UBCP · UNITED BANCORP INC /OH/
United Bancorp, Inc. operates as the bank holding company for Unified Bank that provides commercial and retail banking services in Ohio. The company offers banking and financial services, including accepting demand, savings, and time deposits, as well as granting commercial, real estate, and consumer loans. United Bancorp, Inc. was founded in 1902 and is headquartered in Martins Ferry, Ohio.
Cap structure and valuation
| Cap structure | |
|---|---|
| SP | $15.34 |
| SO | 5.8M |
| Options | 0.1M |
| Warrants | 0.0M |
| FD SO | 5.8M |
| MC | $89.5M |
| Cash | $27.2M |
| Total debt | $117.5M ⚠ |
| EV | $179.7M |
| TTM Multiples | |
|---|---|
| EV / Revenue | 3.9x |
| EV / EBITDA | — |
| MC / Net Income | 11.5x |
| EV / FCF | — |
| MC / FCF | — |
| Ownership & coverage | |
|---|---|
| Institutional | 13.7% |
| Insiders | 16.7% |
| # Institutions | 41 |
| Analysts | 1 |
| Consensus | — |
| Avg target | $20.00 |
| Short % float | 0.3% |
| Days to cover | 1.59 |
MC = SP × FD SO. EV = MC + Debt − Cash. SP = previous yfinance close. Balance-sheet figures as of 2026-05-01. Multiples use TTM (sum of last 4 quarters); shown as "—" when the denominator is zero or negative, or when fewer than four quarters are reported — a partial sum is not a trailing twelve months. Ownership & coverage per Yahoo Finance as of 2026-07-13 — institutional % is 13F-based, so it can lag a quarter and exceed 100% on share-count timing. Short interest per FINRA bi-monthly reporting, as of 2026-06-29; the float denominator can be unreliable on tiny floats.
Debt figure uncertain — deposit-funded financial institution — debt/EV not a meaningful metric. Verify against the filing before relying on EV.
Financial statements
| 3/31/26 | 12/31/25 | 9/30/25 | 6/30/25 | |
|---|---|---|---|---|
| Total Revenue | 10.01 | 12.60 | 11.98 | 11.80 |
| Revenue YoY % | (10.0%) | 11.8% | 7.4% | 6.7% |
| Gross Profit | 7.91 | 9.77 | 8.38 | 8.22 |
| Gross Profit YoY % | 1.1% | 22.2% | 6.5% | 4.7% |
| Gross Margin % | 79.0% | 77.6% | 69.9% | 69.7% |
| SG&A | 6.16 | 6.73 | 5.98 | 5.84 |
| Interest Expense | 6.51 | 6.89 | 6.73 | 6.59 |
| Pretax Income | 1.75 | 1.97 | 1.91 | 1.94 |
| Tax Provision | (0.16) | (0.06) | (0.02) | 0.02 |
| Net Income | 1.91 | 2.04 | 1.93 | 1.91 |
| Net Margin % | 19.1% | 16.2% | 16.1% | 16.2% |
| Diluted EPS | $0.33 | $0.35 | $0.34 | $0.33 |
| Basic EPS | $0.33 | $0.35 | $0.34 | $0.33 |
| Diluted Avg Shares | 5.5 | — | 5.5 | 5.5 |
| Basic Avg Shares | 5.5 | — | 5.5 | 5.5 |
| LTM | 12/31/25 | 12/31/24 | 12/31/23 | 12/31/22 | |
|---|---|---|---|---|---|
| Total Revenue | 46.40 | 41.49 | 39.52 | 36.85 | 27.66 |
| Revenue YoY % | 11.8% | 5.0% | 7.3% | 33.2% | — |
| Gross Profit | 34.29 | 32.89 | 31.38 | 25.84 | 24.39 |
| Gross Profit YoY % | 4.3% | 4.8% | 21.4% | 5.9% | — |
| Gross Margin % | 73.9% | 79.3% | 79.4% | 70.1% | 88.2% |
| SG&A | 24.71 | 24.14 | 21.67 | 20.85 | 19.89 |
| Interest Expense | 26.72 | 26.46 | 24.80 | 11.01 | 3.27 |
| Pretax Income | 7.57 | 7.67 | 7.29 | 9.49 | 9.54 |
| Tax Provision | (0.22) | (0.09) | (0.11) | 0.54 | 0.88 |
| Net Income | 7.79 | 7.75 | 7.40 | 8.95 | 8.66 |
