NasdaqGS:UBFO

Stock Analysis Report

United Security Bancshares

Executive Summary

United Security Bancshares operates as the holding company for United Security Bank, a state-chartered bank that provides a range of commercial banking services to the business and professional community, and individuals in California.

Snowflake

Fundamentals

Adequate balance sheet with proven track record.


Similar Companies

Share Price & News

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


Latest Share Price and Events


Market Performance


7 Day Return

-1.1%

UBFO

2.7%

US Banks

0.5%

US Market


1 Year Return

-3.7%

UBFO

2.9%

US Banks

6.8%

US Market

Return vs Industry: UBFO underperformed the US Banks industry which returned 2.9% over the past year.

Return vs Market: UBFO underperformed the US Market which returned 6.8% over the past year.


Shareholder returns

UBFOIndustryMarket
7 Day-1.1%2.7%0.5%
30 Day-3.6%1.1%-0.8%
90 Day-6.0%2.7%-0.9%
1 Year0.4%-3.7%5.8%2.9%9.2%6.8%
3 Year87.7%71.2%52.0%41.5%45.6%36.2%
5 Year123.2%103.6%69.2%50.7%63.2%45.4%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

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

10.77x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: UBFO ($10.32) is trading above our estimate of fair value ($8.94)

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


Price To Earnings Ratio

PE vs Industry: UBFO is good value based on its PE Ratio (10.8x) compared to the Banks industry average (12.5x).

PE vs Market: UBFO is good value based on its PE Ratio (10.8x) compared to the US market (17.7x).


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate UBFO's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: UBFO is overvalued based on its PB Ratio (1.5x) compared to the US Banks industry average (1.2x).


Next Steps

Future Growth

How is United Security Bancshares forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

-2.4%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: UBFO's earnings are forecast to decline over the next 3 years (-2.4% per year).

Earnings vs Market: UBFO's earnings are forecast to decline over the next 3 years (-2.4% per year).

High Growth Earnings: UBFO's earnings are forecast to decline over the next 3 years.

Revenue vs Market: Insufficient data to determine if UBFO's revenue is forecast to grow faster than the US market.

High Growth Revenue: Insufficient data to determine if UBFO's revenue is forecast to grow faster than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

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


Next Steps

Past Performance

How has United Security Bancshares performed over the past 5 years?

19.9%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: UBFO's earnings have grown by 19.9% per year over the past 5 years.

Accelerating Growth: UBFO's earnings growth over the past year (38.6%) exceeds its 5-year average (19.9% per year).

Earnings vs Industry: UBFO earnings growth over the past year (38.6%) exceeded the Banks industry 29.7%.


Return on Equity

High ROE: UBFO's Return on Equity (14.1%) is considered low.


Return on Assets

ROA vs Industry: UBFO has a higher Return on Assets than the Banks industry average last year.


Return on Capital Employed

ROCE Improving: Insufficient data to calculate UBFO's Return on Capital Employed to determine if it has improved over the past 3 years.


Next Steps

Financial Health

How is United Security Bancshares'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

Inventory Level: UBFO has a low level of unsold assets or inventory.

Debt Coverage by Assets: UBFO's debt is covered by short term assets (assets are 25.383340x debt).


Financial Institutions Analysis

Asset Level: UBFO's level of assets compared to its equity is low.

Allowance for Bad Loans: UBFO has a low allowance for bad loans.

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

Loan Level: UBFO has an acceptable proportion of non-loan assets held.

Low Risk Deposits: UBFO's loans are broadly funded by customer deposits.

Level of Bad Loans: UBFO has a high level of bad loans (2.72%)


Next Steps

Dividend

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

4.26%

Current Dividend Yield


Dividend Yield vs Market

company4.3%marketbottom25%1.4%markettop25%3.7%industryaverage3.0%forecastin3Yearsn/a

Current dividend yield vs market & industry


Stability and Growth of Payments

Notable Dividend: UBFO's dividend (4.26%) is higher than the bottom 25% of dividend payers in the US market (1.45%).

High Dividend: UBFO's dividend (4.26%) is in the top 25% of dividend payers in the US market (3.73%)

Stable Dividend: Whilst dividend payments have been stable, UBFO has been paying a dividend for less than 10 years.

Growing Dividend: UBFO's dividend payments have increased, but the company has only paid a dividend for 2 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (44.9%), UBFO's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.


