Piper Sandler lowered the firm’s price target on Unity Bancorp (UNTY) to $50 from $54 and keeps an Overweight rating on the shares following quarterly results. The firm notes Unity put up a strong start to 2025 with a 6c revenue beat driven by margin expansion that outpaced expectations while the bank also registered its strongest quarter of loan growth in over 2 years. Core profitability progressed higher through all of 2024, and this trend continued through Q1 2025 with a core ROA of 1.86% posted in the period. The bank continues to demonstrate a peer-leading return profile, and is positioned well with a very strong capital and liquidity base while credit quality remains in check, Piper adds.
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