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United Security Bancshares (UBFO) share price plummeted -7.68% with the closing price of $5.89 on Friday. United Security Bancshares stock has an exchanging volume of 0.16 million shares, which is high, contrasted with its 3-months average volume of 24.37K shares. Its market capitalization has now reached to $97.60M.
United Security Bancshares Reports 3rd Quarter Net Income of $2.3 Million on October 15, 2020 news published at Yahoo.
United Security Bancshares (UBFO) reported its unaudited financial results for the nine months ended September 30, 2020. The Company recognized net income of $7,038,000, or $0.41 per diluted share for the nine months ended September 30, 2020, compared to net income of $12,276,000,or $0.72 per diluted share for the nine months ended September 30, 2019.
Net income for the quarter was $2.27 million, representing a $1.90 million or 45.58% decrease from $4.17 million for the quarter ended September 30, 2019. The decrease is primarily the result of a reduction in interest income related to a lower interest rate environment.
Total assets increased 18.50% to $1.13 billion, compared to $956.92 million at December 31, 2019.
Total loans, net of unearned fees, increased 10.71% to $660.44 million, compared to $596.55 million at December 31, 2019. Included in the increase are $25.89 million in Paycheck Protection Program (PPP) loans.
Total deposits increased 21.56% to $994.78 million, compared to $818.36 million at December 31, 2019.
The allowance for credit losses as a percentage of gross loans decreased to 1.32%, compared to 1.33% at December 31, 2019. The provision for credit losses totaled $4,000 for the quarter, compared to $5,000 for the quarter ended September 30, 2019.
Net interest income after the provision for credit losses was $7,464,000 for the quarter ended September 30, 2020, compared to $9,351,000 for the quarter ended September 30, 2019.
A loss on the fair value of junior subordinated debt of $18,000 was recorded for the quarter, as compared to a $660,000 gain for the quarter ended September 30, 2019.
Book value per share increased to $6.95, compared to $6.83 at December 31, 2019.
Net interest margin decreased to 2.97% from 4.17% for the quarter ended September 30, 2019.
Annualized average cost of deposits decreased to 0.19% from 0.45% for the quarter ended September 30, 2019.
Net charge-offs totaled $157,000, compared to net charge-offs of $226,000 for the quarter ended September 30, 2019.
Capital positions remain well-capitalized with a 11.38% Tier 1 Leverage Ratio compared to 12.82% as of December 31, 2019.
Annualized return on average assets (“ROAA”) was 0.83%, compared to 1.69% for the quarter ended September 30, 2019.
Annualized return on average equity (“ROAE”) was 7.61%, compared to 14.36% for the quarter ended September 30, 2019.
UBFO Past Trading Activity
The market tends to become urbane often, in any event, for prepared investors and traders. In any event, when a merchant got what he/she had expected, the market occasionally chooses to move the other way. This instability leads a few traders questioning and re-thinking their moves. This is the reason becoming acquainted with past price performance, just as both long and short time period, is significant. If we look the past performance, during the last one week, UBFO price has dropped by -11.03%. In the course of past three months sees the stock go down around -15.37%, while it has lost -9.52% over the past six months and -45.11% since the start of the year.
UBFO Earning History
Earnings per share are the amount of profit that a company produces during a specific period, which is usually defined as a quarter (three calendar months) or a year. In recent quarter, the firm recorded a revenue of 8.11 billion.
UBFO Price Performance
Let us presently take a gander at a portion of its probable help and opposition resistance. Late research on United Security Bancshares has seen its stock exchanging -17.51% underneath its three-month high price. A glance at the opposite side additionally observes stock exchanging +1.73% above its three-month low. A more extensive look sees UBFO exchanging -46.06% beneath its 52-week high and 16.87% above from its 52-week low price.
UBFO Instability & Beta Factor
The Volatility of a stock means that the stock’s drop or increase in the event that the more extensive market drops or rushes. A beta score higher than 1 implies that a stock is profoundly unpredictable while underneath 1 implies that the Volatility of a stock is low. If we look trading Volatility. Its 7-day Volatility is around 5.44%, while it has a month to month instability of 4.29%. The company has an ATR (Average True Range) of 0.27 and a beta factor of 0.71.