| Net Margin % | 16.8% | 18.7% | 18.7% | 24.3% | 31.3% |
| Diluted EPS | $1.35 | $1.34 | $1.27 | $1.57 | $1.50 |
| Basic EPS | $1.35 | $1.34 | $1.27 | $1.57 | $1.50 |
| Diluted Avg Shares | 5.5 | 5.5 | 5.5 | 5.5 | 5.5 |
| Basic Avg Shares | 5.5 | 5.5 | 5.5 | 5.5 | 5.5 |
| 3/31/26 | 12/31/25 | 9/30/25 | 6/30/25 | |
|---|---|---|---|---|
| Cash & Equivalents | 27.24 | 46.53 | 45.65 | 49.69 |
| Net PPE | 35.73 | 34.09 | 30.17 | 27.01 |
| Goodwill | 0.68 | 0.68 | 0.68 | 0.68 |
| Other Assets | 794.85 | 776.14 | 790.25 | 770.51 |
| Total Assets | 858.50 | 857.45 | 866.76 | 847.88 |
| Other Liabilities | 791.00 | 786.93 | 800.29 | 788.23 |
| Total Liabilities | 791.00 | 786.93 | 800.29 | 788.23 |
| Retained Earnings | 48.29 | 48.58 | 47.67 | 46.86 |
| Total Equity | 67.50 | 70.52 | 66.47 | 59.66 |
| LTM | 12/31/25 | 12/31/24 | 12/31/23 | 12/31/22 | |
|---|---|---|---|---|---|
| Cash & Equivalents | 27.24 | 46.53 | 19.61 | 40.77 | 30.08 |
| Net PPE | 35.73 | 34.09 | 23.60 | 14.98 | 12.14 |
| Goodwill | 0.68 | 0.68 | 0.68 | 0.68 | 0.68 |
| Other Assets | 794.85 | 776.14 | 772.77 | 763.01 | 714.49 |
| Total Assets | 858.50 | 857.45 | 816.66 | 819.45 | 757.40 |
| Other Liabilities | 791.00 | 786.93 | 753.20 | 755.86 | 697.66 |
| Total Liabilities | 791.00 | 786.93 | 753.20 | 755.86 | 697.66 |
| Retained Earnings | 48.29 | 48.58 | 46.31 | 44.02 | 41.95 |
| Total Equity | 67.50 | 70.52 | 63.46 | 63.59 | 59.74 |
| 3/31/26 | 12/31/25 | 9/30/25 | 6/30/25 | |
|---|---|---|---|---|
| Net Income | 1.91 | 2.04 | 1.93 | 1.91 |
| D&A | 0.41 | 0.35 | 0.30 | 0.29 |
| Stock-Based Comp | 0.10 | 0.09 | 0.09 | 0.09 |
| Δ Working Cap & Other | (2.16) | (0.03) | 0.84 | 1.49 |
| Operating Cash Flow | 0.27 | 2.45 | 3.17 | 3.78 |
| CapEx | (2.04) | (4.27) | (3.53) | (2.32) |
| Other Investing | (26.42) | 23.96 | (14.75) | (3.88) |
| Investing Cash Flow | (28.47) | 19.69 | (18.28) | (6.19) |
| Stock Buyback | (0.37) | (0.19) | 0.00 | (0.08) |
| Dividends Paid | (2.20) | (1.13) | (1.12) | (1.10) |
| Other Financing | 11.48 | (19.94) | 12.20 | 16.88 |
| Financing Cash Flow | 8.91 | (21.26) | 11.09 | 15.70 |
| Free Cash Flow | (1.78) | (1.82) | (0.37) | 1.46 |
| LTM | 12/31/25 | 12/31/24 | 12/31/23 | 12/31/22 | |
|---|---|---|---|---|---|
| Net Income | 7.79 | 7.75 | 7.40 | 8.95 | 8.66 |
| D&A | 1.35 | 1.23 | 0.26 | 1.00 | 1.01 |
| Stock-Based Comp | 0.37 | 0.36 | 0.88 | 0.66 | 1.00 |
| Δ Working Cap & Other | 0.15 | 1.12 | (0.10) | (1.14) | (2.19) |
| Operating Cash Flow | 9.66 | 10.46 | 8.45 | 9.46 | 8.48 |
| CapEx | (12.16) | (11.78) | (9.70) | (1.08) | (0.51) |
| Other Investing | (21.09) | 7.26 | (9.77) | (47.39) | (102.75) |
| Investing Cash Flow | (33.26) | (4.51) | (19.46) | (48.47) | (103.26) |
| Stock Buyback | (0.64) | (0.32) | (0.69) | (0.73) | (0.77) |
| Dividends Paid | (5.55) | (5.48) | (5.11) | (4.79) | (4.56) |
| Other Financing | 20.62 | 26.78 | (4.34) | 55.22 | 47.18 |
| Financing Cash Flow | 14.44 | 20.98 | (10.14) | 49.70 | 41.86 |
| Free Cash Flow | (2.51) | (1.32) | (1.25) | 8.38 | 7.97 |
| 3/31/26 | 12/31/25 | 9/30/25 | 6/30/25 | |
|---|---|---|---|---|
