Goldman Sachs Group Inc. Increases Stake in United Security Bancshares $UBFO

Goldman Sachs Group Inc. raised its position in United Security Bancshares (NASDAQ:UBFO) by 64.3% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 59,523 shares of the financial services provider’s stock after buying an additional 23,284 shares during the period. Goldman Sachs Group Inc. owned about 0.34% of United Security Bancshares worth $533,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Millennium Management LLC increased its stake in shares of United Security Bancshares by 330.9% during the fourth quarter. Millennium Management LLC now owns 47,013 shares of the financial services provider’s stock worth $475,000 after purchasing an additional 36,103 shares in the last quarter. Jane Street Group LLC grew its position in shares of United Security Bancshares by 167.3% in the first quarter. Jane Street Group LLC now owns 46,490 shares of the financial services provider’s stock valued at $417,000 after purchasing an additional 29,096 shares in the last quarter. Global Wealth Management Investment Advisory Inc. purchased a new stake in United Security Bancshares in the 1st quarter valued at $110,000. Empowered Funds LLC grew its holdings in shares of United Security Bancshares by 7.9% in the first quarter. Empowered Funds LLC now owns 55,608 shares of the financial services provider’s stock valued at $498,000 after purchasing an additional 4,068 shares during the period. Finally, Bank of America Corp DE grew its position in United Security Bancshares by 1,292.4% in the fourth quarter. Bank of America Corp DE now owns 3,648 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 3,386 shares during the period. Hedge funds and other institutional investors own 30.88% of the company’s stock.

Insider Buying and Selling at United Security Bancshares

In other news, Director Jagroop Gill acquired 55,814 shares of United Security Bancshares stock in a transaction on Thursday, August 7th. The stock was bought at an average price of $8.34 per share, for a total transaction of $465,488.76. Following the completion of the purchase, the director owned 1,281,347 shares in the company, valued at $10,686,433.98. This represents a 4.55% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 22.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen lowered shares of United Security Bancshares from a “hold” rating to a “sell” rating in a research note on Friday, July 18th.

United Security Bancshares Stock Down 0.4%

Shares of NASDAQ UBFO opened at $9.58 on Friday. The business has a 50-day moving average of $9.13 and a two-hundred day moving average of $8.82. The company has a market capitalization of $167.46 million, a price-to-earnings ratio of 14.52 and a beta of 0.42. United Security Bancshares has a 1 year low of $7.32 and a 1 year high of $10.49. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.94 and a quick ratio of 0.94.

United Security Bancshares (NASDAQ:UBFO) last posted its earnings results on Thursday, July 17th. The financial services provider reported $0.13 earnings per share for the quarter. The firm had revenue of $12.62 million during the quarter. United Security Bancshares had a return on equity of 8.43% and a net margin of 17.07%.

United Security Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 21st. Stockholders of record on Friday, October 3rd will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 5.0%. The ex-dividend date of this dividend is Friday, October 3rd. United Security Bancshares’s payout ratio is presently 72.73%.

United Security Bancshares Profile

United Security Bancshares operates as the bank 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. The company accepts various deposit products, including personal and business checking accounts, savings accounts, interest-bearing negotiable order of withdrawal accounts, money market accounts, and time certificates of deposit.