Stock Analysis Report

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Executive Summary

United Bancshares, Inc. operates as the bank holding company for The Union Bank Company that provides various commercial and consumer banking services. More Details

Snowflake Analysis

Flawless balance sheet and undervalued.

Similar Companies

Share Price & News

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

Latest Share Price and Events

Stable Share Price: UBOH is not significantly more volatile than the rest of US stocks over the past 3 months, typically moving +/- 6% a week.

Volatility Over Time: UBOH's weekly volatility (6%) has been stable over the past year.

Market Performance

7 Day Return




US Banks


US Market

1 Year Return




US Banks


US Market

Return vs Industry: UBOH underperformed the US Banks industry which returned 19.9% over the past year.

Return vs Market: UBOH underperformed the US Market which returned 36.4% over the past year.

Shareholder returns

7 Day-0.4%-0.2%-3.6%
30 Day-0.6%16.1%2.7%
90 Day-2.1%26.2%7.5%
1 Year11.5%8.8%24.3%19.9%39.5%36.5%
3 Year16.4%8.4%11.7%2.2%53.5%43.6%
5 Year42.1%26.5%92.0%67.7%117.5%93.2%

Long-Term Price Volatility Vs. Market

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

Simply Wall St News


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


Undervalued compared to fair value

Share Price vs. Fair Value

Below Fair Value: UBOH ($23.85) is trading below our estimate of fair value ($29.93)

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

Price To Earnings Ratio

PE vs Industry: UBOH is good value based on its PE Ratio (5.7x) compared to the US Banks industry average (12.5x).

PE vs Market: UBOH is good value based on its PE Ratio (5.7x) compared to the US market (21.3x).

Price to Earnings Growth Ratio

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

Price to Book Ratio

PB vs Industry: UBOH is good value based on its PB Ratio (0.7x) compared to the US Banks industry average (1x).

Next Steps

Future Growth

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


Forecasted Banks industry annual growth in earnings

In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as United Bancshares has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.

Next Steps

Past Performance

How has United Bancshares performed over the past 5 years?


Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: UBOH has high quality earnings.

Growing Profit Margin: UBOH's current net profit margins (25.5%) are lower than last year (25.7%).

Past Earnings Growth Analysis

Earnings Trend: UBOH's earnings have grown significantly by 23.2% per year over the past 5 years.

Accelerating Growth: UBOH's earnings growth over the past year (29.1%) exceeds its 5-year average (23.2% per year).

Earnings vs Industry: UBOH earnings growth over the past year (29.1%) exceeded the Banks industry 0.6%.

Return on Equity

High ROE: UBOH's Return on Equity (12.6%) is considered low.

Next Steps

Financial Health

How is United 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

Financial Institutions Analysis

Asset Level: UBOH's Assets to Equity ratio (9.1x) is low.

Allowance for Bad Loans: UBOH has a sufficient allowance for bad loans (302%).

Low Risk Liabilities: 93% of UBOH's liabilities are made up of primarily low risk sources of funding.

Loan Level: UBOH has an appropriate level of Loans to Assets ratio (67%).

Low Risk Deposits: UBOH's Loans to Deposits ratio (81%) is appropriate.

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

Next Steps


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


Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: UBOH's dividend (2.14%) is higher than the bottom 25% of dividend payers in the US market (1.34%).

High Dividend: UBOH's dividend (2.14%) is low compared to the top 25% of dividend payers in the US market (3.77%).

Stability and Growth of Payments

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

Growing Dividend: UBOH's dividend payments have fallen over the past 10 years.

Current Payout to Shareholders

Dividend Coverage: With its low payout ratio (12.1%), UBOH's dividend payments are thoroughly 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


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


Average management tenure


Brian Young (53 yo)





Mr. Brian D. Young, CPA has been the Chief Executive Officer and President of United Bancshares, Inc. and Chairman and Chief Executive Officer of The Union Bank Company since August 1, 2012. Mr. Young has ...

CEO Compensation Analysis

Compensation vs Market: Brian's total compensation ($USD543.89K) is about average for companies of similar size in the US market ($USD511.69K).

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

Leadership Team

Brian Young
CEO, President & Director8.5yrsUS$543.89k0.99%
$ 773.1k
Stacy Cox
Chief Financial Officer2yrsUS$248.77k0.093%
$ 72.9k
Heather Oatman
$ 351.5k
C. Ramsey
Vice President of The Union Bank Companyno datano datano data


Average Tenure


Average Age

Experienced Management: UBOH's management team is seasoned and experienced (8.5 years average tenure).

Board Members

Brian Young
CEO, President & Director8.5yrsUS$543.89k0.99%
$ 773.1k
David Roach
Independent Director20.08yrsUS$24.90k0.18%
$ 141.8k
H. Rigel
Independent Director21.08yrsUS$25.80k0.93%
$ 723.3k
Daniel Schutt
Independent Chairman2.83yrsUS$32.50k0.68%
$ 528.3k
Robert Benroth
Independent Director18.08yrsUS$28.25k0.25%
$ 198.4k
R. Unverferth
Independent Director15.83yrsUS$25.05k0.14%
$ 107.8k
Herbert Huffman
Independent Director2.83yrsUS$24.45k1.05%
$ 821.2k


Average Tenure


Average Age

Experienced Board: UBOH's board of directors are seasoned and experienced ( 15.8 years average tenure).


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.

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.

Top Shareholders

Company Information

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

Key Information

  • Name: United Bancshares, Inc.
  • Ticker: UBOH
  • Exchange: NasdaqGM
  • Founded: 1904
  • Industry: Regional Banks
  • Sector: Banks
  • Market Cap: US$78.037m
  • Shares outstanding: 3.27m
  • Website:

Number of Employees


  • United Bancshares, Inc.
  • 105 Progressive Drive
  • Columbus Grove
  • Ohio
  • 45830-1241
  • United States


TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
UBOHNasdaqGM (Nasdaq Global Market)YesCommon StockUSUSDJun 1998


United Bancshares, Inc. operates as the bank holding company for The Union Bank Company that provides various commercial and consumer banking services. The company accepts various deposits products, such a...

Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/03/01 00:00
End of Day Share Price2021/02/26 00:00
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.