31.68 4.13 20.18
2013-09-30 31.89 3.62 20.31
2013-06-30 31.77 3.24 20.50
2013-03-31 31.31 2.93 20.65
2012-12-31 30.77 2.64 20.57
2012-09-30 29.65 2.08 20.30

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Unity Bancorp has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Unity Bancorp used its assets more efficiently than the US Banks industry average last year based on Return on Assets.
  • Unable to establish if Unity Bancorp improved its use of capital last year versus 3 years ago (Return on Capital Employed) due to insufficient past data.
X
Past performance checks
We assess Unity Bancorp's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Banks industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Unity Bancorp has a total score of 4/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Unity Bancorp's financial position? (This company is analysed differently as a bank or financial institution)

This company is a bank or financial institution.

Fundamentally a bank's business is based upon borrowing and lending money, for this reason they typically have high levels of debt and we analyse them differently.
Net Worth
Balance sheet
This treemap shows a more detailed breakdown of Unity Bancorp's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Unity Bancorp Company Filings, last reported 1 month ago.

NasdaqGM:UNTY Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-06-30 149.38 200.31 154.84
2019-03-31 143.72 205.31 149.14
2018-12-31 138.49 220.31 123.69
2018-09-30 133.07 190.31 145.22
2018-06-30 128.14 230.31 139.94
2018-03-31 123.10 191.31 116.29
2017-12-31 118.11 285.31 128.41
2017-09-30 115.81 162.31 104.83
2017-06-30 112.45 152.31 104.82
2017-03-31 109.31 130.31 103.20
2016-12-31 106.29 131.31 106.93
2016-09-30 88.15 125.31 84.67
2016-06-30 84.97 124.31 96.08
2016-03-31 82.28 105.31 126.47
2015-12-31 78.47 107.47 87.98
2015-09-30 76.07 105.47 88.86
2015-06-30 73.69 130.47 90.44
2015-03-31 71.99 170.47 133.85
2014-12-31 70.12 140.47 123.64
2014-09-30 68.38 115.47 101.59
2014-06-30 60.48 140.47 95.34
2014-03-31 58.81 130.47 128.21
2013-12-31 57.17 122.47 99.23
2013-09-30 55.94 90.47 74.73
2013-06-30 68.29 125.47 56.31
2013-03-31 78.16 90.47 79.98
2012-12-31 77.51 90.47 94.01
2012-09-30 76.39 90.47 72.56
BANK ANALYSIS

This company is a bank or financial institution, which is analysed accordingly below.

