Unity Bancorp (NASDAQ:UNTY) Third Quarter 2024 Results
Key Financial Results
- Revenue: US$26.6m (up 6.1% from 3Q 2023).
- Net income: US$10.9m (up 9.6% from 3Q 2023).
- Profit margin: 41% (up from 40% in 3Q 2023). The increase in margin was driven by higher revenue.
- EPS: US$1.09 (up from US$0.98 in 3Q 2023).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Unity Bancorp Revenues and Earnings Beat Expectations
Revenue exceeded analyst estimates by 6.0%. Earnings per share (EPS) also surpassed analyst estimates by 13%.
Looking ahead, revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 6.4% growth forecast for the Banks industry in the US.
Performance of the American Banks industry.
The company's shares are up 7.0% from a week ago.
Risk Analysis
You should learn about the 1 warning sign we've spotted with Unity Bancorp.
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About NasdaqGM:UNTY
Unity Bancorp
Operates as a bank holding company for Unity Bank that provides range of commercial and retail banking services to individuals, small and medium sized businesses, and professional communities.
Flawless balance sheet, undervalued and pays a dividend.
