Piper Sandler Raises USCB Financial (NASDAQ:USCB) Price Target to $23.00

Key Points

• Piper Sandler has raised the price target for USCB Financial from $22.00 to $23.00, indicating a potential upside of 33.29% from the current price.
• Raymond James Financial upgraded USCB Financial from an "outperform" to a "strong-buy" rating, with a new price target of $22.00.
• USCB Financial's quarterly earnings surpassed expectations, reporting an EPS of $0.40 compared to a consensus estimate of $0.38.

USCB Financial (NASDAQ:USCB - Get Free Report) had its price target boosted by analysts at Piper Sandler from $22.00 to $23.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has an "overweight" rating on the stock. Piper Sandler's target price indicates a potential upside of 33.29% from the stock's current price.

Separately, Raymond James Financial raised USCB Financial from an "outperform" rating to a "strong-buy" rating and raised their target price for the stock from $20.00 to $22.00 in a research report on Monday. One research analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $22.00.

USCB Financial Trading Down 1.0%

USCB stock traded down $0.18 during midday trading on Monday, reaching $17.26. The company's stock had a trading volume of 22,449 shares, compared to its average volume of 24,665. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.91 and a current ratio of 0.91. USCB Financial has a 1 year low of $13.85 and a 1 year high of $21.86. The firm has a market capitalization of $346.48 million, a price-to-earnings ratio of 11.75 and a beta of 0.62. The stock has a fifty day simple moving average of $17.10 and a two-hundred day simple moving average of $17.25.

USCB Financial (NASDAQ:USCB - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The company reported $0.40 EPS for the quarter, beating the consensus estimate of $0.38 by $0.02. USCB Financial had a return on equity of 13.39% and a net margin of 19.51%.The business had revenue of $24.40 million for the quarter, compared to analyst estimates of $23.72 million. On average, equities research analysts predict that USCB Financial will post 1.58 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in USCB. Wells Fargo & Company MN increased its holdings in shares of USCB Financial by 32.8% during the 4th quarter. Wells Fargo & Company MN now owns 5,799 shares of the company's stock valued at $103,000 after purchasing an additional 1,431 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in USCB Financial by 12.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 100,597 shares of the company's stock valued at $1,786,000 after buying an additional 11,199 shares during the last quarter. BNP Paribas Financial Markets acquired a new stake in USCB Financial in the fourth quarter valued at approximately $36,000. Bank of America Corp DE boosted its holdings in shares of USCB Financial by 25.9% in the fourth quarter. Bank of America Corp DE now owns 25,552 shares of the company's stock valued at $454,000 after acquiring an additional 5,252 shares during the period. Finally, Millennium Management LLC lifted its holdings in shares of USCB Financial by 59.1% during the fourth quarter. Millennium Management LLC now owns 62,133 shares of the company's stock worth $1,103,000 after purchasing an additional 23,072 shares during the period. 61.34% of the stock is currently owned by institutional investors.

About USCB Financial

USCB Financial Holdings, Inc operates as the bank holding company for U.S. Century Bank that engages in the provision of various personal and business banking products and services in the United States. It accepts various deposit products, including commercial and consumer checking, money market deposit, savings, and time deposit accounts, as well as certificates of deposit.

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