QCR (NASDAQ:QCRH) Price Target Raised to $108.00

QCR (NASDAQ:QCRH) had its target price lifted by Keefe, Bruyette & Woods from $105.00 to $108.00 in a research note published on Friday,Benzinga reports. Keefe, Bruyette & Woods currently has an outperform rating on the bank’s stock.

A number of other research firms have also recently weighed in on QCRH. Piper Sandler lowered their price target on QCR from $108.00 to $107.00 and set an “overweight” rating for the company in a report on Monday, April 27th. Weiss Ratings restated a “buy (b)” rating on shares of QCR in a report on Monday, July 6th. Finally, Raymond James Financial reaffirmed an “outperform” rating and issued a $99.00 target price on shares of QCR in a research 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 company’s stock. Based on data from MarketBeat.com, QCR has an average rating of “Moderate Buy” and an average price target of $102.50.

QCR Stock Performance

QCRH opened at $100.15 on Friday. 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 has a 12-month low of $66.65 and a 12-month high of $101.42. The firm has a 50 day moving average of $94.91 and a two-hundred day moving average of $90.55. The firm has a market capitalization of $1.65 billion, a PE ratio of 11.84 and a beta of 0.75.

QCR (NASDAQ:QCRH) last issued its quarterly earnings results on Wednesday, July 22nd. The bank reported $2.19 earnings per share for the quarter, beating analysts’ consensus estimates of $1.91 by $0.28. QCR had a net margin of 22.86% and a return on equity of 13.00%. The firm had revenue of $97.34 million for the quarter, compared to analyst estimates of $104.10 million. On average, analysts anticipate that QCR will post 8.13 EPS for the current year.

QCR Announces Dividend

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

Insider Buying and Selling at QCR

In other QCR news, CEO Laura L. Ekizian sold 750 shares of QCR stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $94.96, for a total transaction of $71,220.00. Following the completion of the transaction, the chief executive officer owned 6,093 shares in the company, valued at approximately $578,591.28. The trade was a 10.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 completion of the sale, the insider directly owned 428 shares in the company, valued at $38,948. This trade represents a 42.01% decrease in their position. The SEC filing for this sale provides additional information. 3.20% of the stock is currently owned by corporate insiders.

Institutional Trading of QCR

Institutional investors and hedge funds have recently made changes to their positions in the stock. Hotchkis & Wiley Capital Management LLC acquired a new stake in shares of QCR during the 3rd quarter worth about $9,825,000. Rhino Investment Partners Inc grew its holdings in shares of QCR by 122.1% during the first 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. Kennedy Capital Management LLC raised its position in shares of QCR by 9.7% in the fourth quarter. Kennedy Capital Management LLC now owns 762,068 shares of the bank’s stock valued at $63,480,000 after buying an additional 67,517 shares during the last quarter. Endeavour Capital Advisors Inc. raised its position in shares of QCR by 23.3% in the fourth quarter. Endeavour Capital Advisors Inc. now owns 328,497 shares of the bank’s stock valued at $27,364,000 after buying an additional 62,032 shares during the last quarter. Finally, Kestrel Investment Management Corp purchased a new position in shares of QCR during the fourth quarter valued at approximately $4,636,000. 70.01% of the stock is currently owned by hedge funds and other institutional investors.

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.