QCR (NASDAQ:QCRH) Announces Earnings Results

QCR (NASDAQ:QCRH) posted its earnings results on Tuesday. The bank reported $2.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.96 by $0.25, FiscalAI reports. The business had revenue of $107.02 million for 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%.

QCR Trading Up 1.5%

Shares of NASDAQ:QCRH opened at $89.49 on Thursday. The stock has a 50 day moving average of $84.78 and a 200 day moving average of $78.58. The company has a market cap of $1.51 billion, a PE ratio of 12.50 and a beta of 0.82. QCR has a 12-month low of $60.83 and a 12-month high of $92.00. 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 Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 7th. Investors of record on Tuesday, December 23rd were paid a dividend of $0.06 per share. The ex-dividend date was Tuesday, December 23rd. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.3%. QCR’s payout ratio is 3.35%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on QCRH shares. DA Davidson restated a “neutral” rating and set a $83.00 price objective on shares of QCR in a research report on Thursday, October 9th. Weiss Ratings reissued a “hold (c+)” rating on shares of QCR in a report on Monday, December 29th. Zacks Research lowered QCR from a “strong-buy” rating to a “hold” rating in a report on Monday, December 29th. Piper Sandler upped their price objective on QCR from $92.50 to $97.00 and gave the company an “overweight” rating in a research report on Monday, October 27th. Finally, Raymond James Financial reissued an “outperform” rating and issued a $88.00 target price (up from $85.00) on shares of QCR in a research report on Monday, October 27th. Three equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, QCR has a consensus rating of “Moderate Buy” and an average target price of $92.50.

Institutional Trading of QCR

A number of hedge funds and other institutional investors have recently modified their holdings of QCRH. CIBC Bancorp USA Inc. purchased a new position in shares of QCR during the 3rd quarter valued at $218,000. Dark Forest Capital Management LP bought a new position in shares of QCR during the 3rd quarter valued at about $645,000. PMC FIG Opportunities LLC boosted its stake in QCR by 159.7% during the third quarter. PMC FIG Opportunities LLC now owns 35,354 shares of the bank’s stock valued at $2,674,000 after buying an additional 21,739 shares during the last quarter. Mercer Global Advisors Inc. ADV boosted its position in shares of QCR by 38.1% during the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 7,837 shares of the bank’s stock valued at $593,000 after acquiring an additional 2,161 shares during the last quarter. Finally, Lido Advisors LLC purchased a new stake in QCR during the third quarter valued at $1,382,000. 70.01% of the stock is owned by hedge funds and other 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.