NasdaqCM:UBCP

Stock Analysis Report

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Executive Summary

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


Snowflake Analysis

Flawless balance sheet with solid track record and pays a dividend.


Similar Companies

Share Price & News

How has United Bancorp's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: UBCP has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

-2.0%

UBCP

1.1%

US Banks

2.3%

US Market


1 Year Return

1.0%

UBCP

-27.6%

US Banks

6.7%

US Market

Return vs Industry: UBCP exceeded the US Banks industry which returned -27.6% over the past year.

Return vs Market: UBCP underperformed the US Market which returned 6.7% over the past year.


Shareholder returns

UBCPIndustryMarket
7 Day-2.0%1.1%2.3%
30 Day8.8%-1.9%7.4%
90 Day19.0%-5.0%17.9%
1 Year5.5%1.0%-25.1%-27.6%9.0%6.7%
3 Year8.5%-5.3%-16.0%-22.7%36.6%27.7%
5 Year66.8%33.1%6.5%-6.4%64.2%46.1%

Price Volatility Vs. Market

How volatile is United Bancorp's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

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

9.64x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: UBCP ($11.37) is trading above our estimate of fair value ($10.87)

Significantly Below Fair Value: UBCP is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: UBCP is poor value based on its PE Ratio (9.6x) compared to the US Banks industry average (9.3x).

PE vs Market: UBCP is good value based on its PE Ratio (9.6x) compared to the US market (16.2x).


Price to Earnings Growth Ratio

PEG Ratio: UBCP is good value based on its PEG Ratio (1x)


Price to Book Ratio

PB vs Industry: UBCP is overvalued based on its PB Ratio (1x) compared to the US Banks industry average (0.8x).


Next Steps

Future Growth

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

9.6%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: UBCP's forecast earnings growth (9.6% per year) is above the savings rate (2.2%).

Earnings vs Market: UBCP's earnings (9.6% per year) are forecast to grow slower than the US market (22.9% per year).

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

Revenue vs Market: UBCP's revenue (2.8% per year) is forecast to grow slower than the US market (9.4% per year).

High Growth Revenue: UBCP's revenue (2.8% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: UBCP's Return on Equity is forecast to be low in 3 years time (11.9%).


Next Steps

Past Performance

How has United Bancorp performed over the past 5 years?

15.2%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: UBCP has high quality earnings.

Growing Profit Margin: UBCP's current net profit margins (27%) are higher than last year (20.2%).


Past Earnings Growth Analysis

Earnings Trend: UBCP's earnings have grown by 15.2% per year over the past 5 years.

Accelerating Growth: UBCP's earnings growth over the past year (43.7%) exceeds its 5-year average (15.2% per year).

Earnings vs Industry: UBCP earnings growth over the past year (43.7%) exceeded the Banks industry 1.7%.


Return on Equity

High ROE: UBCP's Return on Equity (10.8%) is considered low.


Next Steps

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 (11.4x) is moderate.

Allowance for Bad Loans: UBCP has a sufficient allowance for bad loans (146%).

Low Risk Liabilities: 85% 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 (80%) is appropriate.

Level of Bad Loans: UBCP has an appropriate level of bad loans (0.4%).


Next Steps

Dividend

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

5.01%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: UBCP's dividend (5.01%) is higher than the bottom 25% of dividend payers in the US market (1.68%).

High Dividend: UBCP's dividend (5.01%) is in the top 25% of dividend payers in the US market (4.6%)


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 (47.3%), 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 (37.6% payout ratio).


Next Steps

Management

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

8.8yrs

Average board tenure


CEO

Scott Everson (52yo)

6.25yrs

Tenure

US$472,501

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 “ ...


CEO Compensation Analysis

Compensation vs Market: Scott's total compensation ($USD472.50K) is about average for companies of similar size in the US market ($USD614.21K).

Compensation vs Earnings: Scott's compensation has been consistent with company performance over the past year.


Board Members

NamePositionTenureCompensationOwnership
Scott Everson
President6.25yrsUS$472.50k1.74% $1.1m
James Everson
Director Emeritusno dataUS$380.39kno data
John Hoopingarner
Independent Director28.5yrsUS$37.44k0.67% $431.9k
Richard Riesbeck
Independent Chairman of the Board6.25yrsUS$43.48k0.68% $439.2k
Gary Glessner
Independent Director6.58yrsUS$113.000.94% $606.2k
John Herzig
Director of Unified Bankno datano datano data
Jonathan Clark
Director of Unified Bankno datano datano data

8.8yrs

Average Tenure

65yo

Average Age

Experienced Board: UBCP's board of directors are considered experienced (8.8 years average tenure).


Ownership

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


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold 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 3.1%.


Top Shareholders

Company Information

United Bancorp, Inc.'s company bio, 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$64.570m
  • Shares outstanding: 5.68m
  • Website: https://www.unitedbancorp.com

Number of Employees


Location

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

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
UBCPNasdaqCM (Nasdaq Capital Market)YesCommon StockUSUSDMar 1993

Biography

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 23, 2020, it operated through a network of nineteen 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. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/07/12 00:10
End of Day Share Price2020/07/10 00:00
Earnings2020/03/31
Annual Earnings2019/12/31


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.