Unity Bancorp Surpasses Q3 Earnings and Revenue Estimates
Unity Bancorp (NASDAQ: UNTY) came out with quarterly earnings of $1.07 per share, beating the Zacks Consensus Estimate of $0.97 per share. This compares to earnings of $0.97 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of 10.31%. A quarter ago, it was expected that this bank holding company would post earnings of $0.94 per share when it actually produced earnings of $0.93, delivering a surprise of -1.06%.
Over the last four quarters, the company has surpassed consensus EPS estimates three times.
Unity Bancorp, which belongs to the Zacks Banks – Northeast industry, posted revenues of $27.66 million for the quarter ended September 2024, surpassing the Zacks Consensus Estimate by 4.79%. This compares to year-ago revenues of $25.58 million. The company has topped consensus revenue estimates three times over the last four quarters.
The sustainability of the stock’s immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management’s commentary on the earnings call.
Unity Bancorp …
Full story available on Benzinga.com
