In recent trading activity, Gill Jagroop, a director at United Security Bancshares, has made notable purchases of the company’s stock, as indicated by the latest filings with the Securities and Exchange Commission. Jagroop acquired a total of 3,659 shares of United Security Bancshares (NASDAQ:UBFO) common stock at a price of $7.25 per share, amounting to a total investment of $26,527.
These transactions took place over two consecutive days, with 2,344 shares bought on May 29, 2024, and an additional 1,315 shares on May 30, 2024. Following these purchases, Jagroop's direct holdings in the company now total 1,065,071 shares, which are held in a trust.
United Security Bancshares, based in Fresno, California, operates as the bank holding company for United Security Bank, a state-chartered bank that provides a range of commercial banking services primarily in the central California market.
The recent acquisitions by Director Gill Jagroop demonstrate a positive stance towards the company's stock, with the director increasing his position significantly. Investors often look to insider buying as a sign of confidence in the company's future prospects.
The stock transactions are part of the public record and provide transparency into the actions of the company's directors and executives. Shareholders and potential investors can access this information to better understand the investment decisions made by company insiders.
InvestingPro Insights
Amidst the recent insider buying by Gill Jagroop, United Security Bancshares (NASDAQ:UBFO) presents several financial metrics worth considering. The company's market capitalization stands at a modest 125.54 million USD, and it trades at an earnings multiple (P/E Ratio) of 7.04 based on the last twelve months as of Q1 2024. This low earnings multiple suggests that the stock may be undervalued relative to its earnings, which is a point of interest for value investors.
United Security Bancshares also offers a significant dividend yield of 6.62%, highlighting the company's commitment to returning value to shareholders. This is particularly appealing to income-focused investors, especially considering the company's dividend growth of 9.09% over the last twelve months as of Q1 2024. The InvestingPro Tips indicate that while the company suffers from weak gross profit margins, it has been profitable over the last twelve months, which can be reassuring for investors looking for stability in earnings.
For those interested in gaining a deeper understanding of United Security Bancshares' financial health and future prospects, there are additional InvestingPro Tips available. These insights could provide further clarity on the company's performance and help investors make more informed decisions. To access these additional tips, visit the company's page on Investing.com at https://www.investing.com/pro/UBFO and use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
Investors monitoring the company's stock performance will note that despite a year-to-date price total return of -11.13%, the one-year price total return as of the date provided is an impressive 21.62%, suggesting a recovery and potential growth over the longer term. These metrics, combined with the insider buying activity, could signal a bullish outlook for the company.
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