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

Raymond James cut shares of USCB Financial (NASDAQ:USCB - Free Report) from an outperform rating to a market perform rating in a research report released on Wednesday, Marketbeat.com reports.

USCB Financial Stock Down 1.8 %

USCB traded down $0.31 on Wednesday, hitting $16.69. The company had a trading volume of 14,182 shares, compared to its average volume of 28,254. The stock has a market capitalization of $334.60 million, a price-to-earnings ratio of 13.57 and a beta of 0.65. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.91 and a current ratio of 0.91. The stock has a fifty day moving average price of $18.82 and a 200-day moving average price of $17.88. USCB Financial has a 12-month low of $10.25 and a 12-month high of $21.86.

USCB Financial (NASDAQ:USCB - Get Free Report) last posted its quarterly earnings data on Thursday, January 23rd. The company reported $0.34 earnings per share for the quarter, missing analysts' consensus estimates of $0.36 by ($0.02). USCB Financial had a return on equity of 12.14% and a net margin of 17.14%. Analysts predict that USCB Financial will post 1.58 EPS for the current fiscal year.

USCB Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Friday, February 14th were given a $0.10 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $0.40 dividend on an annualized basis and a yield of 2.40%. This is a positive change from USCB Financial's previous quarterly dividend of $0.05. USCB Financial's dividend payout ratio is currently 32.52%.

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Hedge Funds Weigh In On USCB Financial

A number of institutional investors have recently bought and sold shares of the business. Kennedy Capital Management LLC increased its stake in shares of USCB Financial by 309.5% in the fourth quarter. Kennedy Capital Management LLC now owns 285,305 shares of the company's stock worth $5,064,000 after acquiring an additional 215,636 shares during the period. Mendon Capital Advisors Corp boosted its holdings in USCB Financial by 7.4% in 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 last quarter. JPMorgan Chase & Co. grew its position in USCB Financial by 159.3% during the 4th 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 period. Millennium Management LLC raised its stake 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 valued at $1,103,000 after buying an additional 23,072 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of 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 owned by hedge funds and other institutional investors.

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.