QCR (NASDAQ:QCRH) Announces Quarterly Earnings Results

QCR (NASDAQ:QCRH) posted its quarterly earnings data on Wednesday. The bank reported $2.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.91 by $0.28, FiscalAI reports. QCR had a return on equity of 12.54% and a net margin of 21.98%.The company had revenue of $97.34 million for the quarter, compared to the consensus estimate of $104.10 million.

QCR Stock Down 1.2%

QCRH stock opened at $96.29 on Thursday. The firm has a market cap of $1.59 billion, a price-to-earnings ratio of 12.07 and a beta of 0.75. QCR has a 1-year low of $66.65 and a 1-year high of $100.30. The firm has a fifty day moving average price of $94.49 and a two-hundred day moving average price of $90.33. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.96 and a quick ratio of 0.89.

QCR Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 3rd. Shareholders of record on Thursday, June 18th were paid a dividend of $0.10 per share. The ex-dividend date was Thursday, June 18th. This represents a $0.40 annualized dividend and a yield of 0.4%. QCR’s payout ratio is presently 5.01%.

Insider Transactions at QCR

In other news, insider James D. Klein sold 310 shares of QCR stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $91.00, for a total value of $28,210.00. Following the completion of the transaction, the insider directly owned 428 shares of the company’s stock, valued at approximately $38,948. The trade was a 42.01% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Laura L. Ekizian sold 750 shares of QCR stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $94.96, for a total transaction of $71,220.00. Following the completion of the transaction, the chief executive officer directly owned 6,093 shares of the company’s stock, valued at $578,591.28. This trade represents a 10.96% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 3.20% of the company’s stock.

Hedge Funds Weigh In On QCR

Several institutional investors have recently made changes to their positions in QCRH. Amundi acquired a new position in shares of QCR during the fourth quarter valued at $350,000. DRW Securities LLC bought a new position in shares of QCR during the fourth quarter worth about $229,000. Brevan Howard Capital Management LP acquired a new stake in shares of QCR in the 3rd quarter worth about $418,000. BNP Paribas Financial Markets increased its holdings in shares of QCR by 119.5% in the 3rd quarter. BNP Paribas Financial Markets now owns 4,562 shares of the bank’s stock worth $345,000 after acquiring an additional 2,484 shares during the period. Finally, Inceptionr LLC bought a new stake in QCR in the 3rd quarter valued at about $242,000. 70.01% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

QCRH has been the subject of a number of recent analyst reports. Weiss Ratings reissued a “buy (b)” rating on shares of QCR in a research report on Monday, July 6th. Raymond James Financial reiterated an “outperform” rating and set a $99.00 price objective on shares of QCR in a research note on Monday, April 27th. Finally, Piper Sandler decreased their price objective on shares of QCR from $108.00 to $107.00 and set an “overweight” rating for the company in a report on Monday, April 27th. Four research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $101.00.

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.