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United Bancorp

Nasdaq:UBCP
Snowflake Description

Flawless balance sheet and fair value.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
UBCP
Nasdaq
$62M
Market Cap
  1. Home
  2. US
  3. Banks
Company description

United Bancorp, Inc. operates as the bank holding company for Unified Bank that provides commercial and retail banking services in Ohio. The last earnings update was 35 days ago. More info.


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UBCP Share Price and Events
7 Day Returns
-3.1%
NasdaqCM:UBCP
0.1%
US Banks
1.2%
US Market
1 Year Returns
-15.3%
NasdaqCM:UBCP
-7.6%
US Banks
2.3%
US Market
UBCP Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
United Bancorp (UBCP) -3.1% -0.5% 3.1% -15.3% 12.7% 33.1%
US Banks 0.1% 0.5% 0.7% -7.6% 45.6% 41.7%
US Market 1.2% 2% 2% 2.3% 37.9% 39.8%
1 Year Return vs Industry and Market
  • UBCP underperformed the Banks industry which returned -7.6% over the past year.
  • UBCP underperformed the Market in United States of America which returned 2.3% over the past year.
Price Volatility
UBCP
Industry
5yr Volatility vs Market

Value

 Is United Bancorp undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of United Bancorp to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for United Bancorp.

NasdaqCM:UBCP Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Median Return on Equity from the past 5 years.
= Stable Book Value * Return on Equity
= $8.88 * 8.2%
$0.73
Book Value of Equity per Share Median Book Value from the past 5 years. $8.88
Discount Rate (Cost of Equity) See below 7.6%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NasdaqCM:UBCP
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
Banks Unlevered Beta Simply Wall St/ S&P Global 0.59
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.594 (1 + (1- 21%) (28.63%))
0.818
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.82
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (0.818 * 5.96%)
7.61%

Discounted Cash Flow Calculation for NasdaqCM:UBCP using Excess Returns Model Model

The calculations below outline how an intrinsic value for United Bancorp is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

NasdaqCM:UBCP Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (8.2% – 7.61%) * $8.88)
$0.05
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= $0.05 / (7.61% - 2.73%)
$1.06
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= $8.88 + $1.06
$9.94
NasdaqCM:UBCP Discount to Share Price
Calculation Result
Value per share (USD) From above. $9.94
Current discount Discount to share price of $11.27
= -1 x ($11.27 - $9.94) / $9.94
-13.4%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of United Bancorp is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for United Bancorp's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are United Bancorp's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NasdaqCM:UBCP PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in USD $0.88
NasdaqCM:UBCP Share Price ** NasdaqCM (2019-06-19) in USD $11.27
United States of America Banks Industry PE Ratio Median Figure of 600 Publicly-Listed Banks Companies 12.75x
United States of America Market PE Ratio Median Figure of 3,092 Publicly-Listed Companies 17.87x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of United Bancorp.

NasdaqCM:UBCP PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NasdaqCM:UBCP Share Price ÷ EPS (both in USD)

= 11.27 ÷ 0.88

12.75x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • United Bancorp is good value based on earnings compared to the US Banks industry average.
  • United Bancorp is good value based on earnings compared to the United States of America market.
Price based on expected Growth
Does United Bancorp's expected growth come at a high price?
Raw Data
NasdaqCM:UBCP PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 12.75x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
5.6%per year
United States of America Banks Industry PEG Ratio Median Figure of 272 Publicly-Listed Banks Companies 1.37x
United States of America Market PEG Ratio Median Figure of 2,128 Publicly-Listed Companies 1.53x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for United Bancorp, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on United Bancorp's assets?
Raw Data
NasdaqCM:UBCP PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in USD $9.75
NasdaqCM:UBCP Share Price * NasdaqCM (2019-06-19) in USD $11.27
United States of America Banks Industry PB Ratio Median Figure of 603 Publicly-Listed Banks Companies 1.2x
United States of America Market PB Ratio Median Figure of 5,246 Publicly-Listed Companies 1.8x
NasdaqCM:UBCP PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NasdaqCM:UBCP Share Price ÷ Book Value per Share (both in USD)

