QCR (NASDAQ:QCRH) Stock Price Expected to Rise, DA Davidson Analyst Says

QCR (NASDAQ:QCRH) had its price target upped by analysts at DA Davidson from $92.00 to $96.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the bank’s stock. DA Davidson’s target price indicates a potential upside of 6.36% from the stock’s current price.

A number of other analysts also recently issued reports on the company. Piper Sandler raised their target price on QCR from $92.50 to $97.00 and gave the stock an “overweight” rating in a research report on Monday, October 27th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of QCR in a research note on Monday, December 29th. Zacks Research cut QCR from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 29th. Keefe, Bruyette & Woods increased their price target on shares of QCR from $92.00 to $102.00 and gave the stock an “outperform” rating in a report on Thursday. Finally, Raymond James Financial reiterated an “outperform” rating and set a $88.00 price objective (up from $85.00) on shares of QCR in a research report on Monday, October 27th. Three research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $102.25.

QCR Price Performance

QCR stock opened at $90.26 on Thursday. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.65. The stock has a market cap of $1.52 billion, a P/E ratio of 12.02 and a beta of 0.82. The company’s 50 day moving average price is $85.30 and its two-hundred day moving average price is $78.77. QCR has a 52 week low of $60.83 and a 52 week high of $92.00.

QCR (NASDAQ:QCRH) last posted its quarterly earnings data on Tuesday, January 27th. The bank reported $2.21 earnings per share for the quarter, topping the consensus estimate of $1.96 by $0.25. The business had revenue of $107.02 million for the quarter, compared to analysts’ expectations of $106.87 million. QCR had a return on equity of 12.30% and a net margin of 21.07%. On average, equities analysts predict that QCR will post 6.82 earnings per share for the current year.

Institutional Investors Weigh In On QCR

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Kennedy Capital Management LLC grew its position in shares of QCR by 108.2% in the 3rd quarter. Kennedy Capital Management LLC now owns 694,551 shares of the bank’s stock worth $52,536,000 after buying an additional 360,884 shares during the period. Geode Capital Management LLC lifted its stake in shares of QCR by 2.6% in the second quarter. Geode Capital Management LLC now owns 435,133 shares of the bank’s stock worth $29,549,000 after buying an additional 11,033 shares in the last quarter. Victory Capital Management Inc. boosted its stake in QCR by 715.4% during the 3rd quarter. Victory Capital Management Inc. now owns 400,229 shares of the bank’s stock valued at $30,273,000 after purchasing an additional 351,145 shares during the last quarter. Schroder Investment Management Group boosted its position in shares of QCR by 86.2% during the third quarter. Schroder Investment Management Group now owns 350,963 shares of the bank’s stock valued at $26,663,000 after buying an additional 162,482 shares during the last quarter. Finally, Endeavour Capital Advisors Inc. grew its stake in shares of QCR by 20.5% in the third quarter. Endeavour Capital Advisors Inc. now owns 266,465 shares of the bank’s stock worth $20,155,000 after acquiring an additional 45,389 shares during the period. 70.01% of the stock is owned by hedge funds and other institutional investors.

QCR Company Profile

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.