Unity Bancorp (UNTY) Reports Q1 Earnings: What Key Metrics Have to Say

For the quarter ended March 2024, Unity Bancorp (UNTY) reported revenue of $25.56 million, up 0.9% over the same period last year. EPS came in at $0.93, compared to $0.96 in the year-ago quarter.

The reported revenue represents a surprise of +1.63% over the Zacks Consensus Estimate of $25.15 million. With the consensus EPS estimate being $0.91, the EPS surprise was +2.20%.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.

Here is how Unity Bancorp performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

  • Net interest margin: 4.1% versus 4% estimated by two analysts on average.
  • Efficiency Ratio: 47.6% versus 47.3% estimated by two analysts on average.
  • Total Noninterest Income: $1.72 million versus the two-analyst average estimate of $1.77 million.
  • Net Interest Income: $23.84 million versus $23.43 million estimated by two analysts on average.
View all Key Company Metrics for Unity Bancorp here>>>

Shares of Unity Bancorp have returned -3% over the past month versus the Zacks S&P 500 composite's +1.6% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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