USCB Financial (NASDAQ:USCB) Upgraded by Raymond James Financial to "Strong-Buy" Rating

Key Points

• Raymond James Financial upgraded USCB Financial's rating from "outperform" to "strong-buy", increasing the target price from $20.00 to $22.00, indicating an upside potential of 26.22%.
• USCB Financial reported earnings of $0.40 per share for the last quarter, surpassing the consensus estimate of $0.38 and achieving a net margin of 19.51%.
• Institutional investors own 61.34% of USCB Financial's stock, with notable increases in positions from Alliancebernstein L.P. and other firms in the second quarter.

Raymond James Financial upgraded shares of USCB Financial (NASDAQ:USCB - Free Report) from an outperform rating to a strong-buy rating in a research report report published on Monday, MarketBeat reports. They currently have $22.00 target price on the stock, up from their prior target price of $20.00.

USCB Financial Stock Performance

USCB Financial stock traded down $0.07 during midday trading on Monday, reaching $17.36. 29,806 shares of the stock traded hands, compared to its average volume of 19,532. The firm has a fifty day moving average price of $17.15 and a two-hundred day moving average price of $17.22. The firm has a market cap of $348.59 million, a price-to-earnings ratio of 11.81 and a beta of 0.62. USCB Financial has a fifty-two week low of $13.90 and a fifty-two week high of $21.86. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.47.

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

USCB Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 5th. Shareholders of record on Friday, August 15th were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 2.3%. The ex-dividend date was Friday, August 15th. USCB Financial's dividend payout ratio is currently 27.21%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. BNP Paribas Financial Markets acquired a new position in USCB Financial in the 4th quarter valued at $36,000. Police & Firemen s Retirement System of New Jersey bought a new position in shares of USCB Financial during the 2nd quarter worth about $38,000. Tower Research Capital LLC TRC lifted its holdings in shares of USCB Financial by 2,081.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 4,210 shares of the company's stock worth $70,000 after acquiring an additional 4,017 shares during the period. Wells Fargo & Company MN lifted 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 worth $103,000 after acquiring an additional 1,431 shares during the period. Finally, Deutsche Bank AG acquired a new stake in shares of USCB Financial during the 1st quarter worth about $165,000. 61.34% of the stock is currently owned by institutional investors and hedge funds.

USCB Financial Company Profile

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.