Mendon Capital Advisors Corp Lowers Stock Position in USCB Financial Holdings, Inc. $USCB

Mendon Capital Advisors Corp cut its holdings in shares of USCB Financial Holdings, Inc. (NASDAQ:USCB) by 0.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 670,178 shares of the company’s stock after selling 4,633 shares during the quarter. USCB Financial accounts for 6.1% of Mendon Capital Advisors Corp’s holdings, making the stock its 2nd largest position. Mendon Capital Advisors Corp owned 3.34% of USCB Financial worth $12,439,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the business. Dimensional Fund Advisors LP increased its holdings in shares of USCB Financial by 12.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 100,597 shares of the company’s stock worth $1,786,000 after purchasing an additional 11,199 shares during the period. Millennium Management LLC boosted its position in shares of USCB Financial by 59.1% during the 4th quarter. Millennium Management LLC now owns 62,133 shares of the company’s stock worth $1,103,000 after acquiring an additional 23,072 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of USCB Financial by 15.4% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 53,055 shares of the company’s stock worth $985,000 after acquiring an additional 7,088 shares in the last quarter. Keeley Teton Advisors LLC boosted its position in shares of USCB Financial by 36.4% during the 1st quarter. Keeley Teton Advisors LLC now owns 33,902 shares of the company’s stock worth $629,000 after acquiring an additional 9,044 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of USCB Financial by 5.2% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 31,912 shares of the company’s stock worth $592,000 after acquiring an additional 1,581 shares in the last quarter. 61.34% of the stock is owned by institutional investors.

USCB Financial Stock Performance

Shares of USCB Financial stock opened at $17.49 on Wednesday. USCB Financial Holdings, Inc. has a fifty-two week low of $13.85 and a fifty-two week high of $21.86. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.91 and a quick ratio of 0.91. The firm has a market capitalization of $351.20 million, a P/E ratio of 11.90 and a beta of 0.62. The company’s 50 day moving average price is $17.12 and its two-hundred day moving average price is $17.24.

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

USCB Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 5th. Stockholders of record on Friday, August 15th were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date was Friday, August 15th. USCB Financial’s payout ratio is 27.21%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on USCB. Raymond James Financial upgraded shares of USCB Financial from an “outperform” rating to a “strong-buy” rating and increased their price target for the stock from $20.00 to $22.00 in a research report on Monday. Piper Sandler increased their price target on shares of USCB Financial from $22.00 to $23.00 and gave the stock an “overweight” rating in a research report on Monday. One equities research analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $22.00.

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.