QCR (NASDAQ:QCRH) Hits New 1-Year High – Here’s Why

QCR Holdings, Inc. (NASDAQ:QCRH) shares hit a new 52-week high on Thursday . The company traded as high as $106.68 and last traded at $106.1610, with a volume of 7669 shares traded. The stock had previously closed at $105.76.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on QCRH. Raymond James Financial reaffirmed an “outperform” rating and issued a $99.00 target price on shares of QCR in a report on Monday, April 27th. DA Davidson lifted their price target on QCR from $97.00 to $105.00 and gave the stock a “neutral” rating in a report on Monday, July 27th. Keefe, Bruyette & Woods boosted their price target on QCR from $105.00 to $108.00 and gave the stock an “outperform” rating in a research report on Friday, July 24th. Piper Sandler restated an “overweight” rating and issued a $123.00 price objective (up from $107.00) on shares of QCR in a research note on Monday, July 27th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of QCR in a research report on Monday, July 6th. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $108.75.

QCR Trading Down 0.0%

The firm’s fifty day simple moving average is $98.80 and its 200 day simple moving average is $92.46. The stock has a market capitalization of $1.75 billion, a P/E ratio of 12.60 and a beta of 0.74. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.89 and a current ratio of 0.98.

QCR (NASDAQ:QCRH) last issued its earnings results on Wednesday, July 22nd. The bank reported $2.19 EPS for the quarter, topping the consensus estimate of $1.91 by $0.28. QCR had a return on equity of 12.87% and a net margin of 22.86%.The firm had revenue of $97.34 million during the quarter, compared to the consensus estimate of $104.10 million. As a group, equities research analysts forecast that QCR Holdings, Inc. will post 8.5 EPS for the current fiscal year.

QCR Announces Dividend

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

Insiders Place Their Bets

In related news, CEO Laura L. Ekizian sold 750 shares of the business’s stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $94.96, for a total transaction of $71,220.00. Following the transaction, the chief executive officer owned 6,093 shares in the company, valued at $578,591.28. The trade was a 10.96% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 3.20% of the company’s stock.

Institutional Investors Weigh In On QCR

A number of hedge funds have recently added to or reduced their stakes in QCRH. Pinnacle Holdings LLC bought a new stake in QCR during the second quarter worth $162,000. Globeflex Capital L P purchased a new stake in QCR in the 2nd quarter valued at $1,767,000. Bank of New York Mellon Corp bought a new position in QCR during the 2nd quarter valued at $7,300,000. Wedge Capital Management L L P NC lifted its stake in QCR by 12.4% during the 2nd quarter. Wedge Capital Management L L P NC now owns 40,964 shares of the bank’s stock valued at $3,988,000 after acquiring an additional 4,520 shares in the last quarter. Finally, Bank of America Corp DE lifted its stake in QCR by 101.5% during the 1st quarter. Bank of America Corp DE now owns 42,709 shares of the bank’s stock valued at $3,649,000 after acquiring an additional 21,517 shares in the last quarter. Institutional investors and hedge funds own 70.01% of the company’s stock.

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.