USCB Financial (NASDAQ:USCB) Given New $22.00 Price Target at Hovde Group

USCB Financial (NASDAQ:USCB) had its target price raised by Hovde Group from $20.00 to $22.00 in a research note published on Monday morning, MarketBeat Ratings reports. The brokerage currently has a market perform rating on the stock.

A number of other analysts have also weighed in on USCB. Zacks Research raised shares of USCB Financial from a “strong sell” rating to a “hold” rating in a report on Monday, March 30th. Raymond James Financial reaffirmed a “strong-buy” rating on shares of USCB Financial in a report on Monday, April 27th. Piper Sandler increased their price objective on USCB Financial from $23.00 to $24.00 and gave the company an “overweight” rating in a research report on Tuesday, April 28th. Wall Street Zen lowered USCB Financial from a “buy” rating to a “hold” rating in a research note on Monday, July 20th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of USCB Financial in a report on Friday, May 29th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, USCB Financial has a consensus rating of “Moderate Buy” and an average price target of $23.67.

USCB Financial Trading Up 4.6%

USCB opened at $22.67 on Monday. USCB Financial has a 1-year low of $16.06 and a 1-year high of $22.85. The stock has a market capitalization of $413.95 million, a PE ratio of 14.91 and a beta of 0.51. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.41. The firm has a 50-day moving average price of $19.63 and a two-hundred day moving average price of $19.26.

USCB Financial (NASDAQ:USCB) last announced its earnings results on Thursday, July 23rd. The company reported $0.49 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.49. USCB Financial had a net margin of 17.24% and a return on equity of 16.07%. The company had revenue of $27.95 million for the quarter, compared to analyst estimates of $26.74 million. As a group, equities analysts anticipate that USCB Financial will post 2.02 earnings per share for the current fiscal year.

USCB Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 4th. Investors of record on Monday, August 17th will be issued a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 2.2%. The ex-dividend date is Monday, August 17th. USCB Financial’s dividend payout ratio is currently 32.89%.

Insider Buying and Selling at USCB Financial

In other news, major shareholder W Kirk Wycoff sold 37,152 shares of the stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $18.24, for a total value of $677,652.48. Following the transaction, the insider owned 1,826,634 shares of the company’s stock, valued at $33,317,804.16. This represents a 1.99% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO La Aguilera Luis De sold 49,414 shares of the stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $18.30, for a total value of $904,276.20. Following the completion of the transaction, the chief executive officer directly owned 242,945 shares in the company, valued at approximately $4,445,893.50. This trade represents a 16.90% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 248,122 shares of company stock valued at $4,514,106. 27.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On USCB Financial

A number of institutional investors have recently made changes to their positions in USCB. Geode Capital Management LLC increased its holdings in USCB Financial by 1.7% in the second quarter. Geode Capital Management LLC now owns 248,716 shares of the company’s stock valued at $4,114,000 after purchasing an additional 4,242 shares during the last quarter. Hsbc Holdings PLC boosted its holdings in USCB Financial by 25.9% during the second quarter. Hsbc Holdings PLC now owns 32,875 shares of the company’s stock worth $546,000 after buying an additional 6,770 shares during the last quarter. First Trust Advisors LP acquired a new position in shares of USCB Financial during the 2nd quarter worth about $212,000. Gabelli Funds LLC acquired a new position in shares of USCB Financial during the 2nd quarter worth about $563,000. Finally, Alliancebernstein L.P. increased its stake in shares of USCB Financial by 9.0% in the 2nd quarter. Alliancebernstein L.P. now owns 973,088 shares of the company’s stock valued at $16,095,000 after acquiring an additional 79,983 shares during the last quarter. 61.34% of the stock is owned by institutional investors and hedge funds.

About USCB Financial

USCB Financial (NASDAQ: USCB) is a bank holding company headquartered in Columbia, South Carolina, serving as the parent company of United Security Bank. Established to support community banking in the Midlands region, the company focuses on relationship-driven financial services tailored to both individuals and businesses. As a regional player, USCB Financial emphasizes personalized service through a network of full-service branch offices.

The company’s core business activities include commercial and consumer lending, deposit products and alternative delivery channels.