QCR (NASDAQ:QCRH) Posts Quarterly Earnings Results

QCR (NASDAQ:QCRH) released its quarterly earnings results on Friday. The bank reported $2.17 earnings per share for the quarter, FiscalAI reports. The business had revenue of $101.45 million during the quarter. QCR had a net margin of 20.64% and a return on equity of 12.22%.

QCR Stock Down 0.0%

Shares of QCR stock opened at $76.25 on Friday. The stock has a market capitalization of $1.29 billion, a price-to-earnings ratio of 10.65 and a beta of 0.87. QCR has a twelve month low of $60.83 and a twelve month high of $96.08. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.48. The business’s 50 day simple moving average is $75.47 and its 200-day simple moving average is $72.13.

QCR Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 3rd. Stockholders of record on Thursday, September 18th were given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date was Thursday, September 18th. QCR’s dividend payout ratio is presently 3.35%.

Insider Buying and Selling

In other QCR news, CEO Laura L. Ekizian sold 1,000 shares of the stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $80.00, for a total value of $80,000.00. Following the sale, the chief executive officer directly owned 5,965 shares of the company’s stock, valued at $477,200. This trade represents a 14.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 3.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On QCR

Several institutional investors have recently modified their holdings of the company. Creative Planning lifted its position in QCR by 1.1% in the 2nd quarter. Creative Planning now owns 13,917 shares of the bank’s stock valued at $945,000 after purchasing an additional 157 shares during the last quarter. Hohimer Wealth Management LLC increased its stake in shares of QCR by 4.9% in the first quarter. Hohimer Wealth Management LLC now owns 3,489 shares of the bank’s stock valued at $249,000 after purchasing an additional 164 shares during the period. Legal & General Group Plc increased its stake in shares of QCR by 1.0% in the second quarter. Legal & General Group Plc now owns 17,366 shares of the bank’s stock valued at $1,179,000 after purchasing an additional 165 shares during the period. Principal Financial Group Inc. raised its holdings in shares of QCR by 3.6% during the first quarter. Principal Financial Group Inc. now owns 9,269 shares of the bank’s stock valued at $661,000 after buying an additional 323 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of QCR by 4.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,729 shares of the bank’s stock worth $694,000 after buying an additional 403 shares during the period. Institutional investors own 70.01% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Weiss Ratings lowered shares of QCR from a “buy (b-)” rating to a “hold (c+)” rating in a report on Saturday, October 25th. Raymond James Financial reaffirmed an “outperform” rating and set a $88.00 price target (up previously from $85.00) on shares of QCR in a research report on Monday, October 27th. Wall Street Zen upgraded QCR from a “sell” rating to a “hold” rating in a research note on Saturday, July 26th. Zacks Research raised QCR from a “hold” rating to a “strong-buy” rating in a report on Monday, October 27th. Finally, DA Davidson restated a “neutral” rating and set a $83.00 price objective on shares of QCR in a research note on Thursday, October 9th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $90.00.

About QCR

QCR Holdings, Inc, a multi-bank holding company, provides commercial and consumer banking, and trust and asset management services. The company’s deposit products include noninterest-bearing demand, interest-bearing demand, time, and brokered deposits. It also provides various commercial and retail lending/leasing, and investment services to corporations, partnerships, individuals, and government agencies.