= 11.27 ÷ 9.75

1.16x

* Primary Listing of United Bancorp.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • United Bancorp is good value based on assets compared to the US Banks industry average.
X
Value checks
We assess United Bancorp's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Banks industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Banks industry average (and greater than 0)? (1 check)
  5. United Bancorp has a total score of 3/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is United Bancorp expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

  • No analysts cover United Bancorp, future earnings growth has been estimated based on fundamentals.
The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
5.6%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is United Bancorp expected to grow at an attractive rate?
  • United Bancorp's earnings growth is expected to exceed the low risk savings rate of 2.7%.
Growth vs Market Checks
  • United Bancorp's earnings growth is positive but not above the United States of America market average.
  • Unable to compare United Bancorp's revenue growth to the United States of America market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
NasdaqCM:UBCP Future Growth Rates Data Sources
Data Point Source Value (per year)
NasdaqCM:UBCP Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts 5.6%
United States of America Banks Industry Earnings Growth Rate Market Cap Weighted Average 3.9%
United States of America Banks Industry Revenue Growth Rate Market Cap Weighted Average 3.8%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 13.9%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.4%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NasdaqCM:UBCP Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NasdaqCM:UBCP Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-03-31 22 6 5
2018-12-31 21 6 4
2018-09-30 21 6 4
2018-06-30 20 5 4
2018-03-31 20 5 4
2017-12-31 19 5 3
2017-09-30 19 4 4
2017-06-30 19 4 4
2017-03-31 18 4 4
2016-12-31 18 4 4
2016-09-30 18 4 3
2016-06-30 18 4 3

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • United Bancorp's earnings are expected to grow by 5.6% yearly, however this is not considered high growth (20% yearly).
  • Unable to determine if United Bancorp is high growth as no revenue estimate data is available.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NasdaqCM:UBCP Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from United Bancorp Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqCM:UBCP Past Financials Data
Date (Data in USD Millions) EPS *
2019-03-31 0.88
2018-12-31 0.82
2018-09-30 0.85
2018-06-30 0.79
2018-03-31 0.74
2017-12-31 0.69
2017-09-30 0.75
2017-06-30 0.73
2017-03-31 0.72
2016-12-31 0.72
2016-09-30 0.71
2016-06-30 0.70

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if United Bancorp will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess United Bancorp's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
United Bancorp has a total score of 1/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has United Bancorp performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare United Bancorp's growth in the last year to its industry (Banks).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • United Bancorp's year on year earnings growth rate has been positive over the past 5 years.
  • United Bancorp's 1-year earnings growth exceeds its 5-year average (22.2% vs 10.4%)
  • United Bancorp's earnings growth has not exceeded the US Banks industry average in the past year (22.2% vs 40.4%).
Earnings and Revenue History
United Bancorp's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from United Bancorp Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqCM:UBCP Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 22.44 4.52 12.55
2018-12-31 21.41 4.07 12.06
2018-09-30 20.58 4.29 11.64
2018-06-30 20.13 3.98 11.27
2018-03-31 19.61 3.70 11.13
2017-12-31 19.24 3.43 10.99
2017-09-30 18.92 3.66 10.86
2017-06-30 18.57 3.58 10.82
2017-03-31 18.43 3.56 10.55
2016-12-31 18.23 3.55 10.30
2016-09-30 17.86 3.47 9.97
2016-06-30 17.60 3.41 9.71
2016-03-31 17.30 3.31 9.67
2015-12-31 17.05 3.16 9.69
2015-09-30 16.87 3.04 9.83
2015-06-30 16.72 2.90 9.92
2015-03-31 16.73 2.81 10.04
2014-12-31 16.72 2.60 10.19
2014-09-30 16.85 2.46 10.42
2014-06-30 17.50 2.82 10.66
2014-03-31 17.15 2.58 10.70
2013-12-31 16.96 2.56 10.69
2013-09-30 16.87 2.42 10.73
2013-06-30 16.01 1.79 10.66
2013-03-31 16.26 2.04 10.49
2012-12-31 16.42 2.32 10.41
2012-09-30 16.36 2.66 9.79
2012-06-30 16.67 3.00 9.67

