QCR (NASDAQ:QCRH) Hits New 1-Year High on Strong Earnings

QCR Holdings, Inc. (NASDAQ:QCRH) shares reached a new 52-week high on Wednesday following a stronger than expected earnings report. The company traded as high as $92.00 and last traded at $89.38, with a volume of 28833 shares traded. The stock had previously closed at $88.13.

The bank reported $2.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.96 by $0.25. QCR had a return on equity of 12.30% and a net margin of 21.07%.The business had revenue of $107.02 million during the quarter, compared to the consensus estimate of $106.87 million.

QCR Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 7th. Investors of record on Tuesday, December 23rd were given a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.3%. The ex-dividend date was Tuesday, December 23rd. QCR’s dividend payout ratio is presently 3.35%.

Analysts Set New Price Targets

QCRH has been the subject of a number of recent analyst reports. Keefe, Bruyette & Woods raised their price objective on QCR from $92.00 to $102.00 and gave the stock an “outperform” rating in a research report on Thursday. Piper Sandler lifted their price target on shares of QCR from $92.50 to $97.00 and gave the company an “overweight” rating in a research report on Monday, October 27th. Zacks Research lowered shares of QCR from a “strong-buy” rating to a “hold” rating in a report on Monday, December 29th. DA Davidson increased their price objective on shares of QCR from $92.00 to $96.00 and gave the stock a “neutral” rating in a research report on Thursday. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of QCR in a research note on Monday, December 29th. Three research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, QCR currently has an average rating of “Moderate Buy” and an average price target of $95.75.

Institutional Investors Weigh In On QCR

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Y Intercept Hong Kong Ltd purchased a new stake in QCR in the second quarter valued at $1,829,000. Kennedy Capital Management LLC increased its position in shares of QCR by 33.6% during the second quarter. Kennedy Capital Management LLC now owns 333,667 shares of the bank’s stock worth $22,656,000 after purchasing an additional 83,977 shares in the last quarter. State of New Jersey Common Pension Fund D lifted its holdings in shares of QCR by 8.6% in the 2nd quarter. State of New Jersey Common Pension Fund D now owns 27,616 shares of the bank’s stock valued at $1,875,000 after purchasing an additional 2,195 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of QCR by 2.6% in the 2nd quarter. Geode Capital Management LLC now owns 435,133 shares of the bank’s stock valued at $29,549,000 after purchasing an additional 11,033 shares during the last quarter. Finally, Entropy Technologies LP acquired a new stake in shares of QCR in the 2nd quarter valued at about $210,000. Institutional investors and hedge funds own 70.01% of the company’s stock.

QCR Stock Up 1.4%

The stock has a market cap of $1.53 billion, a PE ratio of 12.09 and a beta of 0.82. The business has a 50 day moving average of $85.07 and a 200-day moving average of $78.66. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.65.

About QCR

QCR Holdings, Inc, headquartered in Moline, Illinois, is a bank holding company that delivers community banking services through its wholly owned subsidiary, QCR Bank. The company focuses on serving individuals, small to medium-sized businesses and municipal clients in select Midwestern markets.

QCR Bank offers a broad array of deposit and lending products, including personal and business checking and savings accounts, commercial real estate loans, equipment financing, mortgage lending and treasury management solutions.