On Tuesday, Unity Bancorp got an upgrade for its IBD SmartSelect Composite Rating from 93 to 96.
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The revised score means the stock currently tops 96% of all other stocks in terms of key performance metrics and technical strength. The market's biggest winners often have a 95 or higher score in the early stages of a new price run, so that's an important benchmark to look for when looking for the best stocks to buy and watch.
Unity Bancorp is not currently near a proper buy zone. See if the stock goes on to form a new base and offer a new buying opportunity. Be aware that it is a thinly traded stock, with average daily dollar volume under $8 million.
The stock earns a 96 EPS Rating, meaning its recent quarterly and longer-term annual earnings growth tops 96% of all stocks.
Its Accumulation/Distribution Rating of B- shows moderate buying by institutional investors over the last 13 weeks.
In Q2, the company posted 73% earnings growth. That means it's now generated five straight quarters of rising EPS gains. Revenue growth increased 35%, up from 15% in the prior quarter. That marks two quarters of rising growth. The company's next quarterly report is expected on or around Oct. 10.
Unity Bancorp holds the No. 2 rank among its peers in the Banks-Northeast industry group. The Bancorp is the top-ranked stock within the group.
This article was created automatically with Stats Perform's Wordsmith software using data and article templates supplied by Investor's Business Daily. An IBD journalist may have edited the article.
