BIRMINGHAM, Ala.—Marlene M. McCain, a director at First US Bancshares, Inc. (NASDAQ:FUSB), recently sold shares totaling $5,742, according to a filing with the Securities and Exchange Commission.
The transactions took place over two days. On October 29, McCain sold 200 shares at $11.34 each. The following day, she sold an additional 300 shares in two separate transactions, 200 shares at $11.56 and 100 shares at $11.62. Following these sales, McCain holds 3,007 shares directly.
First US Bancshares, headquartered in Birmingham, Alabama, operates as a state commercial bank. The company continues to navigate the financial landscape, with this transaction reflecting ongoing activity in its stock by company insiders.
In other recent news, First US Bancshares announced a quarterly cash dividend of $0.05 per share. This marks the forty-first consecutive quarter the company has offered a dividend to its shareholders. The dividend will be payable on October 1, 2024, to shareholders on record as of September 13, 2024. The dividend policy, according to CEO James F. House, is subject to the discretion of the Board of Directors and will be assessed based on various factors, including the company's financial performance and market conditions.
In other significant news, the company has welcomed Robert C. Field to its Board of Directors and that of its subsidiary, First US Bank. Field's career spans over 35 years in various sectors, including real estate and banking, and his current role as a partner at the Welden-Field group. His appointment also extends to the Audit Committee and the Asset/Liability Committee.
These are the recent developments in First US Bancshares, marking a new chapter in its leadership. The company's periodic reports are filed with the U.S. Securities and Exchange Commission and are publicly available for further review.
InvestingPro Insights
First US Bancshares, Inc. (NASDAQ:FUSB) presents an interesting financial profile that adds context to the recent insider sale by director Marlene M. McCain. According to InvestingPro data, the company has a market capitalization of $65.73 million and trades at a P/E ratio of 7.77, which is relatively low compared to many in the banking sector.
An InvestingPro Tip highlights that FUSB has maintained dividend payments for 11 consecutive years, demonstrating a commitment to shareholder returns despite the challenging financial environment. This consistency may be attractive to income-focused investors, although the current dividend yield stands at a modest 1.75%.
The company's financial performance shows mixed signals. While FUSB is profitable over the last twelve months, another InvestingPro Tip indicates that it suffers from weak gross profit margins. This could explain the recent insider sale, as executives may be cautious about the company's near-term growth prospects.
FUSB's revenue for the last twelve months as of Q3 2023 was $40.31 million, with a slight growth of 0.96%. However, the quarterly revenue growth showed a decline of 1.99%, which might be a point of concern for investors.
For those interested in a deeper analysis, InvestingPro offers additional tips and metrics that could provide further insights into FUSB's financial health and market position. There are 4 more InvestingPro Tips available for FUSB, which could be valuable for investors looking to make informed decisions about this regional banking stock.
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