United Bancorp (UBCP) AI Stock Analysis

• Market Cap: $94.30M
• Dividend Yield: 6.51%
• Average Volume (3M): 4.31K
• Price to Earnings (P/E): 10.2
• Beta (1Y): >-0.01
• Revenue Growth: 6.31%
• EPS Growth: -5.00%
• Country: US
• Employees: 115
• Sector: Financial
• Sector Strength: 70
• Industry: Banks - Regional
• EPS (TTM): 0.35
• Shares Outstanding: 5,756,852
• 10 Day Avg. Volume: 3,318
• 30 Day Avg. Volume: 4,310
• PEG Ratio: 0.92
• Price to Book (P/B): 1.12
• Price to Sales (P/S): 1.66
• P/FCF Ratio: -43.23
• Enterprise Value/Market Cap: 2.30
• Enterprise Value/Revenue: 4.57
• Enterprise Value/Gross Profit: 6.78
• Enterprise Value/Ebitda: 23.42
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): 1.55
• Revenue Forecast (FY): N/A

• Rating: 66 Neutral
• Price Target: $17.50 ▲(20.77% Upside)
• Action: Reiterated Date: 03/21/26
• Date: Action: Reiterated 03/21/26

The score is primarily held back by weaker cash conversion (negative free cash flow in 2024–2025) and added CRE concentration risk, despite improved leverage and steady revenue/profitability. Support comes from constructive technical trend signals, a relatively low P/E with a high dividend yield, and a positive dividend-related corporate event.

Positive Factors

Improved leverage

A materially improved leverage profile in 2025 strengthens the bank’s loss-absorbing capacity and funding resilience. A more conservative debt/equity mix supports sustained lending, regulatory flexibility and lower refinancing stress during economic cycles, enhancing long-term stability.

Steady revenue growth

Consistent low-to-mid single-digit revenue growth indicates stable franchise momentum in core retail and commercial markets. Predictable top-line expansion supports recurring net interest income, helps absorb cost increases, and underpins medium-term profitability and strategic investments.

Strong capital & liquidity

Management’s decision to pay a special dividend citing ample liquidity and strong capital reflects durable capital generation and conservative balance-sheet management. This indicates capacity to return excess capital while maintaining buffers to support lending and absorb shocks over the medium term.

Negative Factors

Negative free cash flow

Conversion of earnings into free cash has weakened, with FCF turning negative in 2024–2025. Persistent negative FCF limits internal funding for loan growth, technology and branch investment, and reduces the cushion for provisioning or dividends without relying more on external funding.

CRE concentration risk

A rising portfolio concentration in commercial real estate increases earnings and capital volatility through real estate cycles. Higher CRE exposure heightens downside risk to asset quality and provisioning needs, stressing capital ratios and lending capacity in prolonged regional real estate slowdowns.

Eroding margins

A meaningful downward trend in net margins since 2022–2023 reduces earnings resilience. If margins are pressured by higher funding costs, mix shifts, or rising expenses, sustained compression would limit retained earnings growth and constrain capital accumulation over the medium term.

United Bancorp Business Overview & Revenue Model

Company Description

United Bancorp, Inc. operates as the bank holding company for Unified Bank that provides commercial and retail banking services in Ohio. It accepts demand, savings, and time deposits, as well as grants commercial, commercial and residential real estate, and consumer loans. As of December 31, 2021, the company operated through a network of banking offices in Athens, Belmont, Carroll, Fairfield, Harrison, Jefferson, and Tuscarawas Counties in Ohio, as well as Marshall and Ohio Counties in West Virginia and the surrounding localities; and a loan production office in Wheeling, West Virginia. United Bancorp, Inc. was founded in 1902 and is headquartered in Martins Ferry, Ohio.

How the Company Makes Money

United Bancorp makes money primarily through its banking subsidiary by (1) generating net interest income and (2) earning noninterest income, while incurring operating expenses and provisioning for credit losses. 1) Net interest income (core earnings driver): The bank earns interest and fees on loans (e.g., commercial and industrial lending, commercial and residential real estate lending, and consumer loans) and on its securities and other interest-earning assets. It pays interest to depositors (interest-bearing checking, savings, money market accounts, and certificates of deposit) and on any borrowings. The difference between interest income and interest expense (the net interest margin) is typically the largest source of revenue for a community bank. Loan growth, the mix between higher-yielding loans versus lower-yielding assets, funding costs (especially deposit pricing), and changes in market interest rates are key factors affecting earnings. 2) Noninterest income (fees and service charges): The bank also earns revenue from customer fees and other service-related income associated with deposit accounts and payment services (for example, service charges and other account-related fees). Specific noninterest income categories beyond general banking fee income are not available (null). 3) Credit and operating factors that impact profitability: Profitability depends on credit performance (loan losses and the provision for credit losses), operating efficiency (personnel, occupancy, technology, and other noninterest expenses), and regulatory/compliance costs typical for insured depository institutions. Significant partnerships or material revenue-sharing arrangements are not available (null).

