Abrams Capital Management L.P. Decreases Holdings in USCB Financial Holdings, Inc. (NASDAQ:USCB)

Abrams Capital Management L.P. trimmed its stake in USCB Financial Holdings, Inc. (NASDAQ:USCBFree Report) by 76.9% during the fourth quarter, Holdings Channel reports. The fund owned 149,786 shares of the company’s stock after selling 499,299 shares during the period. USCB Financial makes up approximately 0.1% of Abrams Capital Management L.P.’s portfolio, making the stock its 14th largest position. Abrams Capital Management L.P.’s holdings in USCB Financial were worth $1,835,000 at the end of the most recent reporting period.

Separately, Kennedy Capital Management LLC raised its holdings in shares of USCB Financial by 7.9% in the 3rd quarter. Kennedy Capital Management LLC now owns 71,717 shares of the company’s stock worth $754,000 after purchasing an additional 5,243 shares during the period. 61.34% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on USCB shares. Keefe, Bruyette & Woods raised their target price on USCB Financial from $14.00 to $15.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 30th. Raymond James lifted their price objective on USCB Financial from $12.00 to $13.00 and gave the stock an “outperform” rating in a report on Monday, January 29th.

Get Our Latest Report on USCB Financial

USCB Financial Stock Performance

USCB traded up $0.31 on Friday, hitting $12.00. The company’s stock had a trading volume of 24,689 shares, compared to its average volume of 21,225. The company’s 50 day simple moving average is $11.34 and its 200-day simple moving average is $11.58. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.83. USCB Financial Holdings, Inc. has a 12 month low of $9.32 and a 12 month high of $12.97. The firm has a market cap of $235.92 million, a P/E ratio of 15.58 and a beta of 0.35.

USCB Financial (NASDAQ:USCBGet Free Report) last announced its quarterly earnings results on Thursday, April 25th. The company reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.02. The company had revenue of $17.62 million during the quarter, compared to analysts’ expectations of $17.23 million. USCB Financial had a return on equity of 8.50% and a net margin of 13.08%. Analysts forecast that USCB Financial Holdings, Inc. will post 1 EPS for the current year.

USCB Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 5th. Stockholders of record on Wednesday, May 15th will be issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.67%. The ex-dividend date is Tuesday, May 14th. USCB Financial’s payout ratio is 25.97%.

Insider Activity

In other news, Director Howard Feinglass purchased 10,000 shares of USCB Financial stock in a transaction dated Tuesday, February 27th. The stock was purchased at an average cost of $11.07 per share, for a total transaction of $110,700.00. Following the transaction, the director now directly owns 4,518,309 shares of the company’s stock, valued at $50,017,680.63. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. In other USCB Financial news, CFO Robert B. Anderson bought 7,000 shares of the firm’s stock in a transaction on Thursday, May 23rd. The shares were acquired at an average cost of $12.12 per share, for a total transaction of $84,840.00. Following the purchase, the chief financial officer now directly owns 86,933 shares of the company’s stock, valued at $1,053,627.96. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Howard Feinglass bought 10,000 shares of the firm’s stock in a transaction on Tuesday, February 27th. The stock was acquired at an average price of $11.07 per share, for a total transaction of $110,700.00. Following the completion of the purchase, the director now directly owns 4,518,309 shares in the company, valued at $50,017,680.63. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 52,789 shares of company stock worth $602,345. 48.50% of the stock is owned by company insiders.

About USCB Financial

(Free Report)

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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Institutional Ownership by Quarter for USCB Financial (NASDAQ:USCB)

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