QCR (NASDAQ:QCRH) Posts Quarterly Earnings Results, Beats Expectations By $0.02 EPS

QCR (NASDAQ:QCRH – Get Rating) released its earnings results on Tuesday. The bank reported $1.54 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.52 by $0.02, MarketWatch Earnings reports. QCR had a net margin of 32.90% and a return on equity of 15.60%. During the same period in the previous year, the firm posted $1.16 earnings per share.

NASDAQ:QCRH traded down $0.58 during mid-day trading on Wednesday, hitting $54.18. 3,411 shares of the company’s stock traded hands, compared to its average volume of 78,575. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.96 and a current ratio of 0.96. The firm’s 50 day simple moving average is $56.21 and its 200 day simple moving average is $56.37. QCR has a 1 year low of $44.75 and a 1 year high of $62.34. The company has a market cap of $848.35 million, a PE ratio of 8.74 and a beta of 1.07.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 6th. Investors of record on Friday, March 18th were paid a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.44%. The ex-dividend date of this dividend was Thursday, March 17th. QCR’s dividend payout ratio (DPR) is 3.86%.

Large investors have recently bought and sold shares of the business. Royal Bank of Canada increased its holdings in QCR by 30.6% during the 3rd quarter. Royal Bank of Canada now owns 2,584 shares of the bank’s stock valued at $133,000 after acquiring an additional 605 shares in the last quarter. Cetera Investment Advisers purchased a new position in QCR during the 4th quarter valued at about $210,000. BNP Paribas Arbitrage SA increased its holdings in QCR by 105.0% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 4,301 shares of the bank’s stock valued at $221,000 after acquiring an additional 2,203 shares in the last quarter. Cubist Systematic Strategies LLC increased its holdings in QCR by 19.8% during the 3rd quarter. Cubist Systematic Strategies LLC now owns 5,429 shares of the bank’s stock valued at $279,000 after acquiring an additional 899 shares in the last quarter. Finally, Canada Pension Plan Investment Board purchased a new position in QCR during the 4th quarter valued at about $280,000. Hedge funds and other institutional investors own 70.60% of the company’s stock.

QCRH has been the subject of several recent analyst reports. StockNews.com upgraded shares of QCR from a “hold” rating to a “buy” rating in a research note on Thursday, April 21st. Piper Sandler raised their price objective on shares of QCR from $72.00 to $77.00 and gave the company an “overweight” rating in a research note on Tuesday, April 5th. Finally, Zacks Investment Research upgraded shares of QCR from a “hold” rating to a “buy” rating and set a $64.00 price objective for the company in a research note on Wednesday, March 30th.

QCR Company Profile (Get Rating)

QCR Holdings, Inc, a multi-bank holding company, provides commercial and consumer banking, and trust and asset management services. Its deposit products include noninterest-bearing demand, interest-bearing demand, time, and brokered deposits. The company also provides various commercial and retail lending/leasing, and investment services to corporations, partnerships, individuals, and government agencies.

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