Zacks Investment Research Upgrades QCR (QCRH) to “Buy”

Zacks Investment Research upgraded shares of QCR (NASDAQ:QCRH) from a hold rating to a buy rating in a research note published on Tuesday morning, Zacks.com reports. The firm currently has $39.00 price objective on the bank’s stock.

According to Zacks, “QCR Holdings, Inc. is the bank holding company of Quad City Bank and Trust Company. The Bank provides full service commercial and consumer banking, and trust and asset management services. “

Other research analysts have also issued research reports about the stock. BidaskClub upgraded shares of QCR from a strong sell rating to a sell rating in a report on Wednesday, March 27th. ValuEngine lowered shares of QCR from a sell rating to a strong sell rating in a report on Thursday, March 7th. Finally, Maxim Group restated a buy rating and issued a $43.00 price target on shares of QCR in a report on Monday, January 28th. Two analysts have rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus price target of $42.75.

Shares of QCRH stock opened at $34.92 on Tuesday. The stock has a market cap of $545.34 million, a PE ratio of 11.34, a P/E/G ratio of 0.98 and a beta of 0.72. QCR has a 1-year low of $30.15 and a 1-year high of $49.60. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.99 and a current ratio of 0.99.

QCR (NASDAQ:QCRH) last posted its quarterly earnings results on Thursday, January 24th. The bank reported $0.91 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.88 by $0.03. QCR had a net margin of 19.21% and a return on equity of 11.18%. The firm had revenue of $54.87 million for the quarter, compared to analyst estimates of $48.73 million. Analysts forecast that QCR will post 3.53 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 3rd. Investors of record on Friday, March 15th were issued a $0.06 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.24 annualized dividend and a yield of 0.69%. QCR’s payout ratio is 7.79%.

In related news, CEO John H. Anderson sold 3,069 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $34.20, for a total value of $104,959.80. Following the transaction, the chief executive officer now owns 4,285 shares in the company, valued at $146,547. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 8.80% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of QCRH. Dimensional Fund Advisors LP raised its stake in shares of QCR by 14.0% during the third quarter. Dimensional Fund Advisors LP now owns 510,487 shares of the bank’s stock valued at $20,853,000 after purchasing an additional 62,827 shares during the period. Renaissance Technologies LLC raised its stake in shares of QCR by 1.4% during the third quarter. Renaissance Technologies LLC now owns 518,100 shares of the bank’s stock valued at $21,164,000 after purchasing an additional 7,400 shares during the period. Paloma Partners Management Co purchased a new stake in shares of QCR during the third quarter valued at approximately $448,000. MetLife Investment Advisors LLC raised its stake in shares of QCR by 50.7% during the third quarter. MetLife Investment Advisors LLC now owns 8,758 shares of the bank’s stock valued at $358,000 after purchasing an additional 2,947 shares during the period. Finally, Thrivent Financial for Lutherans raised its stake in shares of QCR by 17.3% during the third quarter. Thrivent Financial for Lutherans now owns 121,723 shares of the bank’s stock valued at $4,972,000 after purchasing an additional 17,956 shares during the period. Institutional investors own 58.07% of the company’s stock.

QCR Company Profile

QCR Holdings, Inc, a multi-bank holding company, provides commercial and consumer banking, and trust and asset management services. The company operates through Commercial Banking and Wealth Management segments. Its deposit products include noninterest and interest-bearing demand, time, and brokered time deposits.

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