UBCP

United BancorpNasdaqCM:UBCP Stock Report

Market Cap

US$86.6m

7D

-0.3%

1Y

25.1%

Updated

22 Sep, 2021

Data

Company Financials +
UBCP fundamental analysis
Snowflake Score
Valuation4/6
Future Growth1/6
Past Performance4/6
Financial Health6/6
Dividends5/6

UBCP Overview

United Bancorp, Inc. operates as the bank holding company for Unified Bank that provides commercial and retail banking services in Ohio.

United Bancorp Competitors

Price History & Performance

Summary of all time highs, changes and price drops for United Bancorp
Historical stock prices
Current Share PriceUS$14.91
52 Week HighUS$11.80
52 Week LowUS$16.82
Beta0.43
1 Month Change1.78%
3 Month Change1.91%
1 Year Change25.08%
3 Year Change9.34%
5 Year Change33.72%
Change since IPO270.83%

Recent News & Updates

Aug 25

United Bancorp: 4.8% Dividend Yield After 3rd Hike This Year Reinforces Dividend Thesis

Dividend increased 3rd time in 2021, now 4.8% full-year yield, including February Special Dividend; Regular dividend run-rate 4.1%. Q2 strong results with 31% net income growth, after record EPS in FY2020. Strong 39-year dividend track record, 5 Special Dividends in last 5 years. Maintain $20 target [so total return of over 40%]; recent stock weakness a buying opportunity. Stock trading at only 1.2x trailing Price/Book; Book Value up 7% QoQ & 4% YoY, with high 18.1% capital adequacy, low NPLs, and excess provisioning.

Aug 23
United Bancorp's (NASDAQ:UBCP) Dividend Will Be Increased To US$0.15

United Bancorp's (NASDAQ:UBCP) Dividend Will Be Increased To US$0.15

United Bancorp, Inc. ( NASDAQ:UBCP ) has announced that it will be increasing its dividend on the 20th of September to...

Aug 05

United Bancorp: +31% Q2 EPS, 4.5% Dividend Yield, 18% EPS 5-Year CAGR, 50% Upside

Q2 strong results with 31% net income growth, after record EPS in FY2020. Attractive 4.5% dividend yield, strong 39-year dividend track record, 5 Special Dividends in last 5 years. Maintain $20 target [so total return of over 50%]; recent stock weakness in July a buying opportunity. Stock trading at only 1.1x trailing Price/Book - Book Value up 7% QoQ & 4% YoY, with high 18.1% capital adequacy, low NPLs, and excess provisioning. +18% EPS five-year CAGR, well managed with only five CEOs in 120-year history.

Shareholder Returns

UBCPUS BanksUS Market
7D-0.3%-1.6%-1.8%
1Y25.1%67.8%31.5%

Return vs Industry: UBCP underperformed the US Banks industry which returned 64.8% over the past year.

Return vs Market: UBCP underperformed the US Market which returned 33% over the past year.

Price Volatility

Is UBCP's price volatile compared to industry and market?
UBCP volatility
UBCP Beta0.43
Industry Beta1.37
Market Beta1

Stable Share Price: UBCP is not significantly more volatile than the rest of US stocks over the past 3 months, typically moving +/- 4% a week.

Volatility Over Time: UBCP's weekly volatility (4%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
1902122Scott Eversonhttps://www.unitedbancorp.com

United Bancorp, Inc. operates as the bank holding company for Unified Bank that provides commercial and retail banking services in Ohio. It accepts demand, savings, and time deposits, as well as grants commercial, commercial and residential real estate, and consumer loans. As of December 31, 2020, the company operated through a network of nineteen banking offices in Athens, Belmont, Carroll, Fairfield, Harrison, Jefferson, and Tuscarawas Counties in Ohio, as well as Marshall and Ohio Counties in West Virginia and the surrounding localities; and a loan production office in Wheeling, West Virginia.

United Bancorp Fundamentals Summary

How do United Bancorp's earnings and revenue compare to its market cap?
UBCP fundamental statistics
Market CapUS$86.60m
Earnings (TTM)US$8.31m
Revenue (TTM)US$27.48m

10.4x

P/E Ratio

1.2x

P/B Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
UBCP income statement (TTM)
RevenueUS$27.48m
Cost of RevenueUS$0
Gross ProfitUS$27.48m
ExpensesUS$19.17m
EarningsUS$8.31m

Last Reported Earnings

Jun 30, 2021

Next Earnings Date

n/a

Earnings per share (EPS)1.52
Gross Margin100.00%
Net Profit Margin30.25%
Debt/Equity Ratio69.1%

How did UBCP perform over the long term?

See historical performance and comparison

Dividends

4.0%

Current Dividend Yield

38%

Payout Ratio

Valuation

Is United Bancorp undervalued compared to its fair value and its price relative to the market?

