Analysts Anticipate QCR Holdings, Inc. (QCRH) Will Post Quarterly Sales of $39.74 Million
Equities research analysts expect QCR Holdings, Inc. (NASDAQ:QCRH) to post sales of $39.74 million for the current quarter, according to Zacks. Three analysts have issued estimates for QCR’s earnings, with estimates ranging from $38.88 million to $40.43 million. QCR reported sales of $36.31 million in the same quarter last year, which indicates a positive year over year growth rate of 9.4%. The business is expected to announce its next earnings results on Wednesday, February 7th.
On average, analysts expect that QCR will report full year sales of $39.74 million for the current year, with estimates ranging from $143.92 million to $151.95 million. For the next year, analysts forecast that the business will post sales of $167.42 million per share, with estimates ranging from $163.10 million to $172.21 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for QCR.
A number of analysts recently issued reports on the stock. Maxim Group decreased their target price on shares of QCR from $53.00 to $51.00 and set a “buy” rating on the stock in a research report on Friday, November 3rd. ValuEngine upgraded shares of QCR from a “hold” rating to a “buy” rating in a research report on Friday. Piper Jaffray Companies set a $55.00 target price on shares of QCR and gave the stock a “buy” rating in a research report on Friday, October 6th. Finally, BidaskClub lowered shares of QCR from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 12th. One investment analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. QCR currently has a consensus rating of “Buy” and an average target price of $52.67.
The business also recently declared a quarterly dividend, which will be paid on Thursday, January 4th. Shareholders of record on Friday, December 15th will be issued a $0.05 dividend. The ex-dividend date is Thursday, December 14th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.44%. QCR’s dividend payout ratio (DPR) is presently 7.84%.
In other QCR news, CFO Todd A. Gipple sold 5,920 shares of QCR stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $43.00, for a total value of $254,560.00. Following the transaction, the chief financial officer now owns 49,162 shares in the company, valued at approximately $2,113,966. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 8.80% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently made changes to their positions in QCRH. Kennedy Capital Management Inc. acquired a new position in shares of QCR in the 2nd quarter valued at $5,760,000. Wedge Capital Management L L P NC acquired a new position in shares of QCR in the 2nd quarter valued at $4,119,000. AJO LP boosted its holdings in shares of QCR by 507.5% in the 2nd quarter. AJO LP now owns 88,437 shares of the bank’s stock valued at $4,192,000 after purchasing an additional 73,879 shares during the last quarter. Ameriprise Financial Inc. acquired a new position in shares of QCR in the 2nd quarter valued at $3,468,000. Finally, Thrivent Financial For Lutherans acquired a new position in shares of QCR in the 2nd quarter valued at $1,934,000. Institutional investors own 59.71% of the company’s stock.
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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), Rockford Bank and Trust Company (RB&T), and Guaranty Bank and Trust Company, which provide full-service commercial and consumer banking and trust and asset management services.
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