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

Basswood Capital Management L.L.C. boosted its position in shares of USCB Financial Holdings, Inc. (NASDAQ:USCB) by 22.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund 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 approximately 2.81% of USCB Financial worth $8,393,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. MetLife Investment Management LLC increased its position in USCB Financial by 129.0% in the third quarter. MetLife Investment Management LLC now owns 6,656 shares of the company’s stock worth $102,000 after purchasing an additional 3,750 shares during the last quarter. LSV Asset Management bought a new position in shares of USCB Financial in the 2nd quarter valued at about $131,000. Hsbc Holdings PLC purchased a new position in USCB Financial in the second quarter worth about $134,000. Bank of New York Mellon Corp increased its stake in USCB Financial by 2.4% during the second quarter. Bank of New York Mellon Corp now owns 29,990 shares of the company’s stock worth $385,000 after acquiring an additional 690 shares during the last quarter. Finally, Salzhauer Michael raised its position in USCB Financial by 76.4% during the second quarter. Salzhauer Michael now owns 31,000 shares of the company’s stock valued at $398,000 after purchasing an additional 13,428 shares during the period. 61.34% of the stock is owned by institutional investors.

USCB Financial Trading Up 0.4 %

USCB opened at $20.48 on Monday. 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’s 50 day moving average price is $16.73 and its 200-day moving average price is $14.70. USCB Financial Holdings, Inc. has a one year low of $10.25 and a one year high of $21.86. The stock has a market cap of $406.32 million, a price-to-earnings ratio of 19.88 and a beta of 0.40.

USCB Financial Announces Dividend

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

Analysts Set New Price Targets

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

Insider Transactions at USCB Financial

In related news, Director Ramon A. Rodriguez purchased 6,000 shares of USCB Financial stock in a transaction that occurred on Monday, September 16th. The shares were bought at an average price of $14.61 per share, with a total value of $87,660.00. Following the purchase, the director now directly owns 12,000 shares of the company’s stock, valued at approximately $175,320. This represents a 100.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 48.50% of the company’s stock.

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.