QCR (NASDAQ:QCRH) Sets New 1-Year High Following Analyst Upgrade

QCR Holdings, Inc. (NASDAQ:QCRH)’s share price hit 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 trading hands. The stock had previously closed at $97.43.

Several other brokerages have also recently weighed in on QCRH. Piper Sandler decreased their price objective on shares of QCR from $108.00 to $107.00 and set an “overweight” rating on the stock in a research note on Monday, April 27th. Weiss Ratings reiterated a “buy (b)” rating on shares of QCR in a research note on Monday, July 6th. Finally, Raymond James Financial reissued an “outperform” rating and issued a $99.00 target price on shares of QCR in a report on Monday, April 27th. Four equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $102.50.

Insiders Place Their Bets

In related news, insider James D. Klein sold 310 shares of the company’s stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $91.00, for a total transaction of $28,210.00. Following the transaction, the insider owned 428 shares in the company, valued at $38,948. This represents a 42.01% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Laura L. Ekizian sold 750 shares of the stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $94.96, for a total transaction of $71,220.00. Following the sale, the chief executive officer directly owned 6,093 shares in the company, valued at approximately $578,591.28. This represents a 10.96% 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

Large investors have recently modified their holdings of the stock. Wedge Capital Management L L P NC grew its stake in shares of QCR by 12.4% during the second quarter. Wedge Capital Management L L P NC now owns 40,964 shares of the bank’s stock valued at $3,988,000 after purchasing an additional 4,520 shares during the last quarter. Bank of America Corp DE raised its position in QCR by 101.5% in the 1st quarter. Bank of America Corp DE now owns 42,709 shares of the bank’s stock worth $3,649,000 after purchasing an additional 21,517 shares during the last quarter. Rhino Investment Partners Inc lifted its holdings in QCR by 122.1% during the 1st quarter. Rhino Investment Partners Inc now owns 133,324 shares of the bank’s stock worth $11,393,000 after buying an additional 73,308 shares in the last quarter. Quantinno Capital Management LP lifted its holdings in QCR by 25.4% during the 1st quarter. Quantinno Capital Management LP now owns 4,537 shares of the bank’s stock worth $388,000 after buying an additional 918 shares in the last quarter. Finally, Lazard Asset Management LLC lifted its holdings in QCR by 1.9% during the 1st quarter. Lazard Asset Management LLC now owns 18,827 shares of the bank’s stock worth $1,609,000 after buying an additional 354 shares in the last quarter. 70.01% of the stock is currently owned by institutional investors and hedge funds.

QCR Price Performance

The stock has a market capitalization of $1.65 billion, a P/E ratio of 11.84 and a beta of 0.75. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.89 and a current ratio of 0.96. The stock has a 50-day simple moving average of $94.91 and a 200 day simple moving average of $90.51.

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

QCR Dividend Announcement

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

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.