30.0%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: UBCP ($14.91) is trading below our estimate of fair value ($21.29)

Significantly Below Fair Value: UBCP is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: UBCP is good value based on its PE Ratio (10.4x) compared to the US Banks industry average (10.6x).

PE vs Market: UBCP is good value based on its PE Ratio (10.4x) compared to the US market (17.5x).


Price to Earnings Growth Ratio

PEG Ratio: UBCP is poor value based on its PEG Ratio (1.6x)


Price to Book Ratio

PB vs Industry: UBCP is overvalued based on its PB Ratio (1.2x) compared to the US Banks industry average (1.1x).


Future Growth

How is United Bancorp forecast to perform in the next 1 to 3 years based on estimates from 1 analyst?

6.4%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: UBCP's forecast earnings growth (6.4% per year) is above the savings rate (2%).

Earnings vs Market: UBCP's earnings (6.4% per year) are forecast to grow slower than the US market (14.9% per year).

High Growth Earnings: UBCP's earnings are forecast to grow, but not significantly.

Revenue vs Market: UBCP's revenue (2% per year) is forecast to grow slower than the US market (9.8% per year).

High Growth Revenue: UBCP's revenue (2% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if UBCP's Return on Equity is forecast to be high in 3 years time


Past Performance

How has United Bancorp performed over the past 5 years?

20.2%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: UBCP has high quality earnings.

Growing Profit Margin: UBCP's current net profit margins (30.2%) are higher than last year (26.8%).


Past Earnings Growth Analysis

Earnings Trend: UBCP's earnings have grown significantly by 20.2% per year over the past 5 years.

Accelerating Growth: UBCP's earnings growth over the past year (27.5%) exceeds its 5-year average (20.2% per year).

Earnings vs Industry: UBCP earnings growth over the past year (27.5%) underperformed the Banks industry 36%.


Return on Equity

High ROE: UBCP's Return on Equity (12.7%) is considered low.


Financial Health

How is United Bancorp's financial position? (This company is analysed differently as a bank or financial institution)


Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet


Financial Institutions Analysis

Asset Level: UBCP's Assets to Equity ratio (10.5x) is moderate.

Allowance for Bad Loans: UBCP has a sufficient allowance for bad loans (154%).

Low Risk Liabilities: 91% of UBCP's liabilities are made up of primarily low risk sources of funding.

Loan Level: UBCP has an appropriate level of Loans to Assets ratio (62%).

Low Risk Deposits: UBCP's Loans to Deposits ratio (75%) is appropriate.

Level of Bad Loans: UBCP has an appropriate level of bad loans (0.6%).


Dividend

What is United Bancorp current dividend yield, its reliability and sustainability?

3.96%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: UBCP's dividend (3.96%) is higher than the bottom 25% of dividend payers in the US market (1.35%).

High Dividend: UBCP's dividend (3.96%) is in the top 25% of dividend payers in the US market (3.65%)


Stability and Growth of Payments

Stable Dividend: UBCP's dividend payments have been volatile in the past 10 years.

Growing Dividend: UBCP's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (37.6%), UBCP's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: UBCP's dividends in 3 years are forecast to be well covered by earnings (38.2% payout ratio).


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

10.0yrs

Average board tenure


CEO

Scott Everson (53 yo)

7.42yrs

Tenure

US$661,125

Compensation

Mr. Scott A. Everson serves as the President and Chief Executive Officer of United Bancorp, Inc. (the “Company”). Mr. Everson is also Chairman, President and Chief Executive Officer of Unified Bank (the “B...


CEO Compensation Analysis

Compensation vs Market: Scott's total compensation ($USD661.13K) is about average for companies of similar size in the US market ($USD545.11K).

Compensation vs Earnings: Scott's compensation has increased by more than 20% in the past year.


Board Members

Experienced Board: UBCP's board of directors are considered experienced (10 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: UBCP insiders have sold more shares than they have bought in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 2.1%.


Top Shareholders

Company Information

United Bancorp, Inc.'s employee growth, exchange listings and data sources


Key Information

  • Name: United Bancorp, Inc.
  • Ticker: UBCP
  • Exchange: NasdaqCM
  • Founded: 1902
  • Industry: Regional Banks
  • Sector: Banks
  • Market Cap: US$86.604m
  • Shares outstanding: 5.81m
  • Website: https://www.unitedbancorp.com

Number of Employees


Location

  • United Bancorp, Inc.
  • 201 South Fourth Street
  • Martins Ferry
  • Ohio
  • 43935
  • United States

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/09/22 00:12
End of Day Share Price2021/09/21 00:00
Earnings2021/06/30
Annual Earnings2020/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.