Bridgewealth Advisory Group LLC Makes New $10.54 Million Investment in United Security Bancshares $UBFO

Bridgewealth Advisory Group LLC bought a new position in shares of United Security Bancshares (NASDAQ:UBFO - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 1,218,380 shares of the financial services provider's stock, valued at approximately $10,539,000. United Security Bancshares comprises about 2.7% of Bridgewealth Advisory Group LLC's investment portfolio, making the stock its 10th largest holding. Bridgewealth Advisory Group LLC owned approximately 6.97% of United Security Bancshares at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of UBFO. Bank of America Corp DE grew its position in United Security Bancshares by 1,292.4% during the 4th quarter. Bank of America Corp DE now owns 3,648 shares of the financial services provider's stock worth $37,000 after purchasing an additional 3,386 shares during the last quarter. Global Wealth Management Investment Advisory Inc. acquired a new position in shares of United Security Bancshares in the first quarter valued at about $110,000. Y Intercept Hong Kong Ltd increased its holdings in shares of United Security Bancshares by 20.6% in the first quarter. Y Intercept Hong Kong Ltd now owns 14,360 shares of the financial services provider's stock valued at $129,000 after purchasing an additional 2,452 shares during the period. Goldman Sachs Group Inc. increased its holdings in shares of United Security Bancshares by 64.3% in the first quarter. Goldman Sachs Group Inc. now owns 59,523 shares of the financial services provider's stock valued at $533,000 after purchasing an additional 23,284 shares during the period. Finally, Empowered Funds LLC increased 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. Hedge funds and other institutional investors own 30.88% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on UBFO. Wall Street Zen lowered United Security Bancshares from a "hold" rating to a "sell" rating in a report on Friday, July 18th. Weiss Ratings reissued a "buy (b-)" rating on shares of United Security Bancshares in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of "Buy".

Check Out Our Latest Analysis on UBFO

United Security Bancshares Stock Performance

UBFO opened at $9.15 on Friday. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.94 and a quick ratio of 0.94. The firm has a fifty day moving average price of $9.28 and a 200 day moving average price of $8.89. United Security Bancshares has a 1 year low of $7.32 and a 1 year high of $10.49. The stock has a market cap of $159.91 million, a P/E ratio of 13.66 and a beta of 0.42.

United Security Bancshares (NASDAQ:UBFO - Get Free Report) last posted its earnings results on Thursday, October 16th. The financial services provider reported $0.23 earnings per share (EPS) for the quarter. United Security Bancshares had a net margin of 17.51% and a return on equity of 8.58%. The firm had revenue of $14.04 million during the quarter.

United Security Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 21st. Shareholders of record on Friday, October 3rd were given a dividend of $0.12 per share. The ex-dividend date was Friday, October 3rd. This represents a $0.48 dividend on an annualized basis and a yield of 5.2%. United Security Bancshares's dividend payout ratio is currently 71.64%.

Insider Transactions at United Security Bancshares

In other United Security Bancshares news, Director Jagroop Gill purchased 55,814 shares of the stock in a transaction on Thursday, August 7th. The shares were bought at an average price of $8.34 per share, for a total transaction of $465,488.76. Following the completion of the transaction, the director owned 1,281,347 shares of the company's stock, valued at $10,686,433.98. This trade represents a 4.55% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 22.10% of the company's stock.

About United Security Bancshares

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.

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