QCR (NASDAQ:QCRH) Sets New 12-Month High – Here’s What Happened

Shares of QCR Holdings, Inc. (NASDAQ:QCRH) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $88.16 and last traded at $86.5750, with a volume of 37614 shares traded. The stock had previously closed at $87.01.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Raymond James Financial reiterated an “outperform” rating and set a $88.00 target price (up from $85.00) on shares of QCR in a research report on Monday, October 27th. Weiss Ratings reiterated a “hold (c+)” rating on shares of QCR in a research report on Monday. Zacks Research raised shares of QCR from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 27th. DA Davidson restated a “neutral” rating and issued a $83.00 target price on shares of QCR in a report on Thursday, October 9th. Finally, Piper Sandler upped their target price on shares of QCR from $92.50 to $97.00 and gave the company an “overweight” rating in a research report on Monday, October 27th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, QCR presently has a consensus rating of “Moderate Buy” and a consensus price target of $90.00.

QCR Trading Down 1.4%

The company’s 50 day moving average price is $78.38 and its two-hundred day moving average price is $75.04. The firm has a market cap of $1.44 billion, a PE ratio of 11.95 and a beta of 0.85. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.65.

QCR (NASDAQ:QCRH) last issued its quarterly earnings results on Friday, November 7th. The bank reported $2.17 EPS for the quarter. QCR had a net margin of 20.64% and a return on equity of 12.04%. The company had revenue of $101.45 million for the quarter. As a group, sell-side analysts forecast that QCR Holdings, Inc. will post 6.82 EPS for the current year.

QCR Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 7th. Stockholders of record on Tuesday, December 23rd will be issued a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.3%. The ex-dividend date is Tuesday, December 23rd. QCR’s dividend payout ratio is presently 3.35%.

Hedge Funds Weigh In On QCR

Hedge funds have recently bought and sold shares of the business. State of Alaska Department of Revenue bought a new stake in shares of QCR during the third quarter worth $51,000. Quadrant Capital Group LLC purchased a new position in QCR in the 3rd quarter worth about $72,000. Russell Investments Group Ltd. purchased a new position in QCR in the 3rd quarter worth about $104,000. CIBC Bancorp USA Inc. bought a new stake in QCR during the 3rd quarter valued at about $218,000. Finally, EntryPoint Capital LLC purchased a new stake in QCR in the 1st quarter valued at about $210,000. Institutional investors 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.