In recent transactions reported to the Securities and Exchange Commission, Robert B. Anderson, Executive Vice President and Chief Financial Officer of USCB Financial Holdings, Inc. (NASDAQ:USCB), purchased shares of the company's Class A Voting Common Stock, totaling approximately $88,075.
The transactions, which occurred on May 23 and May 24, included the acquisition of 7,000 shares at an average price of $12.12 and 271 shares at an average price of $11.94. These purchases were executed at prices ranging from $11.69 to $12.20 per share, according to the weighted average disclosed in the footnotes of the filing.
Following these purchases, Anderson's direct ownership in the company has increased to 87,204 shares of Class A Voting Common Stock. Additionally, the report included details on restricted stock, with 4,127 shares vesting annually starting from January 22, 2024, and another 5,367 shares vesting from March 8, 2023.
The executive's holdings also consist of options to purchase Class A Voting Common Stock, with 30,000 options exercisable at $8.75 each, vested since September 10, 2021, and another set of 60,000 options at $12.05 each, with vesting starting from September 27, 2022.
The SEC filing reflects the executive's confidence in USCB Financial Holdings, as the acquisition of shares expands his stake in the company. Investors often monitor such insider transactions for insights into executive sentiment and company prospects.
InvestingPro Insights
Recent insider transactions at USCB Financial Holdings, Inc. (NASDAQ:USCB) have caught the eye of the market, with Executive Vice President and CFO Robert B. Anderson increasing his stake in the company. To provide further context to these transactions, let's look at some key financial metrics and insights from InvestingPro that could be influencing executive decisions and may be of interest to investors.
As of the last twelve months leading up to Q1 2024, USCB Financial Holdings reported a market capitalization of $229.77 million, with a price-to-earnings (P/E) ratio of 15.47, which adjusted slightly to 15.06. The company's price-to-book ratio stood at 1.19, indicating that the stock may be reasonably valued in relation to its net asset value. Moreover, USCB has shown a strong return over the last month, with a 12.87% increase in its stock price, which could be a sign of growing investor confidence.
On the performance front, USCB's revenue for the same period was $62.95 million, although it experienced a decline in revenue growth by 7.34%. Despite this, analysts have revised their earnings upwards for the upcoming period, suggesting an optimistic outlook for the company's profitability. Moreover, USCB has been profitable over the last twelve months, which is a positive sign for potential investors.
InvestingPro Tips highlight that while USCB suffers from weak gross profit margins, the company is predicted to be profitable this year. This aligns with Anderson's recent share purchases, as insider buying can often be a bullish signal. Investors seeking additional insights and tips can find more on InvestingPro, including an exclusive offer: use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription. With 4 additional InvestingPro Tips available, investors can gain a deeper understanding of USCB's financial health and future prospects.
Overall, these data points and insights may help investors better interpret the executive's recent share purchases and evaluate USCB's investment potential.
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