USCB Financial Holdings, Inc. (NASDAQ:USCB), a Florida-based banking institution with a market capitalization of $353 million, today announced an amendment to the employment agreement of its Executive Vice President and Chief Financial Officer, Robert Anderson. The revision, effective today, modifies the severance payment conditions stipulated in the original contract dated January 29, 2023. The announcement comes as the company's stock has shown remarkable strength, posting a 49% gain over the past six months.
USCB Financial Holdings, operating under the name U.S. Century Bank, is classified under the State Commercial Banks industry. The bank is headquartered in Doral, Florida, and has been serving its community with a range of financial services. According to InvestingPro data, the company maintains a P/E ratio of 19.4 and has received positive attention from analysts, with four analysts recently revising their earnings expectations upward.
The company's common stock is listed on The Nasdaq Stock Market under the ticker symbol USCB, currently trading at $17.51. As an emerging growth company, USCB Financial Holdings has the option to delay adopting new or revised accounting standards until such standards apply to private companies. With analyst price targets ranging from $16 to $24, InvestingPro subscribers can access additional insights and 6 more exclusive ProTips about USCB's growth prospects and financial health.
In other recent news, USCB Financial Holdings has seen a series of revisions from notable analyst firms, Raymond (NS:RYMD) James and Piper Sandler, following their impressive third-quarter earnings. Raymond James has adjusted its rating for USCB from Strong Buy to Outperform, simultaneously lifting the price target to $21.00. The firm cites the stock's valuation, which aligns with its growth and profitability projections, as the reason for the change. Additionally, Raymond James highlighted USCB's strong presence in South Florida and anticipates continued low double-digit loan growth.
On the other hand, Piper Sandler upgraded USCB from Neutral to Overweight, increasing the price target to $20.00. This decision follows USCB's robust third-quarter performance, surpassing expectations. Piper Sandler has revised the earnings estimates for 2024, 2025, and introduced a 2026 estimate, with projections of $1.27, $1.70, and $2.00 respectively. The firm attributes this upgrade to several factors, including anticipated higher net interest margin, well-managed expenses, and forecasted low-double digit loan growth.
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