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • United Bancorp has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • United Bancorp used its assets less efficiently than the US Banks industry average last year based on Return on Assets.
  • Unable to establish if United Bancorp improved its use of capital last year versus 3 years ago (Return on Capital Employed) due to insufficient past data.
X
Past performance checks
We assess United Bancorp's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Banks industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
United Bancorp has a total score of 2/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

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

This company is a bank or financial institution.

Fundamentally a bank's business is based upon borrowing and lending money, for this reason they typically have high levels of debt and we analyse them differently.
Net Worth
Balance sheet
This treemap shows a more detailed breakdown of United Bancorp's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from United Bancorp Company Filings, last reported 2 months ago.

NasdaqCM:UBCP Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 53.79 17.77 32.69
2018-12-31 50.64 12.30 22.55
2018-09-30 45.11 41.66 12.91
2018-06-30 44.99 50.24 16.31
2018-03-31 44.27 27.90 14.77
2017-12-31 43.90 25.23 10.82
2017-09-30 44.12 25.57 23.11
2017-06-30 43.65 27.40 20.78
2017-03-31 43.12 35.01 16.38
2016-12-31 42.64 53.37 8.74
2016-09-30 42.77 51.28 13.25
2016-06-30 42.36 47.44 9.79
2016-03-31 41.92 42.77 18.24
2015-12-31 41.50 36.35 9.00
2015-09-30 41.57 40.96 24.84
2015-06-30 41.05 39.79 25.29
2015-03-31 40.72 42.92 39.23
2014-12-31 40.39 35.94 35.16
2014-09-30 40.14 40.04 37.37
2014-06-30 39.74 37.54 31.02
2014-03-31 39.18 40.62 40.73
2013-12-31 38.87 36.86 20.17
2013-09-30 37.11 41.68 41.22
2013-06-30 36.42 48.48 58.56
2013-03-31 36.74 51.49 70.64
2012-12-31 36.63 47.12 69.81
2012-09-30 36.52 50.33 102.24
2012-06-30 36.38 47.68 44.36
BANK ANALYSIS

This company is a bank or financial institution, which is analysed accordingly below.

Below we check the amount of loans the bank has, how many of those are bad, and its ability to cover any bad loans.
  • United Bancorp has an acceptable proportion of non-loan assets held.
  • United Bancorp's liabilities are made up of primarily low risk sources of funding.
  • Loans at United Bancorp are broadly funded by customer deposits.
  • United Bancorp's level of assets compared to its equity is moderate (i.e. an appropriate level of borrowing to fund lending).
  • United Bancorp has a sufficient allowance for bad loans.
  • United Bancorp has an acceptable level of bad loans (less than 2%).
X
Financial health checks
We assess United Bancorp's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. United Bancorp has a total score of 6/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

