$36.88 Million in Sales Expected for QCR Holdings, Inc. (NASDAQ:QCRH) This Quarter
Wall Street analysts expect that QCR Holdings, Inc. (NASDAQ:QCRH) will report $36.88 million in sales for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for QCR Holdings’ earnings. The lowest sales estimate is $36.00 million and the highest is $38.27 million. QCR Holdings posted sales of $34.05 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 8.3%. The firm is scheduled to announce its next quarterly earnings results on Thursday, October 26th.
According to Zacks, analysts expect that QCR Holdings will report full year sales of $36.88 million for the current year, with estimates ranging from $145.30 million to $152.73 million. For the next fiscal year, analysts expect that the company will report sales of $166.92 million per share, with estimates ranging from $163.90 million to $170.65 million. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for QCR Holdings.
QCR Holdings (NASDAQ:QCRH) last released its earnings results on Thursday, July 20th. The bank reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by $0.01. QCR Holdings had a return on equity of 11.17% and a net margin of 21.11%. The company had revenue of $34.83 million for the quarter, compared to the consensus estimate of $36.49 million.
A number of equities analysts have issued reports on QCRH shares. Maxim Group reiterated a “buy” rating and set a $53.00 price target on shares of QCR Holdings in a research note on Thursday, June 15th. ValuEngine upgraded QCR Holdings from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $47.00 price target on shares of QCR Holdings in a research note on Friday, April 21st. Finally, BidaskClub downgraded QCR Holdings from a “buy” rating to a “hold” rating in a research note on Monday, July 24th. One analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. QCR Holdings has a consensus rating of “Buy” and an average price target of $43.75.
Shares of QCR Holdings (NASDAQ:QCRH) opened at 43.70 on Monday. The company has a market cap of $576.01 million, a price-to-earnings ratio of 17.98 and a beta of 0.61. QCR Holdings has a 12-month low of $28.70 and a 12-month high of $50.00. The company’s 50-day moving average price is $46.82 and its 200 day moving average price is $44.69.
In other QCR Holdings news, EVP Cathie Whiteside sold 5,000 shares of QCR Holdings stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $46.23, for a total transaction of $231,150.00. Following the transaction, the executive vice president now owns 17,255 shares of the company’s stock, valued at approximately $797,698.65. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In the last three months, insiders have sold 8,052 shares of company stock worth $370,937. Insiders own 8.80% of the company’s stock.
Several institutional investors have recently bought and sold shares of QCRH. Kennedy Capital Management Inc. purchased a new position in QCR Holdings during the second quarter valued at approximately $5,760,000. Wedge Capital Management L L P NC purchased a new position in QCR Holdings during the second quarter valued at approximately $4,119,000. AJO LP boosted its position in QCR Holdings by 507.5% in the second quarter. AJO LP now owns 88,437 shares of the bank’s stock valued at $4,192,000 after buying an additional 73,879 shares in the last quarter. Ameriprise Financial Inc. purchased a new position in QCR Holdings during the second quarter valued at approximately $3,468,000. Finally, Thrivent Financial For Lutherans purchased a new position in QCR Holdings during the second quarter valued at approximately $1,934,000. 61.66% of the stock is currently owned by hedge funds and other institutional investors.
About QCR Holdings
QCR Holdings, Inc is a multi-bank holding company. The Company serves the Quad Cities, Cedar Rapids, Waterloo/Cedar Falls, Des Moines/Ankeny and Rockford communities through its banking subsidiaries, Quad City Bank and Trust Company (QCBT), Cedar Rapids Bank and Trust Company (CRBT), Community State Bank (CSB), and Rockford Bank and Trust Company (RB&T), which provide full-service commercial and consumer banking and trust and asset management services.
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