DA Davidson cut shares of QCR (NASDAQ:QCRH – Free Report) from a buy rating to a neutral rating in a research note released on Thursday morning, Marketbeat.com reports. DA Davidson currently has $83.00 price objective on the bank’s stock.
Several other analysts also recently commented on QCRH. Weiss Ratings restated a “buy (b-)” rating on shares of QCR in a research report on Wednesday. Wall Street Zen upgraded shares of QCR from a “sell” rating to a “hold” rating in a research report on Saturday, July 26th. Keefe, Bruyette & Woods restated an “outperform” rating and set a $92.00 price objective (up from $90.00) on shares of QCR in a research report on Friday, July 25th. Finally, Piper Sandler raised their price objective on shares of QCR from $88.00 to $92.50 and gave the company an “overweight” rating in a research report on Monday, July 28th. Four research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, QCR currently has an average rating of “Moderate Buy” and an average price target of $86.38.
QCR Stock Down 3.2%
QCR (NASDAQ:QCRH – Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The bank reported $1.73 earnings per share for the quarter, topping the consensus estimate of $1.63 by $0.10. QCR had a net margin of 19.43% and a return on equity of 11.71%. The business had revenue of $84.20 million for the quarter, compared to the consensus estimate of $95.11 million. As a group, equities analysts forecast that QCR will post 6.82 EPS for the current year.
QCR Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Friday, October 3rd. Shareholders of record on Thursday, September 18th were issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date was Thursday, September 18th. QCR’s payout ratio is currently 3.61%.
Insider Transactions at QCR
In other QCR news, CEO Laura L. Ekizian sold 333 shares of QCR stock in a transaction on Friday, September 5th. The shares were sold at an average price of $80.00, for a total value of $26,640.00. Following the sale, the chief executive officer directly owned 5,632 shares in the company, valued at approximately $450,560. The trade was a 5.58% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 3.70% of the company’s stock.
Institutional Trading of QCR
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Creative Planning increased its holdings in QCR by 1.1% in the 2nd quarter. Creative Planning now owns 13,917 shares of the bank’s stock valued at $945,000 after acquiring an additional 157 shares during the last quarter. Hohimer Wealth Management LLC increased its holdings in shares of QCR by 4.9% in the 1st quarter. Hohimer Wealth Management LLC now owns 3,489 shares of the bank’s stock worth $249,000 after buying an additional 164 shares during the last quarter. Legal & General Group Plc increased its holdings in shares of QCR by 1.0% in the 2nd quarter. Legal & General Group Plc now owns 17,366 shares of the bank’s stock worth $1,179,000 after buying an additional 165 shares during the last quarter. Principal Financial Group Inc. increased its holdings in shares of QCR by 3.6% in the 1st quarter. Principal Financial Group Inc. now owns 9,269 shares of the bank’s stock worth $661,000 after buying an additional 323 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of QCR by 4.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,729 shares of the bank’s stock worth $694,000 after buying an additional 403 shares during the last quarter. 70.01% of the stock is currently owned by institutional investors.
About QCR
QCR Holdings, Inc, a multi-bank holding company, provides commercial and consumer banking, and trust and asset management services. The company’s deposit products include noninterest-bearing demand, interest-bearing demand, time, and brokered deposits. It also provides various commercial and retail lending/leasing, and investment services to corporations, partnerships, individuals, and government agencies.
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