USCB Financial (NASDAQ:USCB) Cut to Strong Sell at Zacks Research

Key Points

• Zacks Research downgraded USCB Financial to “strong sell” from “hold,” although the broader analyst consensus remains “Moderate Buy” with a $23.25 target price.
• USCB shares opened at $20.04, below their 50-day moving average of $22.40, while the stock has traded between $17.00 and $23.89 over the past year.
• The company missed quarterly expectations, reporting $0.51 in earnings per share versus a $0.56 consensus estimate and revenue of $26.97 million versus $29.18 million expected; institutional investors own 61.34% of shares.

USCB Financial (NASDAQ:USCB - Get Free Report) was downgraded by investment analysts at Zacks Research from a "hold" rating to a "strong sell" rating in a research note issued on Monday, Zacks reports.

Several other analysts also recently issued reports on USCB. Wall Street Zen downgraded USCB Financial from a "buy" rating to a "hold" rating in a research note on Saturday, August 22nd. Weiss Ratings raised shares of USCB Financial from a "buy (b)" rating to a "buy (b+)" rating in a report on Thursday, October 8th. Hovde Group lifted their price objective on shares of USCB Financial from $20.00 to $22.00 and gave the stock a "market perform" rating in a research note on Monday, July 27th. Raymond James Financial cut USCB Financial from a "strong-buy" rating to an "outperform" rating and cut their target price for the company from $25.00 to $23.00 in a research note on Monday. Finally, Piper Sandler cut their price target on shares of USCB Financial from $27.00 to $24.00 and set an "overweight" rating on the stock in a report on Tuesday. Four research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $23.25.

USCB Financial Price Performance

NASDAQ:USCB opened at $20.04 on Monday. The business has a fifty day moving average price of $22.40 and a 200-day moving average price of $20.27. USCB Financial has a one year low of $17.00 and a one year high of $23.89. The firm has a market capitalization of $370.22 million, a price-to-earnings ratio of 12.68 and a beta of 0.45.

USCB Financial (NASDAQ:USCB - Get Free Report) last posted its quarterly earnings data on Thursday, October 22nd. The company reported $0.51 EPS for the quarter, missing the consensus estimate of $0.56 by ($0.05). The firm had revenue of $26.97 million during the quarter, compared to analysts' expectations of $29.18 million. On average, equities research analysts expect that USCB Financial will post 2.09 earnings per share for the current fiscal year.

Institutional Investors Weigh In On USCB Financial

Large investors have recently made changes to their positions in the stock. SG Americas Securities LLC raised its stake in USCB Financial by 16.7% in the 1st quarter. SG Americas Securities LLC now owns 6,363 shares of the company's stock worth $118,000 after acquiring an additional 910 shares during the last quarter. PNC Financial Services Group Inc. acquired a new position in shares of USCB Financial in the first quarter valued at about $41,000. Integrated Wealth Concepts LLC acquired a new position in shares of USCB Financial in the second quarter valued at about $59,000. North Reef Capital Management LP increased its holdings in shares of USCB Financial by 3.5% in the first quarter. North Reef Capital Management LP now owns 128,093 shares of the company's stock valued at $2,375,000 after purchasing an additional 4,352 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in shares of USCB Financial by 10.9% in the first quarter. Bank of New York Mellon Corp now owns 48,008 shares of the company's stock worth $890,000 after purchasing an additional 4,711 shares during the last quarter. 61.34% of the stock is owned by hedge funds and other institutional investors.

About USCB Financial

USCB Financial Corp. is the bank holding company for U.S. Century Bank, a community bank headquartered in South Florida. The bank provides financial products and services to individuals, businesses, professionals and nonprofit organizations in the region, with a particular focus on the Miami-Dade County market and surrounding South Florida communities.

U.S. Century Bank offers deposit accounts, commercial and residential real estate loans, commercial and industrial lending, consumer loans and small business financing.

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