QCR (NASDAQ:QCRH) Given New $96.00 Price Target at DA Davidson

QCR (NASDAQ:QCRH) had its price target lifted by DA Davidson from $92.00 to $96.00 in a research note issued to investors on Thursday morning,Benzinga reports. They currently have a neutral rating on the bank’s stock.

QCRH has been the subject of several other research reports. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of QCR in a research note on Monday, December 29th. Raymond James Financial reiterated an “outperform” rating and issued a $88.00 price objective (up previously from $85.00) on shares of QCR in a research note on Monday, October 27th. Keefe, Bruyette & Woods raised their price objective on shares of QCR from $92.00 to $102.00 and gave the company an “outperform” rating in a research note on Thursday. Piper Sandler lifted their price objective on shares of QCR from $92.50 to $97.00 and gave the stock an “overweight” rating in a report on Monday, October 27th. Finally, Zacks Research cut QCR from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 29th. Three equities 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, QCR presently has an average rating of “Moderate Buy” and an average price target of $95.75.

QCR Stock Up 1.4%

NASDAQ:QCRH opened at $90.77 on Thursday. The company has a market cap of $1.53 billion, a PE ratio of 12.09 and a beta of 0.82. QCR has a 52-week low of $60.83 and a 52-week high of $92.00. The stock has a 50-day simple moving average of $85.07 and a 200 day simple moving average of $78.66. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.01 and a current ratio of 1.01.

QCR (NASDAQ:QCRH) last released its earnings results on Tuesday, January 27th. The bank reported $2.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.96 by $0.25. The business had revenue of $107.02 million for the quarter, compared to the consensus estimate of $106.87 million. QCR had a return on equity of 12.30% and a net margin of 21.07%. On average, sell-side analysts expect that QCR will post 6.82 EPS for the current fiscal year.

QCR Dividend Announcement

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

Institutional Trading of QCR

Institutional investors have recently made changes to their positions in the company. Kennedy Capital Management LLC lifted its stake in QCR by 108.2% during the third quarter. Kennedy Capital Management LLC now owns 694,551 shares of the bank’s stock worth $52,536,000 after purchasing an additional 360,884 shares in the last quarter. Victory Capital Management Inc. increased its holdings in QCR by 715.4% in the third quarter. Victory Capital Management Inc. now owns 400,229 shares of the bank’s stock valued at $30,273,000 after buying an additional 351,145 shares during the last quarter. Schroder Investment Management Group increased its holdings in shares of QCR by 86.2% in the 3rd quarter. Schroder Investment Management Group now owns 350,963 shares of the bank’s stock valued at $26,663,000 after acquiring an additional 162,482 shares during the last quarter. Hotchkis & Wiley Capital Management LLC purchased a new position in QCR in the third quarter valued at approximately $9,825,000. Finally, Millennium Management LLC grew its position in shares of QCR by 124.5% in the 1st quarter. Millennium Management LLC now owns 98,583 shares of the bank’s stock valued at $7,031,000 after buying an additional 54,678 shares during the last quarter. Hedge funds and other institutional investors own 70.01% of the company’s stock.

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.