In a recent transaction reported on June 21, Gary W. Glessner, a director at United Bancorp Inc. (NASDAQ:UBCP), acquired additional shares of the company. Glessner purchased 580 shares of common stock at a price of $12.16 per share, totaling $7,052. This purchase has increased his direct ownership in the company to 91,040 shares.
The transaction, which took place on the same day as deemed execution, is part of the latest financial disclosures filed with the U.S. Securities and Exchange Commission. The filing was signed by Randall Greenwood on June 24, indicating the formal recording of the transaction.
Investors often monitor insider buying and selling as it can provide insights into how executives and directors view the company's stock value and future prospects. The recent purchase by Glessner may be interpreted as a sign of confidence in the financial institution's future performance and stability.
United Bancorp Inc., headquartered in Martins Ferry, Ohio, operates as a state commercial bank and provides various banking products and services. The company's stock trades on the NASDAQ under the ticker symbol UBCP.
In other recent news, United Bancorp has announced an increase in its quarterly dividend to $0.175 per share, a 6.1% rise from the same quarter of the previous year. This latest increase contributes to a total cash dividend of $0.4975 per share for the first half of the current year. The bank's Board of Directors, re-elected at the annual meeting, declared this dividend for shareholders on record as of June 10, 2024, with the payment scheduled for June 20, 2024.
In further developments, United Bancorp reported total assets of $819.4 million and total shareholder's equity of $63.6 million as of December 31, 2023. The bank, operating through its subsidiary Unified Bank, maintains eighteen offices across several Ohio counties and extends into Marshall County in West Virginia. As these are recent events, investors are advised to keep a close eye on United Bancorp's activities.
InvestingPro Insights
Amidst the backdrop of insider activity, United Bancorp Inc. (NASDAQ:UBCP) shows a mix of financial metrics that may interest investors. With a market capitalization of $77.4M, the company trades at a price-to-earnings (P/E) ratio of 8.23, which slightly increases to 8.91 when adjusted for the last twelve months as of Q1 2024. This valuation comes as analysts express concerns over an anticipated sales decline in the current year, which is mirrored in the quarterly revenue growth figure showing a decrease of 6.16%.
On the brighter side, United Bancorp has demonstrated a commitment to returning value to shareholders, maintaining dividend payments for 32 consecutive years, and raising its dividend for the past four years. The dividend yield stands at an attractive 8.58% as of mid-2024, supported by a dividend growth of 7.35% over the last twelve months. This consistent dividend policy may appeal to income-focused investors, especially when considering the company's profitability over the last year.
For those considering an investment in United Bancorp, it’s worth noting that the company has faced a price decline of over 15% in the past three months. However, with a director's recent acquisition of additional shares, some may see potential value at these lower price levels. For a more comprehensive analysis, PRONEWS24 can be used to receive an additional 10% off a yearly or biyearly Pro and Pro+ subscription, unlocking access to 9 additional InvestingPro Tips, which delve deeper into United Bancorp's performance and projections.
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