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

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
4.79%
Current annual income from United Bancorp dividends.
If you bought $2,000 of United Bancorp shares you are expected to receive $96 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • United Bancorp's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.44%).
  • United Bancorp's dividend is above the markets top 25% of dividend payers in United States of America (3.69%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NasdaqCM:UBCP Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
United States of America Banks Industry Average Dividend Yield Market Cap Weighted Average of 478 Stocks 2.9%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2011 Stocks 2.4%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.4%
United States of America Top 25% Dividend Yield 75th Percentile 3.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NasdaqCM:UBCP Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-04-18 0.540 4.746
2019-02-21 0.580 5.343
2018-11-26 0.570 4.981
2018-08-23 0.570 4.360
2018-04-19 0.570 4.303
2018-02-22 0.570 4.576
2017-11-27 0.530 4.111
2017-08-17 0.530 4.350
2017-04-20 0.490 4.142
2017-02-23 0.490 3.987
2016-11-17 0.490 3.847
2016-08-18 0.440 4.125
2016-04-22 0.400 4.082
2016-02-18 0.400 4.360
2015-11-19 0.400 4.366
2015-08-20 0.360 4.113
2015-04-16 0.360 4.359
2015-02-19 0.360 4.537
2014-11-20 0.360 4.457
2014-08-21 0.320 3.972
2014-04-17 0.320 4.014
2014-02-13 0.320 3.861
2013-11-14 0.320 4.016
2013-08-15 0.280 4.100
2013-04-18 0.280 3.928
2013-02-14 0.280 3.980
2012-11-15 0.280 4.374
2012-08-16 0.280 4.069
2012-04-19 0.560 6.053
2012-02-16 0.560 6.065
2011-11-10 0.560 6.594
2011-08-17 0.560 6.662
2011-04-21 0.560 6.408
2011-02-11 0.560 6.644
2010-11-10 0.560 6.690
2010-08-18 0.560 6.858
2010-04-22 0.560 6.708
2010-02-12 0.560 6.575
2009-11-13 0.560 6.671
2009-08-19 0.560 6.848

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have fallen over the past 10 years.
Current Payout to shareholders
What portion of United Bancorp's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.7x coverage).
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess United Bancorp's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can United Bancorp afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. United Bancorp has a total score of 3/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of United Bancorp's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Scott Everson
COMPENSATION $782,193
AGE 50
TENURE AS CEO 5.2 years
CEO Bio

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 “Bank”). Mr. Everson has been a Director of the United Bancorp, Inc. since 2009 and the Unified Bank since 2002. Mr. Everson graduated from Westminster College in 1990 with a Bachelor’s Degree in Business Administration/Finance. Following one year of employment with Hewlett-Packard in the area of sales support, he joined the Bank on a full-time basis and rose through the ranks of lending and retail banking to become Senior Vice President of Retail Banking of the Bank and Senior Vice President and Chief Operating Officer of the Company in April 1999. In May 2002, he was appointed President and Chief Operating Officer of the Bank, becoming the Bank’s Chief Executive Officer in November 2004. In April 2011 he was appointed the company's Executive Vice President and Chief Operating Officer and in April 2013, he was appointed the company's President and Chief Operating Officer. He was appointed the company's President and Chief Executive Officer in April 2014, as well as Chairman, President and Chief Executive Officer of the Bank. Mr. Everson received additional education throughout his career, graduating from the Ohio School of Consumer Credit, the Ohio School of Banking, the Graduate School of Banking at the University of Wisconsin, and the Executive Banking Institute in Austin, Texas. In addition, he serves on the Government Relations Council of the Ohio Banker’s League.

CEO Compensation
  • Scott's compensation has increased by more than 20% in the past year whilst earnings grew less than 20%.
  • Scott's remuneration is higher than average for companies of similar size in United States of America.
Management Team

Scott Everson

TITLE
President
COMPENSATION
$782K
AGE
50
TENURE
5.2 yrs

Randall Greenwood

TITLE
Senior VP
COMPENSATION
$492K
AGE
54

Matt Branstetter

TITLE
Senior VP & COO
COMPENSATION
$510K
AGE
50
TENURE
5.1 yrs

Michael Lloyd

TITLE
Chief Information Officer and Vice President
AGE
49

Norman Assenza

TITLE
Vice President Compliance
COMPENSATION
$174K
AGE
72

Chad Smith

TITLE
Chief Human Resource Officer and Vice President
AGE
46

Elmer Leeper

TITLE
Chief Retail Banking Officer and Vice President
AGE
51

Lisa Basinger

TITLE
Corporate Secretary
AGE
57
Board of Directors Tenure

Average tenure and age of the United Bancorp board of directors in years:

5.5
Average Tenure
65.5
Average Age
  • The tenure for the United Bancorp board of directors is about average.
Board of Directors

