USCB Financial (NASDAQ:USCB) Price Target Cut to $24.00 by Analysts at Piper Sandler

Key Points

• Piper Sandler lowered USCB Financial’s price target to $24 from $27 while maintaining an “overweight” rating, implying approximately 19.34% upside from the prior close.
• Analyst sentiment remains positive overall, with a consensus “Moderate Buy” rating and average price target of $23.25; four analysts rate the stock a Buy and two rate it a Hold.
• USCB Financial reported quarterly EPS of $0.51 and revenue of $26.97 million, missing consensus estimates of $0.56 and $29.18 million, respectively. Shares recently traded at $20.11, with a 12-month range of $17.00 to $23.89.

USCB Financial (NASDAQ:USCB - Get Free Report) had its price target reduced by investment analysts at Piper Sandler from $27.00 to $24.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm presently has an "overweight" rating on the stock. Piper Sandler's price objective indicates a potential upside of 19.34% from the company's previous close.

USCB has been the subject of several other research reports. Hovde Group increased their price target on shares of USCB Financial from $20.00 to $22.00 and gave the company a "market perform" rating in a research report on Monday, July 27th. Zacks Research cut shares of USCB Financial from a "strong-buy" rating to a "hold" rating in a research report on Friday, September 25th. Raymond James Financial lowered shares of 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. Wall Street Zen downgraded shares of USCB Financial from a "buy" rating to a "hold" rating in a research note on Saturday, August 22nd. Finally, Keefe, Bruyette & Woods raised their price objective on shares of USCB Financial from $22.00 to $24.00 and gave the stock an "outperform" rating in a report on Monday, August 3rd. Four research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat.com, USCB Financial presently has a consensus rating of "Moderate Buy" and an average price target of $23.25.

USCB Financial Price Performance

Shares of USCB stock traded up $0.37 during trading hours on Tuesday, reaching $20.11. The stock had a trading volume of 21,772 shares, compared to its average volume of 60,087. The firm has a market capitalization of $371.43 million, a PE ratio of 12.73 and a beta of 0.45. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.20. The stock's fifty day simple moving average is $22.45 and its 200 day simple moving average is $20.27. USCB Financial has a 12 month low of $17.00 and a 12 month high of $23.89.

USCB Financial (NASDAQ:USCB - Get Free Report) last announced 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 for the quarter, compared to the consensus estimate of $29.18 million. USCB Financial had a net margin of 17.44% and a return on equity of 15.76%. On average, equities research analysts predict that USCB Financial will post 2.09 EPS for the current year.

Institutional Trading of USCB Financial

A number of large investors have recently made changes to their positions in the stock. WASHINGTON TRUST Co bought a new stake in shares of USCB Financial in the third quarter worth $218,000. Integrated Wealth Concepts LLC bought a new position in USCB Financial in the second quarter valued at about $59,000. Squarepoint Ops LLC boosted its position in USCB Financial by 200.7% in the second quarter. Squarepoint Ops LLC now owns 59,362 shares of the company's stock worth $1,215,000 after purchasing an additional 39,623 shares during the last quarter. Odyssean LLC purchased a new position in USCB Financial in the second quarter worth about $270,000. Finally, Wellington Management Group LLP grew its stake in shares of USCB Financial by 17.8% during the 2nd quarter. Wellington Management Group LLP now owns 539,779 shares of the company's stock valued at $11,044,000 after purchasing an additional 81,450 shares during the period. 61.34% of the stock is currently owned by 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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