Intel stock spikes after report of possible US government stake
In a remarkable display of financial resilience, United Security Bancshares Inc (FUSB) stock has soared to a 52-week high, reaching a price level of $13.49. With a market capitalization of $77.1 million and an "GOOD" overall financial health score according to InvestingPro, the company has demonstrated strong momentum. This peak reflects a significant milestone for the company, marking a period of sustained upward momentum. Over the past year, FUSB has witnessed an impressive 49.19% increase in its stock value, complemented by a notable 35.08% gain in the last six months. The company has maintained dividend payments for 11 consecutive years, with a current yield of 2.08%. This surge to a new 52-week zenith underscores the positive sentiment surrounding the company's prospects and its ability to navigate the dynamic market landscape. InvestingPro subscribers can access 8 additional tips about FUSB's performance and outlook.
In other recent news, First US Bancshares has announced significant financial and strategic developments. The company has expanded its ongoing share repurchase program with the Board of Directors authorizing the repurchase of an additional 600,000 shares. The new authorization extends the program's expiration from December 31, 2024, to December 31, 2025, and brings the total number of shares available for repurchase to 952,813.
In addition to the expansion of its share repurchase program, First US Bancshares has raised its cash dividend by 40%, from $0.05 to $0.07 per share. This increase marks the forty-second consecutive quarter that the company has paid dividends to its shareholders. The new dividend is expected to be paid to eligible shareholders early next year.
First US Bancshares has also welcomed Robert C. Field to its Board of Directors, and to the board of its subsidiary, First US Bank. Field, who brings over 35 years of experience in diverse sectors, will also join the Audit Committee and the Asset/Liability Committee. These recent developments underscore First US Bancshares' ongoing commitment to its shareholders and strategic growth.
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