| Current Ratio | — | — | — | — |
| Quick Ratio | — | — | — | — |
| Debt / Equity | 11.72 | 11.16 | 12.04 | 13.21 |
| EBITDA Margin % | — | — | — | — |
| Working Capital | — | — | — | — |
| Net Debt | — | — | — | — |
| ROE % | 2.8% | 2.9% | 2.9% | 3.2% |
| ROA % | 0.2% | 0.2% | 0.2% | 0.2% |
| LTM | 12/31/25 | 12/31/24 | 12/31/23 | 12/31/22 | |
|---|---|---|---|---|---|
| Current Ratio | — | — | — | — | — |
| Quick Ratio | — | — | — | — | — |
| Debt / Equity | 11.72 | 11.16 | 11.87 | 11.89 | 11.68 |
| EBITDA Margin % | — | — | — | — | — |
| Working Capital | — | — | — | — | — |
| Net Debt | — | — | — | — | — |
| ROE % | 11.5% | 11.0% | 11.7% | 14.1% | 14.5% |
| ROA % | 0.9% | 0.9% | 0.9% | 1.1% | 1.1% |
Insider activity (last 2 years)
| Date Filed | Reporter | Relationship | Trans. Date | Code | Shares | Price | Total Value |
|---|---|---|---|---|---|---|---|
| 2026-05-28 | Schunn Bethany E | Director, Other (Director Unified Bank) | 2026-05-28 | P | 1,175 | $14.93 | $17,543 |
| 2026-05-28 | GREENWOOD RANDALL M | Officer (SR VP CFO and Treasurer) | 2026-05-27 | P | 1,034 | $14.93 | $15,438 |
| 2026-05-28 | Ball Erin S | Director | 2026-05-27 | P | 632 | $14.93 | $9,436 |
| 2026-05-28 | Clark Jonathan CHASE | Director | 2026-05-27 | P | 1,511 | $14.93 | $22,559 |
| 2026-05-28 | HOOPINGARNER JOHN M | Director | 2026-05-27 | P | 931 | $14.93 | $13,900 |
| 2026-05-28 | Branstetter Matthew Fredrick | Officer (Chief Operating Officer) | 2026-05-27 | P | 380 | $14.93 | $5,673 |
| 2026-05-28 | EVERSON SCOTT A | Officer (Chairman Pres and CEO) | 2026-05-27 | P | 2,213 | $14.93 | $33,040 |
| 2026-05-28 | Glessner Gary W | Director | 2026-05-27 | P | 3,527 | $14.93 | $52,658 |
| 2025-05-23 | Branstetter Matthew Fredrick | Officer (SVP COO) | 2025-05-22 | P | 339 | $13.62 | $4,617 |
| 2025-05-23 | HOOPINGARNER JOHN M | Director | 2025-05-22 | P | 927 | $13.62 | $12,626 |
| 2025-05-23 | EVERSON SCOTT A | Officer (Chairman, President and CEO) | 2025-05-22 | P | 2,197 | $13.62 | $29,923 |
| 2025-05-23 | Hendershot Brian M | Director | 2025-05-22 | P | 2,207 | $13.62 | $30,059 |
| 2025-05-23 | Glessner Gary W | Director | 2025-05-22 | P | 3,497 | $13.62 | $47,629 |
| 2025-05-23 | GREENWOOD RANDALL M | Officer (SVP CFO) | 2025-05-22 | P | 1,006 | $13.62 | $13,702 |
| 2025-05-23 | Schunn Bethany E | Director | 2025-05-22 | P | 836 | $13.62 | $11,386 |
| 2024-06-24 | Branstetter Matthew Fredrick | Officer (SVP COO) | 2024-06-21 | P | 588 | $12.33 | $7,250 |
| 2024-06-24 | Glessner Gary W | Director | 2024-06-21 | P | 3,329 | $12.33 | $41,047 |
| 2024-06-24 | Hendershot Brian M | Director | 2024-06-21 | P | 1,620 | $12.33 | $19,975 |
| 2024-06-24 | Schunn Bethany E | Director | 2024-06-21 | P | 1,569 | $12.33 | $19,346 |
| 2024-06-24 | EVERSON SCOTT A | Officer (President and CEO) | 2024-06-21 | P | 2,092 | $12.33 | $25,794 |
| 2024-06-24 | HOOPINGARNER JOHN M | Director | 2024-06-21 | P | 872 | $12.33 | $10,752 |
| 2024-06-24 | GREENWOOD RANDALL M | Officer (SVP CFO) | 2024-06-21 | P | 1,050 | $12.33 | $12,946 |
| 2024-06-24 | Glessner Gary W | Director | 2024-06-21 | P | 580 | $12.16 | $7,053 |