$36.88 Million in Sales Expected for QCR Holdings, Inc. (QCRH) This Quarter
Equities analysts forecast that QCR Holdings, Inc. (NASDAQ:QCRH) will announce $36.88 million in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for QCR Holdings’ earnings, with the lowest sales estimate coming in at $36.00 million and the highest estimate coming in at $38.27 million. QCR Holdings posted sales of $34.05 million during the same quarter last year, which would indicate a positive year over year growth rate of 8.3%. The business is expected to report its next earnings report after the market closes on Thursday, November 2nd.
On average, analysts expect that QCR Holdings will report full year sales of $36.88 million for the current financial year, with estimates ranging from $145.30 million to $152.73 million. For the next year, analysts forecast that the business will post sales of $166.92 million per share, with estimates ranging from $163.90 million to $170.65 million. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover QCR Holdings.
Several research firms have recently commented on QCRH. ValuEngine downgraded QCR Holdings from a “buy” rating to a “hold” rating in a research note on Thursday, July 6th. BidaskClub downgraded QCR Holdings from a “buy” rating to a “hold” rating in a research note on Monday, July 24th. Keefe, Bruyette & Woods set a $52.00 price objective on QCR Holdings and gave the company a “buy” rating in a research note on Saturday, July 22nd. Finally, Piper Jaffray Companies set a $55.00 price objective on QCR Holdings and gave the company a “buy” rating in a research note on Friday, October 6th. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $53.33.
Shares of QCR Holdings (QCRH) opened at 48.65 on Friday. The company’s 50 day moving average is $45.86 and its 200-day moving average is $45.57. The firm has a market capitalization of $641.26 million, a price-to-earnings ratio of 20.01 and a beta of 0.61. QCR Holdings has a one year low of $31.20 and a one year high of $50.00.
The company also recently announced a quarterly dividend, which was paid on Wednesday, October 4th. Stockholders of record on Friday, September 15th were given a dividend of $0.05 per share. The ex-dividend date of this dividend was Thursday, September 14th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.41%. QCR Holdings’s dividend payout ratio is currently 8.23%.
In related news, CFO Todd A. Gipple sold 5,920 shares of the stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $43.00, for a total transaction of $254,560.00. Following the sale, the chief financial officer now owns 49,162 shares in the company, valued at approximately $2,113,966. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Cathie Whiteside sold 5,000 shares of the stock in a transaction on Monday, August 7th. The shares were sold at an average price of $46.23, for a total value of $231,150.00. Following the sale, the executive vice president now owns 17,255 shares in the company, valued at approximately $797,698.65. The disclosure for this sale can be found here. Insiders have sold a total of 14,450 shares of company stock valued at $646,051 over the last quarter. Corporate insiders own 8.80% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the business. Citigroup Inc. increased its stake in QCR Holdings by 142.1% in the second quarter. Citigroup Inc. now owns 3,208 shares of the bank’s stock worth $152,000 after purchasing an additional 1,883 shares during the period. Citadel Advisors LLC purchased a new stake in QCR Holdings in the second quarter worth $200,000. Busey Trust CO purchased a new stake in QCR Holdings in the second quarter worth $213,000. Voya Investment Management LLC purchased a new stake in QCR Holdings in the second quarter worth $224,000. Finally, Principal Financial Group Inc. purchased a new stake in QCR Holdings in the second quarter worth $244,000. Institutional investors and hedge funds own 62.17% of the company’s stock.
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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