In a recent move that signals confidence in United Bancorp Inc (NASDAQ:UBCP), director John M. Hoopingarner purchased shares worth $10,751. The transaction, dated June 21, 2024, involved buying 872 shares of the company's common stock at a price of $12.33 each.
The acquisition increases Hoopingarner's holdings to a total of 45,718 shares in United Bancorp, the Ohio-based state commercial bank. This financial activity comes as a substantial investment by a key insider, often seen as a positive indicator by market observers.
United Bancorp, with its headquarters in Martins Ferry, Ohio, operates as the bank holding company for The Citizens Savings Bank, which provides a range of retail and commercial banking products and services. The bank has been serving the financial needs of its community and maintaining a solid presence in the region.
Investors and stakeholders often monitor insider transactions such as these to gain insights into the company's potential future performance. While insider buying does not guarantee future stock appreciation, it can suggest that executives and directors are optimistic about the company's outlook.
The transaction was officially filed on June 24, 2024, and the details were disclosed through a Form 4 filing with the Securities and Exchange Commission. United Bancorp's shares are publicly traded on the NASDAQ stock exchange under the ticker symbol UBCP.
"In other recent news, United Bancorp, Inc. has raised its quarterly dividend to $0.175 per share, a 6.1% increase from the same quarter of the previous year. This latest increase contributes to a total cash dividend of $0.4975 per share paid in the first half of the current year, inclusive of a special dividend of $0.15 in the first quarter. The company's Board of Directors, re-elected at the annual meeting, declared shareholders on record as of June 10, 2024, will be eligible for the dividend, scheduled for payment on June 20, 2024. The regular cash dividend now yields 4.84% based on United Bancorp's quarter-end market value of $14.47. In other developments, the company reported total assets of $819.4 million and total shareholder's equity of $63.6 million as of December 31, 2023. These are among the recent developments for United Bancorp, Inc."
InvestingPro Insights
United Bancorp Inc's (NASDAQ:UBCP) recent insider purchase by director John M. Hoopingarner has been complemented by a broader financial perspective based on data from InvestingPro. With a market capitalization of $77.4 million and a P/E ratio standing at 8.23, United Bancorp appears to be trading at a valuation that could attract investors looking for potentially undervalued stocks.
From a dividend perspective, the company's commitment to shareholder returns is evident. United Bancorp has not only raised its dividend for four consecutive years, but it has also maintained dividend payments for an impressive 32 years. The current dividend yield is substantial at 8.58%, a feature that dividend-seeking investors might find particularly appealing.
However, challenges are also present. Analysts have raised concerns about the company's near-term sales growth, anticipating a decline in the current year. Additionally, the company's net income is expected to drop, and it has been suffering from weak gross profit margins. These factors are reflected in the company's price performance, which has seen a significant fall of 15.07% over the last three months.
For those interested in a deeper analysis, there are additional InvestingPro Tips available for United Bancorp, providing a more nuanced view of the company's financial health and market position. To explore further and get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, investors can use the coupon code PRONEWS24. There are 9 more InvestingPro Tips waiting to guide your investment decisions, available at: https://www.investing.com/pro/UBCP
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