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

QCR Holdings, Inc. (NASDAQ:QCRH)’s stock price hit a new 52-week high on Thursday . The stock traded as high as $104.29 and last traded at $102.94, with a volume of 124274 shares traded. The stock had previously closed at $103.28.

Wall Street Analyst Weigh In

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

QCR Price Performance

The company has a 50 day moving average of $96.15 and a 200 day moving average of $91.17. The company has a current ratio of 0.96, a quick ratio of 0.89 and a debt-to-equity ratio of 0.37. The firm has a market cap of $1.70 billion, a price-to-earnings ratio of 12.17 and a beta of 0.75.

QCR (NASDAQ:QCRH) last announced its quarterly earnings results on Wednesday, July 22nd. The bank reported $2.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.91 by $0.28. QCR had a return on equity of 13.00% and a net margin of 22.86%.The company had revenue of $97.34 million during the quarter, compared to the consensus estimate of $104.10 million. Equities research analysts predict that QCR Holdings, Inc. will post 8.5 EPS for the current fiscal year.

QCR Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 3rd. Stockholders of record on Thursday, June 18th were given 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 dividend yield of 0.4%. QCR’s dividend payout ratio is currently 4.73%.

Insiders Place Their Bets

In related news, CEO Laura L. Ekizian sold 750 shares of the company’s stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $94.96, for a total value of $71,220.00. Following the completion of the transaction, the chief executive officer directly owned 6,093 shares of the company’s stock, valued at approximately $578,591.28. This represents a 10.96% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 3.20% of the company’s stock.

Hedge Funds Weigh In On QCR

Large investors have recently bought and sold shares of the company. Kennedy Capital Management LLC lifted 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 worth $63,480,000 after purchasing an additional 67,517 shares in the last quarter. Endeavour Capital Advisors Inc. grew its position in 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 purchasing an additional 62,032 shares in the last quarter. Wellington Management Group LLP grew its position in QCR by 0.5% in the third quarter. Wellington Management Group LLP now owns 243,762 shares of the bank’s stock valued at $18,438,000 after purchasing an additional 1,118 shares in the last quarter. Bridgeway Capital Management LLC increased its stake in QCR by 2.1% in the 3rd quarter. Bridgeway Capital Management LLC now owns 174,571 shares of the bank’s stock valued at $13,205,000 after buying an additional 3,568 shares during the last quarter. Finally, Qube Research & Technologies Ltd increased its stake in QCR by 28.4% in the 2nd quarter. Qube Research & Technologies Ltd now owns 155,127 shares of the bank’s stock valued at $10,533,000 after buying an additional 34,346 shares during the last quarter. Institutional investors and hedge funds 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.