COLUMBUS GROVE, Ohio - United Bancshares, Inc. (OTCQX: UBOH) announced a quarterly cash dividend of $0.22 per share, payable on March 17, 2025, to shareholders of record as of February 28, 2025. The dividend yield based on the fourth quarter's average closing price is 3.93%. According to InvestingPro data, the company has maintained dividend payments for 13 consecutive years, with a current annual dividend yield of 3.18%.
The company reported a net income of $3.0 million, or $1.02 per share, for the fourth quarter of 2024, marking a $680,000 increase from the $2.3 million, or $0.77 per share, earned in the same period in 2023. The year-to-date net income for 2024 reached $9.2 million, or $3.06 per share, up from $8.6 million, or $2.80 per share, in the previous year. With a P/E ratio of 9.61 and a market capitalization of $80.32 million, InvestingPro analysis suggests the stock is currently trading near its Fair Value.
United Bancshares saw a return on average assets of 0.98% in the fourth quarter of 2024, an improvement from 0.88% in the corresponding quarter of 2023. However, the return on average tangible equity decreased to 17.27% in the fourth quarter of 2024 from 19.28% in 2023.
The company experienced loan growth of $58.2 million, an 8.2% increase, and deposit growth of $118.3 million, a 12.4% rise, both as of December 31, 2024. Asset quality metrics remained strong, with stable non-performing and classified loans and historically low charge-offs through the end of 2024.
United Bancshares, Inc., through its subsidiary The Union Bank Company, operates 14 full-service branches across Northwest and Central Ohio and has been serving these communities since 1904. The stock has shown remarkable strength with a 50.25% return over the past year, according to InvestingPro, which offers additional insights through its comprehensive financial analysis tools.
The press release also noted the passing of David Roach, a Director at United Bancshares, Inc. and The Union Bank Company since 2001, in December 2024.
This news is based on a press release statement.
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