Next Steps

Management

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

6.3yrs

Average management tenure


CEO

Dennis Woods (71yo)

26.8yrs

Tenure

US$767,296

Compensation

Mr. Dennis R. Woods serves as Chairman of the Board, President and Chief Executive Officer of United Security Bancshares. Mr. Woods is the Founding Chairman of United Security Bank and has been its Preside ...


CEO Compensation Analysis

Compensation vs. Market: Dennis's total compensation ($USD767.30K) is below average for companies of similar size in the US market ($USD1.16M).

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


Management Age and Tenure

6.3yrs

Average Tenure

66yo

Average Age

Experienced Management: UBFO's management team is seasoned and experienced (6.3 years average tenure).


Board Age and Tenure

5.4yrs

Average Tenure

69.5yo

Average Age

Experienced Board: UBFO's board of directors are considered experienced (5.4 years average tenure).


Insider Trading

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

BuyUS$9,94423 Oct 18
David Eytcheson
EntityIndividual
Role
Chief Operating Officer
Senior VP & COO
Shares909
Max PriceUS$10.94

Ownership Breakdown


Management Team

  • Dennis Woods (71yo)

    Chairman

    • Tenure: 26.8yrs
    • Compensation: US$767.30k
  • Dave Eytcheson (78yo)

    Senior VP & COO

    • Tenure: 18.3yrs
    • Compensation: US$345.56k
  • Robert Oberg (59yo)

    Senior VP & Chief Risk Officer

    • Tenure: 1yrs
    • Compensation: US$412.97k
  • Bill Yarbenet (61yo)

    Senior VP & Chief Credit Officer

    • Tenure: 6.3yrs
    • Compensation: US$474.89k
  • Bhavneet Gill (33yo)

    Senior VP & CFO

    • Tenure: 4.6yrs
    • Compensation: US$402.38k
  • Sue Quigley (73yo)

    Secretary & Director

    • Tenure: 2.8yrs
    • Compensation: US$31.40k
  • Ellie Rosenberg

    VP & Human Resource Director

    • Tenure: 0yrs
  • Dana Paull

    VP & Compliance Manager

    • Tenure: 0yrs
  • Jeremy Snow

    VP & Controller

    • Tenure: 0yrs

Board Members

  • Dennis Woods (71yo)

    Chairman

    • Tenure: 26.8yrs
    • Compensation: US$767.30k
  • Tom Ellithorpe (76yo)

    Independent Director

    • Tenure: 18.8yrs
    • Compensation: US$72.74k
  • Stan Cavalla (68yo)

    Independent Director

    • Tenure: 18.8yrs
    • Compensation: US$44.58k
  • Mike Woolf (63yo)

    Independent Director

    • Tenure: 14.4yrs
    • Compensation: US$36.62k
  • Robert Mochizuki (72yo)

    Lead Director

    • Tenure: 0yrs
    • Compensation: US$48.62k
  • Kenneth Newby (73yo)

    Independent Director

    • Tenure: 5.4yrs
    • Compensation: US$61.51k
  • Sue Quigley (73yo)

    Secretary & Director

    • Tenure: 2.8yrs
    • Compensation: US$31.40k
  • Ben Mackovak (38yo)

    Director

    • Tenure: 2.8yrs
    • Compensation: US$41.40k
  • Nabeel Mahmood (41yo)

    Director

    • Tenure: 1.9yrs
    • Compensation: US$24.40k
  • Brian Tkacz (42yo)

    Director

    • Tenure: 1.9yrs
    • Compensation: US$19.00k

Company Information

United Security Bancshares's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: United Security Bancshares
  • Ticker: UBFO
  • Exchange: NasdaqGS
  • Founded: 1987
  • Industry: Regional Banks
  • Sector: Banks
  • Market Cap: US$174.963m
  • Shares outstanding: 16.95m
  • Website: https://www.unitedsecuritybank.com

Number of Employees


Location

  • United Security Bancshares
  • 2126 Inyo Street
  • Fresno
  • California
  • 93721
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
UBFONasdaqGS (Nasdaq Global Select)YesCommon SharesUSUSDMar 1996

Biography

United Security Bancshares operates as the holding company for United Security Bank, a state-chartered bank that provides a range of commercial banking services to the business and professional community,  ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/20 23:45
End of Day Share Price2019/10/18 00:00
Earnings2019/09/30
Annual Earnings2018/12/31


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.