QCR (NASDAQ:QCRH) Hits New 12-Month High Following Analyst Upgrade

QCR Holdings, Inc. (NASDAQ:QCRH)’s share price reached a new 52-week high on Friday after Keefe, Bruyette & Woods raised their price target on the stock from $105.00 to $108.00. Keefe, Bruyette & Woods currently has an outperform rating on the stock. QCR traded as high as $100.35 and last traded at $99.9970, with a volume of 17865 shares traded. The stock had previously closed at $97.43.

Other equities research analysts have also issued research reports about the stock. Weiss Ratings reissued a “buy (b)” rating on shares of QCR in a report on Monday, July 6th. Raymond James Financial reaffirmed an “outperform” rating and set a $99.00 price objective on shares of QCR in a research note on Monday, April 27th. Finally, Piper Sandler cut their target price on QCR from $108.00 to $107.00 and set an “overweight” rating on the stock in a research note on Monday, April 27th. Four investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $102.50.

Insiders Place Their Bets

In related news, CEO Laura L. Ekizian sold 750 shares of the firm’s stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $94.96, for a total value of $71,220.00. Following the completion of the sale, the chief executive officer owned 6,093 shares of the company’s stock, valued at $578,591.28. This trade represents a 10.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider James D. Klein sold 310 shares of QCR stock in a transaction on Thursday, April 30th. The shares were sold at an average price of $91.00, for a total transaction of $28,210.00. Following the completion of the sale, the insider owned 428 shares in the company, valued at approximately $38,948. This trade represents a 42.01% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 3.20% of the company’s stock.

Hedge Funds Weigh In On QCR

Several hedge funds and other institutional investors have recently modified their holdings of QCRH. Kestrel Investment Management Corp bought a new position in QCR in the fourth quarter worth about $4,636,000. Daytona Street Capital LLC bought a new stake in QCR during the 4th quarter valued at approximately $897,000. Hsbc Holdings PLC bought a new stake in QCR during the 4th quarter valued at approximately $1,245,000. Jackson Creek Investment Advisors LLC boosted its position in QCR by 40.9% during the 4th quarter. Jackson Creek Investment Advisors LLC now owns 22,864 shares of the bank’s stock valued at $1,905,000 after acquiring an additional 6,633 shares in the last quarter. Finally, Kennedy Capital Management LLC grew its holdings in shares of QCR by 9.7% during the 4th quarter. Kennedy Capital Management LLC now owns 762,068 shares of the bank’s stock worth $63,480,000 after acquiring an additional 67,517 shares during the period. Hedge funds and other institutional investors own 70.01% of the company’s stock.

QCR Price Performance

The stock has a market cap of $1.65 billion, a PE ratio of 11.84 and a beta of 0.75. The business has a fifty day simple moving average of $94.91 and a two-hundred day simple moving average of $90.51. The company has a current ratio of 0.96, a quick ratio of 0.89 and a debt-to-equity ratio of 0.37.

QCR (NASDAQ:QCRH) last released its earnings results on Wednesday, July 22nd. The bank reported $2.19 EPS for the quarter, beating analysts’ consensus estimates of $1.91 by $0.28. QCR had a return on equity of 13.00% and a net margin of 22.86%.The company had revenue of $97.34 million during the quarter, compared to analysts’ expectations of $104.10 million. Research analysts forecast that QCR Holdings, Inc. will post 8.13 earnings per share for the current year.

QCR Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 3rd. Shareholders of record on Thursday, June 18th were issued a $0.10 dividend. The ex-dividend date was Thursday, June 18th. This represents a $0.40 dividend on an annualized basis and a yield of 0.4%. QCR’s dividend payout ratio is 4.73%.

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.