QCR (NASDAQ:QCRH) Given New $102.00 Price Target at Keefe, Bruyette & Woods

QCR (NASDAQ:QCRH) had its price target increased by equities research analysts at Keefe, Bruyette & Woods from $92.00 to $102.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has an “outperform” rating on the bank’s stock. Keefe, Bruyette & Woods’ price objective would suggest a potential upside of 13.98% from the stock’s current price.

Other research analysts have also recently issued reports about the company. Raymond James Financial reissued an “outperform” rating and set a $88.00 price target (up from $85.00) on shares of QCR in a research report on Monday, October 27th. Piper Sandler upped their price objective on QCR from $92.50 to $97.00 and gave the stock an “overweight” rating in a research note on Monday, October 27th. Weiss Ratings reissued a “hold (c+)” rating on shares of QCR in a report on Monday, December 29th. Zacks Research downgraded shares of QCR from a “strong-buy” rating to a “hold” rating in a report on Monday, December 29th. Finally, DA Davidson reaffirmed a “neutral” rating and set a $83.00 price target on shares of QCR in a research report on Thursday, October 9th. Three research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $92.50.

QCR Stock Up 1.5%

QCR stock opened at $89.49 on Thursday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.65. QCR has a 1-year low of $60.83 and a 1-year high of $92.00. The company has a fifty day simple moving average of $84.78 and a 200 day simple moving average of $78.58. The company has a market cap of $1.51 billion, a P/E ratio of 12.50 and a beta of 0.82.

QCR (NASDAQ:QCRH) last posted its quarterly earnings data on Tuesday, January 27th. The bank reported $2.21 EPS for the quarter, topping analysts’ consensus estimates of $1.96 by $0.25. The company had revenue of $107.02 million during the quarter, compared to the consensus estimate of $106.87 million. QCR had a net margin of 21.07% and a return on equity of 12.30%. Research analysts anticipate that QCR will post 6.82 earnings per share for the current fiscal year.

Hedge Funds Weigh In On QCR

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Kennedy Capital Management LLC increased its holdings in shares of QCR by 108.2% in the third quarter. Kennedy Capital Management LLC now owns 694,551 shares of the bank’s stock valued at $52,536,000 after purchasing an additional 360,884 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in shares of QCR by 715.4% during the 3rd quarter. Victory Capital Management Inc. now owns 400,229 shares of the bank’s stock worth $30,273,000 after buying an additional 351,145 shares during the period. Schroder Investment Management Group grew its stake in QCR by 86.2% in the 3rd quarter. Schroder Investment Management Group now owns 350,963 shares of the bank’s stock valued at $26,663,000 after buying an additional 162,482 shares during the last quarter. Hotchkis & Wiley Capital Management LLC acquired a new position in QCR in the 3rd quarter valued at about $9,825,000. Finally, Millennium Management LLC raised its holdings in QCR by 124.5% in the 1st quarter. Millennium Management LLC now owns 98,583 shares of the bank’s stock valued at $7,031,000 after acquiring an additional 54,678 shares during the period. 70.01% of the stock is owned by institutional investors.

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.