Director of United Bancorp Inc. (NASDAQ:UBCP), Bethany E. Schunn, has recently purchased shares of the company's common stock, indicating a notable transaction for investors tracking insider activities. On June 21, Schunn acquired 1,569 shares at a price of $12.33 per share, totaling an investment of $19,345.
The transaction reflects a significant addition to Schunn's holdings in the Ohio-based state commercial bank, bringing her total to 15,688 shares following the purchase. This move by a member of the company's board is often seen by the market as a sign of confidence in the institution's future prospects and financial health.
United Bancorp, recognized by its trading symbol UBCP, has not released any statements regarding the transaction. The purchase was made public through a Form 4 filing with the Securities and Exchange Commission, which provides transparency on insider trades.
Investors and market analysts often monitor such insider transactions as they may provide insights into the company's performance and insider perspectives on its valuation. The acquisition of shares by a director like Schunn can be interpreted as a positive indicator by those looking for signs of internal optimism about the company's direction and strategy.
For more details on the transaction, investors can refer to the full Form 4 filing available on the SEC's website.
In other recent news, United Bancorp has announced an increase in its quarterly dividend to $0.175 per share, marking a 6.1% rise from the same quarter of the preceding year. This contributes to a total cash dividend of $0.4975 per share paid in the first half of the current year, including a special dividend of $0.15 in the first quarter. The dividend is set for payment on June 20, 2024, to shareholders on record as of June 10, 2024.
In further developments, the company's annual meeting resulted in the re-election of its Board of Directors, including Scott A. Everson, the current President and CEO, and Richard L. Riesbeck, the Chairman of the UBCP Board, among others. United Bancorp, operating through its subsidiary Unified Bank, 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 latest developments for United Bancorp, an Ohio-based bank holding company. The bank, which operates eighteen offices across several Ohio counties and extends into Marshall County in West Virginia, continues to make strategic financial decisions in the current year.
InvestingPro Insights
Amid the recent news of Director Bethany E. Schunn's purchase of United Bancorp Inc. (NASDAQ:UBCP) shares, investors seeking deeper insights might consider several key metrics and tips from InvestingPro. The company, which has a current market capitalization of 77.4 million USD, is trading at a P/E ratio of 8.23, suggesting a valuation that may be attractive to value investors. Additionally, United Bancorp's dividend yield stands at a substantial 8.58%, a figure that is particularly appealing for income-focused portfolios.
On the performance front, despite a modest revenue growth of 0.06% over the last twelve months as of Q1 2024, the company has experienced a quarterly revenue decline of 6.16% in Q1 2024. This mixed financial performance is reflected in the company's stock price, which has seen a 15.07% drop over the last three months. However, an InvestingPro Tip notes that United Bancorp has raised its dividend for 4 consecutive years and has maintained dividend payments for 32 consecutive years, underscoring its commitment to returning value to shareholders.
For those considering adding UBCP to their portfolio, it may be worthwhile to explore the additional 9 InvestingPro Tips available at https://www.investing.com/pro/UBCP. These tips could provide further guidance on the company's financial health and future prospects. Moreover, interested investors can use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, gaining access to a wealth of insights that could inform investment decisions.
While insider transactions like Schunn's recent purchase can signal confidence in a company, integrating real-time data and expert analysis from InvestingPro can offer a more comprehensive view of United Bancorp's current situation and future potential.
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