Jagroop Gill Buys 55,814 Shares of United Security Bancshares (NASDAQ:UBFO) Stock

Key Points

• Director Jagroop Gill of United Security Bancshares purchased 55,814 shares at an average price of $8.34, increasing their ownership by 4.55%.
• The firm recently announced a $0.12 quarterly dividend, resulting in an annual yield of 5.6% and a payout ratio of 72.73%.
• Analyst ratings for United Security Bancshares were downgraded from "hold" to "sell", indicating potential concerns regarding the stock's performance.

United Security Bancshares (NASDAQ:UBFO - Get Free Report) Director Jagroop Gill purchased 55,814 shares of the firm's stock in a transaction dated Thursday, August 7th. The shares were bought at an average cost of $8.34 per share, for a total transaction of $465,488.76. Following the completion of the purchase, the director directly owned 1,281,347 shares of the company's stock, valued at $10,686,433.98. The trade was a 4.55% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

United Security Bancshares Price Performance

Shares of UBFO traded up $0.30 during mid-day trading on Thursday, hitting $8.59. 95,327 shares of the company traded hands, compared to its average volume of 39,706. United Security Bancshares has a one year low of $7.32 and a one year high of $10.49. The stock has a market capitalization of $150.15 million, a price-to-earnings ratio of 13.02 and a beta of 0.39. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.09. The business has a 50-day moving average of $8.62 and a 200 day moving average of $8.92.

United Security Bancshares (NASDAQ:UBFO - Get Free Report) last announced its quarterly earnings data on Thursday, July 17th. The financial services provider reported $0.13 earnings per share (EPS) for the quarter. United Security Bancshares had a net margin of 17.07% and a return on equity of 8.46%. The firm had revenue of $12.62 million for the quarter.

United Security Bancshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 22nd. Shareholders of record on Monday, July 7th were paid a $0.12 dividend. The ex-dividend date of this dividend was Monday, July 7th. This represents a $0.48 dividend on an annualized basis and a yield of 5.6%. United Security Bancshares's dividend payout ratio (DPR) is presently 72.73%.

Analyst Ratings Changes

Separately, Wall Street Zen cut shares of United Security Bancshares from a "hold" rating to a "sell" rating in a research note on Friday, July 18th.

Hedge Funds Weigh In On United Security Bancshares

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Bridgewealth Advisory Group LLC bought a new position in United Security Bancshares in the second quarter valued at approximately $10,539,000. Goldman Sachs Group Inc. boosted its position in shares of United Security Bancshares by 64.3% during the first quarter. Goldman Sachs Group Inc. now owns 59,523 shares of the financial services provider's stock worth $533,000 after purchasing an additional 23,284 shares in the last quarter. Jane Street Group LLC boosted its position in shares of United Security Bancshares by 167.3% during the first quarter. Jane Street Group LLC now owns 46,490 shares of the financial services provider's stock worth $417,000 after purchasing an additional 29,096 shares in the last quarter. Empowered Funds LLC boosted its position in shares of United Security Bancshares by 7.9% during the first quarter. Empowered Funds LLC now owns 55,608 shares of the financial services provider's stock worth $498,000 after purchasing an additional 4,068 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd boosted its position in shares of United Security Bancshares by 20.6% during the first quarter. Y Intercept Hong Kong Ltd now owns 14,360 shares of the financial services provider's stock worth $129,000 after purchasing an additional 2,452 shares in the last quarter. 30.88% of the stock is owned by institutional investors.

About United Security Bancshares

United Security Bancshares operates as the bank holding company for United Security Bank, a state-chartered bank that provides a range of commercial banking services to the business and professional community, and individuals in California. The company accepts various deposit products, including personal and business checking accounts, savings accounts, interest-bearing negotiable order of withdrawal accounts, money market accounts, and time certificates of deposit.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.