Below we check the amount of loans the bank has, how many of those are bad, and its ability to cover any bad loans.
  • Unity Bancorp has an acceptable proportion of non-loan assets held.
  • Unity Bancorp's liabilities are made up of primarily low risk sources of funding.
  • Loans at Unity Bancorp are broadly funded by customer deposits.
  • Unity Bancorp's level of assets compared to its equity is moderate (i.e. an appropriate level of borrowing to fund lending).
  • Unity Bancorp has a sufficient allowance for bad loans.
  • Unity Bancorp has an acceptable level of bad loans (less than 2%).
X
Financial health checks
We assess Unity Bancorp's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Unity Bancorp has a total score of 6/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Unity Bancorp's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
1.58%
Current annual income from Unity Bancorp dividends. Estimated to be 1.65% next year.
If you bought $2,000 of Unity Bancorp shares you are expected to receive $32 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Unity Bancorp's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.49%).
  • Unity Bancorp's dividend is below the markets top 25% of dividend payers in United States of America (3.84%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NasdaqGM:UNTY Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below
United States of America Banks Industry Average Dividend Yield Market Cap Weighted Average of 481 Stocks 3.3%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2010 Stocks 2.5%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.5%
United States of America Top 25% Dividend Yield 75th Percentile 3.8%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NasdaqGM:UNTY Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2020-12-31 0.36 2.00
2019-12-31 0.31 2.00
NasdaqGM:UNTY Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-04-25 0.320 1.539
2019-02-28 0.280 1.366
2018-11-29 0.280 1.390
2018-08-23 0.280 1.247
2018-04-26 0.280 1.195
2018-02-22 0.240 1.089
2017-11-16 0.240 1.181
2017-08-24 0.240 1.258
2017-04-28 0.240 1.413
2017-02-23 0.200 1.193
2016-11-18 0.200 1.269
2016-08-26 0.182 1.482
2016-05-26 0.146 1.272
2016-02-25 0.146 1.423
2015-11-19 0.146 1.450
2015-08-27 0.146 1.593
2015-05-21 0.109 1.240
2015-02-26 0.109 1.309
2014-11-21 0.109 1.264
2014-08-28 0.109 1.302
2014-05-29 0.073 0.892
2014-02-27 0.073 0.975
2013-11-22 0.036 0.517
2013-08-22 0.036 0.535
2013-05-28 0.036 0.549
2010-11-11 0.000 0.000
2010-10-21 0.000 0.000
2010-08-10 0.000 0.000
2010-07-22 0.000 0.000
2010-05-11 0.000 0.000
2010-04-22 0.000 0.000
2010-03-18 0.000 0.000
2010-02-03 0.000 0.000
2009-11-10 0.000 0.000
2009-10-22 0.000 0.000
2009-08-12 0.000 0.000
2009-07-30 0.000 0.000
2009-05-14 0.000 0.000
2009-04-23 0.000 0.000
2009-03-23 0.000 0.000
2009-02-04 0.000 0.000
2008-11-13 0.000 0.000
2008-10-28 0.000 0.000

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Whilst dividend payments have been stable, Unity Bancorp has been paying a dividend for less than 10 years.
  • Dividend payments have increased, but Unity Bancorp only paid a dividend in the past 6 years.
Current Payout to shareholders
What portion of Unity Bancorp's earnings are paid to the shareholders as a dividend.
  • Dividends paid are thoroughly covered by earnings (7.3x coverage).
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Unity Bancorp's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Unity Bancorp afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Unity Bancorp has a total score of 2/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Unity Bancorp's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Jim Hughes
COMPENSATION $2,598,791
AGE 60
TENURE AS CEO 15.6 years
CEO Bio

Mr. James A. Hughes serves as President and Chief Executive Officer at Unity Bancorp, Inc. and has been its Director since 2002. He serves as President and Chief Executive Officer at Unity Bank and serves as its Director since 2002. He began his career at Unity Bank in December 2000 as Executive Vice President and Chief Financial Officer and in 2003 was appointed to his current position. He was Senior Vice President of Finance at Summit Bancorp, Princeton, having worked his way up through various positions beginning in August 1989 and also worked in public accounting for KPMG. He graduated from Mount St. Mary’s College with a B.S. in Accounting/Finance; received his M.B.A. in Finance and Master's in Business Administration and Management in the year 1981-1983 from Seton Hall University. He became a Certified Public Accountant and has been an active Member of the Financial Executives Institute. In addition, he was a part-time accounting professor at the New Brunswick campus of Rutgers University. He has served as an active Member of the Community Bankers Association of New Jersey in various officer positions and is a Board Trustee of the Center for Hope Hospice & Palliative Care of Scotch Plains.

CEO Compensation
  • Jim's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Jim's remuneration is higher than average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the Unity Bancorp management team in years:

15.6
Average Tenure
62
Average Age
  • The average tenure for the Unity Bancorp management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

David Dallas

TITLE
Founder & Chairman of the Board
COMPENSATION
$91K
AGE
64

Jim Hughes

TITLE
President
COMPENSATION
$3M
AGE
60
TENURE
15.6 yrs

Robert Dallas

TITLE
Founder & Director
COMPENSATION
$80K
AGE
72

Alan Bedner

TITLE
Executive VP & CFO
COMPENSATION
$487K
AGE
48
TENURE
15.6 yrs

John Kauchak

TITLE
Executive VP & COO
COMPENSATION
$479K
AGE
66
TENURE
17.6 yrs

Janice Bolomey

TITLE
Executive VP & Chief Administrative Officer
COMPENSATION
$483K
AGE
51
TENURE
6.6 yrs

