QCR (NASDAQ:QCRH) Reaches New 1-Year High – What’s Next?

QCR Holdings, Inc. (NASDAQ:QCRH) shares hit a new 52-week high during trading on Tuesday . The stock traded as high as $92.87 and last traded at $92.35, with a volume of 90074 shares changing hands. The stock had previously closed at $90.26.

Analysts Set New Price Targets

QCRH has been the topic of several recent analyst reports. Piper Sandler reaffirmed an “overweight” rating and set a $108.00 target price (up from $105.00) on shares of QCR in a research report on Friday. Zacks Research lowered QCR from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 29th. Keefe, Bruyette & Woods upped their price objective on shares of QCR from $92.00 to $102.00 and gave the company an “outperform” rating in a report on Thursday, January 29th. Raymond James Financial reiterated an “outperform” rating and issued a $103.00 target price on shares of QCR in a research note on Friday. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of QCR in a research report on Monday, December 29th. Three research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $102.25.

QCR Trading Up 2.3%

The stock has a 50-day moving average of $85.58 and a 200 day moving average of $78.98. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.65. The stock has a market cap of $1.56 billion, a PE ratio of 12.30 and a beta of 0.82.

QCR (NASDAQ:QCRH) last announced its quarterly earnings data on Tuesday, January 27th. The bank reported $2.21 EPS for the quarter, beating the consensus estimate of $1.96 by $0.25. The business had revenue of $107.02 million during the quarter, compared to analysts’ expectations of $106.87 million. QCR had a net margin of 21.07% and a return on equity of 12.30%. As a group, sell-side analysts anticipate that QCR Holdings, Inc. will post 6.82 earnings per share for the current year.

QCR Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 7th. Shareholders of record on Tuesday, December 23rd were issued a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend was Tuesday, December 23rd. QCR’s dividend payout ratio is presently 3.20%.

Insiders Place Their Bets

In other QCR news, CFO Todd A. Gipple sold 8,590 shares of QCR stock in a transaction dated Friday, January 30th. The stock was sold at an average price of $89.92, for a total transaction of $772,412.80. Following the completion of the transaction, the chief financial officer owned 44,902 shares in the company, valued at approximately $4,037,587.84. This trade represents a 16.06% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 3.70% of the company’s stock.

Institutional Trading of QCR

Several hedge funds and other institutional investors have recently bought and sold shares of QCRH. Farther Finance Advisors LLC lifted its holdings in QCR by 34.6% in the fourth quarter. Farther Finance Advisors LLC now owns 576 shares of the bank’s stock valued at $48,000 after acquiring an additional 148 shares during the period. Creative Planning increased its holdings in shares of QCR by 1.1% during 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 in the last quarter. Legal & General Group Plc increased its holdings in shares of QCR by 1.0% during the 2nd 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 in the last quarter. State of New Jersey Common Pension Fund D lifted its stake in shares of QCR by 0.7% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 28,395 shares of the bank’s stock valued at $2,365,000 after purchasing an additional 185 shares during the period. Finally, Swiss National Bank boosted its holdings in QCR by 1.2% during the third quarter. Swiss National Bank now owns 32,739 shares of the bank’s stock worth $2,476,000 after buying an additional 400 shares in the last quarter. 70.01% of the stock is owned by institutional investors and hedge funds.

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.