Richard Riesbeck

TITLE
Chairman of the Board
COMPENSATION
$219K
AGE
68
TENURE
5.2 yrs

Scott Everson

TITLE
President
COMPENSATION
$782K
AGE
50
TENURE
9.9 yrs

John Hoopingarner

TITLE
Director
COMPENSATION
$149K
AGE
63
TENURE
27.4 yrs

Gary Glessner

TITLE
Director
COMPENSATION
$120K
AGE
51
TENURE
5.5 yrs

Carl Novak

TITLE
Director
COMPENSATION
$6K
AGE
72
TENURE
0.7 yrs

Jim Everson

TITLE
Director Emeritus
COMPENSATION
$380K
AGE
79

John Herzig

TITLE
Director of The Citizens Savings Bank

Jonathan Clark

TITLE
Director of The Citizens Savings Bank
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by United Bancorp insiders in the past 3 months, but not in substantial volumes.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
31. May 19 Buy Gary Glessner Individual 30. May 19 30. May 19 2,700 $11.50 $31,050
31. May 19 Buy Richard Riesbeck Individual 27. May 19 27. May 19 150 $11.15 $1,673
11. Mar 19 Buy Lisa Basinger Individual 07. Mar 19 07. Mar 19 185 $11.10 $2,054
11. Mar 19 Buy Matthew Branstetter Individual 07. Mar 19 07. Mar 19 289 $11.10 $3,208
11. Mar 19 Buy Gary Glessner Individual 07. Mar 19 07. Mar 19 1,922 $11.10 $21,334
11. Mar 19 Buy Scott Everson Individual 07. Mar 19 07. Mar 19 495 $11.10 $5,495
11. Mar 19 Buy Richard Riesbeck Individual 07. Mar 19 07. Mar 19 464 $10.10 $4,686
11. Mar 19 Buy John Hoopingarner Individual 07. Mar 19 07. Mar 19 548 $11.10 $6,083
25. Feb 19 Buy Gary Glessner Individual 22. Feb 19 25. Feb 19 4,174 $11.30 $47,166
21. Feb 19 Buy Gary Glessner Individual 19. Feb 19 20. Feb 19 1,113 $11.15 $12,410
19. Feb 19 Buy Gary Glessner Individual 14. Feb 19 14. Feb 19 100 $10.95 $1,095
04. Sep 18 Buy Scott Everson Individual 30. Aug 18 30. Aug 18 621 $13.57 $8,427
04. Sep 18 Buy Lisa Basinger Individual 30. Aug 18 30. Aug 18 56 $13.57 $760
04. Sep 18 Buy Richard Riesbeck Individual 30. Aug 18 30. Aug 18 579 $13.57 $7,857
04. Sep 18 Buy John Hoopingarner Individual 30. Aug 18 30. Aug 18 718 $13.57 $9,743
X
Management checks
We assess United Bancorp's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. United Bancorp has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Should You Worry About United Bancorp, Inc.'s (NASDAQ:UBCP) CEO Salary Level?

Scott Everson has been the CEO of United Bancorp, Inc. … First, this article will compare CEO compensation with compensation at similar sized companies. … How Does Scott Everson's Compensation Compare With Similar Sized Companies?

Simply Wall St -

I Built A List Of Growing Companies And United Bancorp (NASDAQ:UBCP) Made The Cut

United Bancorp's Earnings Per Share Are Growing. … Not all of United Bancorp's revenue this year is revenue from operations, so keep in mind the revenue and margin numbers I've used might not be the best representation of the underlying business. … United Bancorp maintained stable EBIT margins over the last year, all while growing revenue 11% to US$21m.

Simply Wall St -

What Kind Of Investor Owns Most Of United Bancorp, Inc. (NASDAQ:UBCP)?