David Bove

TITLE
Senior VP & CTO

Christopher Fenimore

TITLE
First VP & Chief Compliance Officer

Michelle Kirmser

TITLE
First VP & General Counsel

Rosemary Fellner

TITLE
Senior VP & Chief Marketing Officer
Board of Directors Tenure

Average tenure and age of the Unity Bancorp board of directors in years:

16.4
Average Tenure
65
Average Age
  • The average tenure for the Unity Bancorp board of directors is over 10 years, this suggests they are a seasoned and experienced board.
Board of Directors

David Dallas

TITLE
Founder & Chairman of the Board
COMPENSATION
$91K
AGE
64
TENURE
19 yrs

Jim Hughes

TITLE
President
COMPENSATION
$3M
AGE
60
TENURE
17.6 yrs

Allen Tucker

TITLE
Vice Chairman of the Board
COMPENSATION
$89K
AGE
92
TENURE
19 yrs

Robert Dallas

TITLE
Founder & Director
COMPENSATION
$80K
AGE
72
TENURE
25.6 yrs

Mark Brody

TITLE
Director
COMPENSATION
$82K
AGE
66
TENURE
17.6 yrs

Peter Maricondo

TITLE
Director
COMPENSATION
$84K
AGE
72
TENURE
15.1 yrs

Mary Gross

TITLE
Director
COMPENSATION
$83K
AGE
58
TENURE
8.5 yrs

Wayne Courtright

TITLE
Director
COMPENSATION
$86K
AGE
71
TENURE
15.2 yrs

Raj Patel

TITLE
Director
COMPENSATION
$80K
AGE
64
TENURE
10.8 yrs

Donald Souders

TITLE
Director
COMPENSATION
$74K
AGE
53
TENURE
5.3 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month open market individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
26. Feb 19 Sell Wayne Courtright Individual 22. Feb 19 25. Feb 19 -1,675 $21.14 $-35,410
17. Dec 18 Buy James Hughes Individual 14. Dec 18 14. Dec 18 961 $20.82 $20,008
X
Management checks
We assess Unity Bancorp's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Unity Bancorp has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Should You Be Adding Unity Bancorp (NASDAQ:UNTY) To Your Watchlist Today?

As a result, I'm encouraged by the fact that insiders own Unity Bancorp shares worth a considerable sum. … You can't deny that Unity Bancorp has grown its earnings per share at a very impressive rate. … Of course, you can do well (sometimes) buying stocks that are not growing earnings and do not have insiders buying shares.

Simply Wall St -

Does Unity Bancorp, Inc. (NASDAQ:UNTY) Have A Good P/E Ratio?

The formula for price to earnings is: Price to Earnings Ratio = Price per Share ÷ Earnings per Share (EPS) Or for Unity Bancorp: P/E of 10.36 = $21.6 ÷ $2.09 (Based on the trailing twelve months to March 2019.) Is A High P/E Ratio Good? … The higher the P/E ratio, the higher the price tag of a business, relative to its trailing earnings. … The Bottom Line On Unity Bancorp's P/E Ratio Unity Bancorp has a P/E of 10.4.

Simply Wall St -

Announcing: Unity Bancorp (NASDAQ:UNTY) Stock Increased An Energizing 153% In The Last Five Years

One way to examine how market sentiment has changed over time is to look at the interaction between a company's share price and its earnings per share (EPS). … Over half a decade, Unity Bancorp managed to grow its earnings per share at 30% a year. … A Different Perspective Unity Bancorp shareholders are down 9.5% for the year (even including dividends), but the market itself is up 6.6%.

Simply Wall St -

How Many Unity Bancorp, Inc. (NASDAQ:UNTY) Shares Have Insiders Sold, In The Last Year?

