DA Davidson starts coverage on 2 regional banks with 'neutral' rating

Unity Bancorp

15/05/2026 13:24

** DA Davidson initiates coverage on regional lenders Eastern Bankshares EBC.O and Unity Bancorp UNTY.O with "neutral" ratings and sets PTs of $24 & $68, respectively

** "We believe EBC will utilize 2026 to establish a foundation of reporting clean results after years of complexity," brokerage says

** Adds that the firm has a solid wealth management business, strong core deposit franchise and compelling relative valuation

** UNTY has shaped an organic growth engine with enviable profitability and efficiency metrics resulting in strong capital accretion - Brokerage

** Adds that the company has found the sweet spot for a bank to achieve elevated profitability based on the existing footprint, customer base, competitive dynamics, etc

** As of last close, EBC up 5.4% YTD and UNTY up 1.6% YTD

 (Reporting by Pragyan Kalita in Bengaluru)

 ((Pragyan.Kalita@thomsonreuters.com;))