So it's nice to see some insider ownership, because it may suggest that management is owner-oriented. … United Bancorp is a smaller company with a market capitalization of US$61m, so it may still be flying under the radar of many institutional investors. … Check out our latest analysis for United Bancorp

Simply Wall St -

Three Understated Metrics For United Bancorp, Inc. (NASDAQ:UBCP) You Should Know

As a small-cap bank stock with a market capitalisation of US$58m, United Bancorp, Inc.’s (NASDAQ:UBCP) risk and profitability are largely determined by the underlying economic growth of the US regions in which it operates. … After the GFC, a set of reforms called Basel III was imposed in order to strengthen regulation, supervision and risk management in the banking sector. … Low levels of leverage coupled with sufficient liquidity may place United Bancorp in a safe position in the face of adverse headwinds.

Simply Wall St -

Does United Bancorp's Share Price Gain of 35% Match Its Business Performance?

Furthermore, you'd generally like to see the share price rise faster than the market. … By comparing earnings per share (EPS) and and share price changes over time, we can get a feel for how investor attitudes to a company have morphed over time. … Over half a decade, United Bancorp managed to grow its earnings per share at 9.6% a year.

Simply Wall St -

Should You Be Concerned About United Bancorp, Inc.’s (NASDAQ:UBCP) Risks?

United Bancorp, Inc. … Risk associated with repayment is measured by bad debt which is written off as an expense, impacting United Bancorp’s bottom line. … Today we will analyse United Bancorp’s level of bad debt and liabilities in order to understand the risk involved with investing in the bank.

Simply Wall St -

What To Know Before Buying United Bancorp, Inc. (NASDAQ:UBCP) For Its Dividend

Historically, United Bancorp, Inc. … Does United Bancorp tick all the boxes of a great dividend stock? … Check out our latest analysis for United Bancorp?

Simply Wall St -

Here's What United Bancorp, Inc.'s (NASDAQ:UBCP) P/E Ratio Is Telling Us

This article is for investors who would like to improve their understanding of price to earnings ratios (P/E ratios). … Based on the last twelve months, United Bancorp's P/E ratio is 11.81. … Price to Earnings Ratio = Price per Share ÷ Earnings per Share (EPS)

Simply Wall St -

Is United Bancorp Inc's (NASDAQ:UBCP) CEO Pay Justified?

This analysis aims first to contrast CEO compensation with other companies that have similar market capitalization. … How Does Scott Everson's Compensation Compare With Similar Sized Companies. … According to our data, United Bancorp Inc has a market capitalization of US$65m, and pays its CEO total annual compensation worth US$356k.

Simply Wall St -

Understated Factors To Consider Before Investing In United Bancorp Inc (NASDAQ:UBCP)

United Bancorp Inc’s (NASDAQ:UBCP) profitability and risk are largely affected by the underlying economic growth for the region it operates in US given it is a small-cap stock with a market capitalisation of US$68m. … Basel III target banking regulations to improve the sector’s ability to absorb shocks resulting from economic stress which may expose financial institutions like United Bancorp to vulnerabilities. … Today we will be measuring United Bancorp’s financial risk position by looking at three leverage and liquidity metrics.

Simply Wall St -

Company Info

Description

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, real estate, and consumer loans. The company also offers brokerage services. As of April 24, 2019, it operated through a network of 19 banking offices in the Ohio counties of Athens, Belmont, Carroll, Fairfield, Harrison, Jefferson, and Tuscarawas; and a loan production office in Wheeling, West Virginia. The company was founded in 1902 and is headquartered in Martins Ferry, Ohio.

Details
Name: United Bancorp, Inc.
UBCP
Exchange: NasdaqCM
Founded: 1902
$62,069,423
5,507,491
Website: http://www.unitedbancorp.com
Address: United Bancorp, Inc.
201 South Fourth Street,
Martins Ferry,
Ohio, 43935,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NasdaqCM UBCP Common Stock Nasdaq Capital Market US USD 01. Mar 1993
Number of employees
Current staff
Staff numbers
123
United Bancorp employees.
Industry
Regional Banks
Banks
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/06/19 23:46
End of day share price update: 2019/06/19 00:00
Last earnings filing: 2019/05/15
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

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.