As always, it depends. For a baseline security to make sure only the intended good-natured device will connect to that port, it will be ok. But if you have someone with bad intent on that port, he will directly change his MAC-address to one of the allowed ones and goes through. If you need a higher degree of security, 802.1X is the solution. But this is not implemented as easy as sticky MACs are. And hubs? You mean the devices that were sold in the previous millennium? Well, hopefully you don't have any of these in your network any more. But just theoretically, all devices on the hub would be visible on the switch port and only the allowed ones can communicate.
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