United Security Bancshares (NASDAQ:UBFO) Releases Quarterly Earnings Results

Key Points

• United Security Bancshares (NASDAQ:UBFO) reported a quarterly earnings per share (EPS) of $0.23, with a net margin of 17.07% and return on equity of 8.43%.
• The company declared a quarterly dividend of $0.12 per share, amounting to an annualized yield of 5.6%, set to be paid on October 21st.
• UBFO has been rated as a "buy" by Weiss Ratings, while Wall Street Zen downgraded it to a "sell," indicating mixed outlooks from analysts.

United Security Bancshares (NASDAQ:UBFO - Get Free Report) released its earnings results on Thursday. The financial services provider reported $0.23 EPS for the quarter, Zacks reports. United Security Bancshares had a net margin of 17.07% and a return on equity of 8.43%.

United Security Bancshares Price Performance

UBFO traded down $0.29 during trading on Thursday, reaching $8.54. 28,250 shares of the stock were exchanged, compared to its average volume of 35,094. The business's 50 day moving average price is $9.26 and its two-hundred day moving average price is $8.82. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.94 and a quick ratio of 0.94. The company has a market capitalization of $149.28 million, a price-to-earnings ratio of 12.94 and a beta of 0.42. United Security Bancshares has a 1 year low of $7.32 and a 1 year high of $10.49.

United Security Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 21st. Shareholders of record on Friday, October 3rd will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 5.6%. The ex-dividend date is Friday, October 3rd. United Security Bancshares's payout ratio is presently 72.73%.

Analysts Set New Price Targets

UBFO has been the topic of several research reports. Weiss Ratings restated a "buy (b-)" rating on shares of United Security Bancshares in a research report on Wednesday, October 8th. Wall Street Zen lowered shares of United Security Bancshares from a "hold" rating to a "sell" rating in a research note on Friday, July 18th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy".

Insider Activity

In related news, Director Jagroop Gill acquired 55,814 shares of United Security Bancshares stock in a transaction dated Thursday, August 7th. The shares were acquired at an average cost of $8.34 per share, for a total transaction of $465,488.76. Following the completion of the transaction, 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 transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 22.10% of the stock is owned by corporate insiders.

Institutional Trading of United Security Bancshares

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Bridgeway Capital Management LLC lifted its position in shares of United Security Bancshares by 1.4% in the second quarter. Bridgeway Capital Management LLC now owns 143,441 shares of the financial services provider's stock valued at $1,241,000 after acquiring an additional 1,933 shares in the last quarter. Bank of America Corp DE lifted its position in United Security Bancshares by 1,292.4% during the fourth quarter. Bank of America Corp DE now owns 3,648 shares of the financial services provider's stock worth $37,000 after buying an additional 3,386 shares during the period. BNP Paribas Financial Markets purchased a new position in United Security Bancshares during the second quarter worth about $29,000. Empowered Funds LLC lifted its position in 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 buying an additional 4,068 shares during the period. Finally, JPMorgan Chase & Co. lifted its position in United Security Bancshares by 7,061.3% during the second quarter. JPMorgan Chase & Co. now owns 6,660 shares of the financial services provider's stock worth $58,000 after buying an additional 6,567 shares during the period. 30.88% of the stock is currently owned by hedge funds and other 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.

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