Unity Bancorp saw an improvement in its IBD SmartSelect Composite Rating Wednesday, from 94 to 96.
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The new score tells you the company is now outperforming 96% of all stocks in terms of the most important fundamental and technical stock-picking criteria. The best stocks tend to have a 95 or better grade as they begin to launch a significant move so be sure to keep that in mind when looking for the best stocks to buy and watch.
Unity Bancorp is currently forming a cup without handle, with a 51.22 buy point. See if the stock can break out in heavy trade at least 40% above average. Be aware that it is a thinly traded stock, with average daily dollar volume under $8 million. Such stocks may experience more volatility than large-cap stocks.
The stock earns a 93 EPS Rating, which means its recent quarterly and annual earnings growth is outpacing 93% of all stocks.
Its Accumulation/Distribution Rating of A- shows heavy buying by institutional investors over the last 13 weeks.
In Q1, the company reported 22% earnings growth. It has now posted accelerating EPS increases for four consecutive quarters. Sales growth climbed 15%, up from 7% in the prior report. That marks one quarter of increasing revenue increases. The company's next quarterly report is expected on or around Jul. 11.
Unity Bancorp earns the No. 2 rank among its peers in the Banks-Northeast industry group. Capital Bancorp is the No. 1-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.
