Raymond James Downgrades USCB Financial (NASDAQ:USCB) to Market Perform

Raymond James lowered shares of USCB Financial (NASDAQ:USCB) from an outperform rating to a market perform rating in a report released on Wednesday, Marketbeat Ratings reports.

USCB Financial Price Performance

NASDAQ:USCB opened at $18.46 on Wednesday. The firm has a market capitalization of $370.18 million, a price-to-earnings ratio of 15.01 and a beta of 0.64. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.91 and a quick ratio of 0.91. The business has a 50 day simple moving average of $18.89 and a 200-day simple moving average of $17.83. USCB Financial has a 1 year low of $10.25 and a 1 year high of $21.86.

USCB Financial (NASDAQ:USCB) last posted its quarterly earnings data on Thursday, January 23rd. The company reported $0.34 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.02). USCB Financial had a return on equity of 12.14% and a net margin of 17.14%. Equities analysts forecast that USCB Financial will post 1.58 EPS for the current year.

USCB Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Friday, February 14th were paid a $0.10 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $0.40 annualized dividend and a yield of 2.17%. This is an increase from USCB Financial’s previous quarterly dividend of $0.05. USCB Financial’s dividend payout ratio (DPR) is presently 32.52%.

Institutional Investors Weigh In On USCB Financial

Hedge funds and other institutional investors have recently modified their holdings of the business. Kennedy Capital Management LLC grew its position in USCB Financial by 309.5% in the 4th quarter. Kennedy Capital Management LLC now owns 285,305 shares of the company’s stock valued at $5,064,000 after acquiring an additional 215,636 shares during the last quarter. Mendon Capital Advisors Corp boosted its stake in shares of USCB Financial by 7.4% during the fourth quarter. Mendon Capital Advisors Corp now owns 674,811 shares of the company’s stock valued at $11,978,000 after purchasing an additional 46,206 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of USCB Financial by 159.3% in the fourth quarter. JPMorgan Chase & Co. now owns 51,043 shares of the company’s stock worth $906,000 after purchasing an additional 31,357 shares during the last quarter. Millennium Management LLC increased its stake in USCB Financial by 59.1% in the 4th quarter. Millennium Management LLC now owns 62,133 shares of the company’s stock worth $1,103,000 after buying an additional 23,072 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its position in USCB Financial by 70.6% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 45,967 shares of the company’s stock valued at $816,000 after buying an additional 19,028 shares during the period. 61.34% of the stock is currently owned by hedge funds and other institutional investors.

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.