Brian Tkacz, a director at United Security Bancshares (NASDAQ:UBFO), has recently sold 1,000 shares of the company's common stock. The transaction, which took place on April 24, 2024, was executed at an average price of $7.4071 per share, resulting in a total value of $7,407. Following the sale, Tkacz's remaining holdings in the company amount to 8,244 shares of common stock.
The sale by the director of United Security Bancshares is a notable event for investors and market watchers. The bank, which operates under the standard industrial classification of national commercial banks, is incorporated in California and has a fiscal year ending on December 31.
While the reasons behind Tkacz's decision to sell the shares have not been disclosed, such transactions are closely monitored by investors as they may provide insights into the director's view of the company's current valuation and future prospects. However, it is important to note that insider transactions can be motivated by a variety of factors and may not necessarily be indicative of the company's operational performance or financial health.
Investors in United Security Bancshares will likely continue to observe the trading activities of its directors and officers for any patterns or significant transactions that could impact their investment decisions. As of now, the company has not made any official statements regarding this recent transaction by Director Tkacz.
InvestingPro Insights
In light of the recent insider transaction at United Security Bancshares (NASDAQ:UBFO), where Director Brian Tkacz sold shares, investors may find it useful to consider key metrics and tips provided by InvestingPro to better understand the company's financial standing and market valuation.
InvestingPro Data reveals that United Security Bancshares has a market capitalization of $125.54 million and is trading at a P/E ratio of 6.97, which suggests the stock is trading at a low earnings multiple. Additionally, the company's dividend yield stands at a significant 6.62%, reflecting a commitment to returning income to shareholders.
InvestingPro Tips indicate that while United Security Bancshares pays a substantial dividend, it also suffers from weak gross profit margins. Nevertheless, it's noteworthy that the company has been profitable over the last twelve months, which could be a reassuring sign for investors assessing the company's earnings stability.
For those looking to delve deeper into the financials and strategic outlook of United Security Bancshares, there are additional InvestingPro Tips available at https://www.investing.com/pro/UBFO. As a special offer, investors can use the coupon code PRONEWS24 to receive an additional 10% off a yearly or biyearly Pro and Pro+ subscription, unlocking a wealth of valuable insights to inform their investment decisions.
With the company's next earnings date scheduled for July 17, 2024, stakeholders and potential investors may want to keep an eye on how the company's financials evolve, especially considering the recent insider selling activity. The insights and tips from InvestingPro could provide a more comprehensive picture of United Security Bancshares' potential and help investors make more informed decisions.
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