FRESNO, CA – In a recent transaction on June 4, Jagroop Gill, a board director at United Security Bancshares (NASDAQ:UBFO), increased his stake in the company by purchasing additional shares. The transaction involved buying 839 shares at a price of $7.25 per share, amounting to a total investment of $6,082.50.
United Security Bancshares, a financial institution specializing in national commercial banking, saw this purchase as a sign of Gill's continued commitment to the company. Following the transaction, Gill now owns a total of 1,066,162 shares in the bank.
Investors often keep an eye on insider transactions as they can provide indications of a company’s health and the confidence that executives and directors have in the business's future prospects. Gill's purchase at the $7.25 price point suggests a positive outlook on the bank's value.
Transactions like these are public information and can be found documented in the company's filings. For those interested in the specifics, the details of the trade are available for review, providing transparency into the actions of the company's insiders.
As United Security Bancshares continues its operations, stakeholders will be watching closely to see how insider trading activity such as this aligns with the company's performance in the financial sector.
InvestingPro Insights
In light of the recent insider transaction at United Security Bancshares (NASDAQ:UBFO), where board director Jagroop Gill increased his stake in the company, it's pertinent to consider the financial metrics and market performance that may be influencing such decisions. According to InvestingPro data, United Security Bancshares has a market capitalization of 125.54 million USD and is trading at a P/E ratio of 6.97, which may suggest the shares are trading at a low earnings multiple.
One of the InvestingPro Tips indicates that the company pays a significant dividend to shareholders, with a notable dividend yield of 6.61% as of the latest data. This could be a factor in Gill's decision to purchase additional shares, as it represents a tangible return on investment. Additionally, the company has been profitable over the last twelve months, which aligns with the positive sentiment that insider purchases like Gill's can signal to the market.
While United Security Bancshares has shown weak gross profit margins, the overall financial health of the company may be appealing to investors looking for value and income-generating opportunities. For those seeking more in-depth analysis, there are additional InvestingPro Tips available at https://www.investing.com/pro/UBFO, which can provide further insights into the company's financials and market position. To access these valuable tips, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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