United Bancorp Financial Statement Overview

Summary

Income statement trends are decent (steady revenue growth, still-solid profitability), and leverage appears materially improved in 2025 with low-teens ROE. The main drag is cash generation: free cash flow turned negative in 2024–2025 despite positive earnings, which weakens financial flexibility. KPI context also adds risk: a growing tilt toward commercial real estate increases cyclical credit concentration.

Income Statement

Revenue has grown steadily from 2023–2025 (low-to-mid single digits most recently), but profitability has softened versus the 2021–2023 peak. Net margins and operating profitability remain solid for the period, yet have trended down meaningfully since 2022–2023, suggesting some pressure from costs, mix, or credit/interest-rate dynamics.

Balance Sheet

Leverage improved sharply in 2025, with debt relative to equity moving from very elevated levels in 2023–2024 to a much more conservative position in 2025. Equity has been stable-to-up, and returns on equity remain healthy around the low-teens. The main watch-out is the prior period’s high leverage profile (2023–2024), which highlights balance-sheet sensitivity if conditions tighten again.

Cash Flow

Operating cash flow is positive, but free cash flow has been inconsistent—strongly positive in 2021–2023 and turning negative in 2024–2025. The latest year shows a sharp deterioration in free cash flow growth and negative free cash flow relative to net income, indicating earnings are not currently translating into residual cash after investing needs.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	47.50M	43.98M	40.90M	31.74M	30.41M
Gross Profit	31.99M	28.96M	30.34M	29.43M	29.07M
EBITDA	9.26M	8.52M	10.64M	10.70M	11.97M
Net Income	7.75M	7.40M	8.95M	8.66M	9.45M
Balance Sheet
Total Assets	857.44M	816.66M	819.45M	757.40M	724.46M
Cash, Cash Equivalents and Short-Term Investments	163.12M	138.84M	210.73M	247.70M	229.31M
Total Debt	131.27M	132.21M	128.33M	41.83M	39.37M
Total Liabilities	786.93M	753.20M	755.86M	697.66M	652.75M
Stockholders Equity	70.52M	63.46M	63.59M	59.74M	71.70M
Cash Flow
Free Cash Flow	-1.82M	-1.25M	8.38M	7.97M	7.42M
Operating Cash Flow	9.96M	8.45M	9.46M	8.48M	8.19M
Investing Cash Flow	-4.01M	-19.46M	-48.47M	-103.26M	-1.21M
Financing Cash Flow	20.98M	-10.14M	49.70M	41.86M	24.42M

United Bancorp Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 14.49
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Negative
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For UBCP, the sentiment is Positive. The current price of 14.49 is below the 20-day moving average (MA) of 14.95, above the 50-day MA of 14.25, and above the 200-day MA of 13.50, indicating a bullish trend. The MACD of 0.36 indicates Negative momentum. The RSI at 70.71 is Negative, neither overbought nor oversold. The STOCH value of 46.22 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for UBCP.

United Bancorp Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
BOTJ	73 Outperform	$90.96M	9.36	12.15%	2.18%	6.17%	-6.13%
Sector *	68 Neutral	$18.00B	11.42	9.92%	3.81%	9.73%	1.22%
UBCP	66 Neutral	$94.30M	10.17	12.01%	6.51%	6.31%	-5.00%
FUSB	65 Neutral	$83.11M	13.56	5.80%	2.08%	1.03%	-35.72%
BYFC	54 Neutral	$70.32M	-0.65	-8.79%	―	2.54%	-174.74%
FNWB	46 Neutral	$80.42M	-21.37	-2.76%	2.88%	8.02%	21.36%
SSBI	45 Neutral	$88.46M	11.51	6.89%	―	-0.81%	-129.22%

United Bancorp Corporate Events

United Bancorp Declares Regular and Special Shareholder Dividends

On February 18, 2026, United Bancorp, Inc.’s Board of Directors declared its regular dividend for the first quarter of 2026 along with a one-time special dividend, both payable on March 20, 2026 to shareholders of record on March 10, 2026. The move, disclosed in a February 19, 2026 press release, underscores the company’s capital strength and commitment to returning value to shareholders through enhanced cash distributions.

The most recent analyst rating on (UBCP) stock is a Hold with a $15.00 price target. To see the full list of analyst forecasts on United Bancorp stock, see the UBCP Stock Forecast page.