View our latest analysis for Unity Bancorp Unity Bancorp Insider Transactions Over The Last Year The President, James Hughes, made the biggest insider sale in the last 12 months. … All up, insiders sold more shares in Unity Bancorp than they bought, over the last year. … Insider Ownership of Unity Bancorp Many investors like to check how much of a company is owned by insiders.

Simply Wall St -

Do Directors Own Unity Bancorp, Inc. (NASDAQ:UNTY) Shares?

Institutions often own shares in more established companies, while it's not unusual to see insiders own a fair bit of smaller companies. … Unity Bancorp is a smaller company with a market capitalization of US$231m, so it may still be flying under the radar of many institutional investors. … institutions own shares in the company

Simply Wall St -

Does Unity Bancorp (NASDAQ:UNTY) Deserve A Spot On Your Watchlist?

As a tree reaches steadily for the sky, Unity Bancorp's EPS has grown 25% each year, compound, over three years. … I note that Unity Bancorp's revenue from operations was lower than its revenue in the last twelve months, so that could distort my analysis of its margins. … While we note Unity Bancorp's EBIT margins were flat over the last year, revenue grew by a solid 15% to US$60m.

Simply Wall St -

How Should Investors Feel About Unity Bancorp, Inc.'s (NASDAQ:UNTY) CEO Pay?

First, this article will compare CEO compensation with compensation at similar sized companies. … How Does Jim Hughes's Compensation Compare With Similar Sized Companies. … has a market cap of US$210m, and is paying total annual CEO compensation of US$2.6m.

Simply Wall St -

How Does Unity Bancorp, Inc. (NASDAQ:UNTY) Fare As A Dividend Stock?

Historically, Unity Bancorp, Inc. … Does Unity Bancorp tick all the boxes of a great dividend stock? … Check out our latest analysis for Unity Bancorp

Simply Wall St -

Can You Imagine How Chuffed Unity Bancorp's Shareholders Feel About Its 194% Share Price Gain?

One way to examine how market sentiment has changed over time is to look at the interaction between a company's share price and its earnings per share (EPS). … During five years of share price growth, Unity Bancorp achieved compound earnings per share (EPS) growth of 33% per year. … The EPS growth is more impressive than the yearly share price gain of 24% over the same period.

Simply Wall St -

Read This Before Buying Unity Bancorp, Inc. (NASDAQ:UNTY) Shares

We've lost count of how many times insiders have accumulated shares in a company that goes on to improve markedly. … (NASDAQ:UNTY), you may well want to know whether insiders have been buying or selling. … But logic dictates you should pay some attention to whether insiders are buying or selling shares.

Simply Wall St -

Company Info

Description

Unity Bancorp, Inc. operates as the holding company for Unity Bank that provides a range of banking products and services to individuals, small and medium sized businesses, and professional communities. The company offers personal and business checking accounts, time deposits, money market accounts, and regular savings accounts. It also provides commercial, small business administration, consumer, mortgage, home equity, and personal loans. As of December 31, 2018, the company offered its financial services through 19 branch offices located in Bergen, Hunterdon, Middlesex, Somerset, Union, and Warren Counties in New Jersey, as well as Northampton County, Pennsylvania. Unity Bancorp, Inc. was founded in 1991 and is headquartered in Clinton, New Jersey.

Details
Name: Unity Bancorp, Inc.
UNTY
Exchange: NasdaqGM
Founded: 1991
$219,381,595
10,860,475
Website: http://www.unitybank.com
Address: Unity Bancorp, Inc.
64 Old Highway 22,
Clinton,
New Jersey, 08809,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NasdaqGM UNTY Common Stock Nasdaq Global Market US USD 21. Nov 1995
Number of employees
Current staff
Staff numbers
200
Unity Bancorp employees.
Industry
Regional Banks
Banks
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/08/19 23:45
End of day share price update: 2019/08/19 00:00
Last estimates confirmation: 2019/07/19
Last earnings filing: 2019/08/06
Last earnings reported: 2019/06/30
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.