In a recent transaction, Jagroop Gill, a director at United Security Bancshares (NASDAQ:UBFO), purchased shares of the company's common stock. The transaction, which occurred on June 3, 2024, involved the acquisition of 252 shares at a price of $7.25 per share, amounting to a total investment of $1,827.
This purchase by Gill reflects a continued interest in the bank holding company, which operates primarily through its subsidiary, United Security Bank, serving the Central Valley of California. As a result of this transaction, Gill's total ownership in United Security Bancshares has reached 1,065,323 shares.
Investors often monitor insider transactions such as these to gain insights into the confidence levels of company executives and directors in the firm's prospects. While the purchase may not be large in comparison to the overall market capitalization of the company, it does offer a glimpse into the actions of those who are in a position to have informed opinions about the company's future.
United Security Bancshares has not issued any public statements regarding this recent purchase by Director Gill. The company continues its operations with the goal of providing a range of financial services to its customer base, including retail and commercial banking services.
Shareholders and potential investors in United Security Bancshares can stay updated on insider transactions, which are regularly reported to the Securities and Exchange Commission. These filings provide transparency and can be a useful tool for those looking to make informed decisions regarding their investments in the company.
InvestingPro Insights
Amidst the recent insider purchase by Director Jagroop Gill at United Security Bancshares, investors may find additional context through key metrics and insights. United Security Bancshares is currently trading at an earnings multiple of 7.05, based on the last twelve months as of Q1 2024, which suggests the stock may be undervalued compared to industry peers. This aligns with an InvestingPro Tip highlighting the company's low earnings multiple, potentially indicating an attractive investment opportunity for value-oriented investors.
Furthermore, the company's dedication to returning value to shareholders is evident with a robust dividend yield of 6.61% as of the latest data. The commitment to shareholder returns is reinforced by a dividend growth of 9.09% over the last twelve months, as of Q1 2024. This is consistent with another InvestingPro Tip that points out United Security Bancshares' significant dividend to shareholders, which could be particularly appealing to income-focused investors.
InvestingPro data also reveals a solid operating income margin of 49.96% for the same period, indicating efficient management and profitability. However, it is important to consider that the company has experienced a slight revenue decline of 1.2% over the last twelve months as of Q1 2024, which may warrant a closer look by those analyzing the company's growth trajectory.
For investors seeking a deeper dive into United Security Bancshares' financial health and future prospects, additional InvestingPro Tips are available, providing exclusive insights that could further inform investment decisions. Readers can access these tips and more detailed analysis by visiting https://www.investing.com/pro/UBFO and may use the coupon code PRONEWS24 to receive an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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