Basswood Capital Management L.L.C. Purchases 101,384 Shares of USCB Financial Holdings, Inc. (NASDAQ:USCB)

Basswood Capital Management L.L.C. lifted its holdings in shares of USCB Financial Holdings, Inc. (NASDAQ:USCB - Free Report) by 22.6% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 550,349 shares of the company's stock after buying an additional 101,384 shares during the period. Basswood Capital Management L.L.C. owned about 2.81% of USCB Financial worth $8,393,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of USCB. Mendon Capital Advisors Corp raised its holdings in shares of USCB Financial by 611.6% during the 2nd quarter. Mendon Capital Advisors Corp now owns 610,136 shares of the company's stock worth $7,828,000 after buying an additional 524,398 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of USCB Financial by 15.4% during the 1st quarter. Vanguard Group Inc. now owns 436,923 shares of the company's stock worth $4,981,000 after buying an additional 58,365 shares in the last quarter. Renaissance Technologies LLC raised its holdings in shares of USCB Financial by 88.6% during the 2nd quarter. Renaissance Technologies LLC now owns 66,401 shares of the company's stock worth $852,000 after buying an additional 31,190 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of USCB Financial during the 3rd quarter worth $411,000. Finally, Salzhauer Michael raised its holdings in shares of USCB Financial by 76.4% during the 2nd quarter. Salzhauer Michael now owns 31,000 shares of the company's stock worth $398,000 after buying an additional 13,428 shares in the last quarter. Institutional investors and hedge funds own 61.34% of the company's stock.

Insider Activity at USCB Financial

In other news, Director Ramon A. Rodriguez bought 6,000 shares of the firm's stock in a transaction dated Monday, September 16th. The stock was purchased at an average price of $14.61 per share, with a total value of $87,660.00. Following the transaction, the director now owns 12,000 shares of the company's stock, valued at approximately $175,320. The trade was a 100.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 48.50% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

USCB has been the subject of a number of recent research reports. Hovde Group initiated coverage on USCB Financial in a report on Monday, August 12th. They issued a "market perform" rating and a $16.00 target price for the company. Piper Sandler raised USCB Financial from a "neutral" rating to an "overweight" rating and increased their price target for the company from $17.00 to $20.00 in a research note on Monday, November 4th. Finally, Raymond James upgraded USCB Financial from a "moderate buy" rating to a "strong-buy" rating in a research report on Friday, November 1st.

USCB Financial Price Performance

NASDAQ:USCB traded down $0.13 during trading hours on Monday, hitting $20.35. 26,888 shares of the company's stock traded hands, compared to its average volume of 26,083. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.55. The business's fifty day simple moving average is $16.73 and its two-hundred day simple moving average is $14.71. USCB Financial Holdings, Inc. has a 52 week low of $10.25 and a 52 week high of $21.86. The firm has a market cap of $403.76 million, a P/E ratio of 19.63 and a beta of 0.40.

USCB Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Friday, November 15th will be issued a dividend of $0.05 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $0.20 dividend on an annualized basis and a yield of 0.98%. USCB Financial's dividend payout ratio is presently 19.42%.

USCB Financial 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.