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

Abrams Capital Management L.P. lowered its position in USCB Financial Holdings, Inc. (NASDAQ:USCB) by 76.9% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 149,786 shares of the company’s stock after selling 499,299 shares during the period. USCB Financial accounts for approximately 0.1% of Abrams Capital Management L.P.’s portfolio, making the stock its 14th biggest holding. Abrams Capital Management L.P. owned approximately 0.77% of USCB Financial worth $1,835,000 at the end of the most recent quarter.

Separately, Kennedy Capital Management LLC grew its holdings in USCB Financial by 7.9% in the 3rd quarter. Kennedy Capital Management LLC now owns 71,717 shares of the company’s stock valued at $754,000 after buying an additional 5,243 shares in the last quarter. Institutional investors own 61.34% of the company’s stock.

Insiders Place Their Bets

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

USCB Financial Trading Up 2.7 %

Shares of USCB traded up $0.31 during trading on Friday, reaching $12.00. 24,689 shares of the company traded hands, compared to its average volume of 21,225. The stock has a 50-day simple moving average of $11.34 and a 200-day simple moving average of $11.58. The stock has a market cap of $235.92 million, a PE ratio of 15.58 and a beta of 0.35. USCB Financial Holdings, Inc. has a twelve month low of $9.32 and a twelve month high of $12.97. 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 (NASDAQ:USCB) last announced its earnings results on Thursday, April 25th. The company reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.21 by $0.02. USCB Financial had a return on equity of 8.50% and a net margin of 13.08%. The company had revenue of $17.62 million for the quarter, compared to analyst estimates of $17.23 million. On average, analysts anticipate that USCB Financial Holdings, Inc. will post 1 earnings per share for the current year.

USCB Financial Announces Dividend

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

Analysts Set New Price Targets

Several research analysts have recently weighed in on USCB shares. Keefe, Bruyette & Woods boosted their price target on shares of USCB Financial from $14.00 to $15.00 and gave the company an “outperform” rating in a research report on Tuesday, January 30th. Raymond James increased their price target on shares of USCB Financial from $12.00 to $13.00 and gave the company an “outperform” rating in a research note on Monday, January 29th.

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.