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Director Gill Jagroop of United Security Bancshares (NASDAQ:UBFO), a $151 million market cap regional bank, purchased 55,814 shares of common stock on August 7, 2025, in one transaction. InvestingPro analysis shows the stock currently trades at a P/E ratio of 13.2 and offers an attractive 5.6% dividend yield, having maintained consistent dividend payments for 9 consecutive years.
The shares were bought at a price of $8.3366, totaling approximately $465,298. Following the transaction, Jagroop directly owns 1,281,347 shares of United Security Bancshares. According to InvestingPro Fair Value metrics, the stock appears slightly overvalued at current levels, though it remains profitable with multiple positive indicators. Subscribers can access 10+ additional exclusive insights about UBFO on InvestingPro.
In other recent news, United Security Bancshares has appointed Baker Tilly US, LLP as its new independent registered public accounting firm following a merger involving its previous auditor, Moss Adams LLP. This change was approved by the company’s Audit Committee, and the audit reports from Moss Adams for the fiscal years ending December 31, 2024, and 2023 were not modified or qualified. Additionally, during its annual shareholders’ meeting, the company successfully elected all 10 board nominees and approved the 2025 Equity Incentive Award Plan. However, a proposal to increase authorized common shares was not approved by shareholders.
The shareholders also ratified Moss Adams LLP as the independent accounting firm for 2024, prior to the recent merger with Baker Tilly. In another development, United Security Bancshares announced the retirement of its Senior Vice President and Chief Operating Officer, David Eytcheson, effective May 9, 2025. The company has not yet disclosed plans for Eytcheson’s successor or any changes in strategic direction following his departure. These events mark significant updates for the company, impacting its leadership and operational oversight.
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