Raymond James Financial Upgrades QCR (NASDAQ:QCRH) to “Moderate Buy”

QCR (NASDAQ:QCRH) was upgraded by Raymond James Financial to a “moderate buy” rating in a report released on Wednesday, Zacks reports.

A number of other analysts have also commented on the company. Stephens began coverage on QCR in a report on Friday, September 18th. They issued an “equal weight” rating and a $107.00 target price for the company. DA Davidson increased their price objective on QCR from $97.00 to $105.00 and gave the company a “neutral” rating in a research report on Monday, July 27th. Weiss Ratings reiterated a “buy (b)” rating on shares of QCR in a report on Monday, July 6th. Piper Sandler reissued an “overweight” rating and issued a $123.00 target price (up from $107.00) on shares of QCR in a research report on Monday, July 27th. Finally, Keefe, Bruyette & Woods boosted their target price on QCR from $105.00 to $108.00 and gave the stock an “outperform” rating in a research report on Friday, July 24th. Four investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $110.60.

QCR Price Performance

QCRH stock opened at $100.95 on Wednesday. QCR has a 1 year low of $66.65 and a 1 year high of $108.11. The company has a market cap of $1.65 billion, a P/E ratio of 11.93 and a beta of 0.74. The firm has a 50-day moving average of $101.95 and a 200 day moving average of $95.31. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.98 and a quick ratio of 0.98.

QCR (NASDAQ:QCRH) last announced its earnings results on Wednesday, July 22nd. The bank reported $2.19 EPS for the quarter, beating analysts’ consensus estimates of $1.91 by $0.28. QCR had a net margin of 22.86% and a return on equity of 12.87%. The firm had revenue of $97.34 million for the quarter, compared to analysts’ expectations of $104.10 million. On average, sell-side analysts forecast that QCR will post 8.43 EPS for the current year.

Hedge Funds Weigh In On QCR

Several institutional investors have recently made changes to their positions in the business. Sequoia Financial Advisors LLC bought a new position in QCR in the second quarter worth approximately $337,000. Nykredit A S bought a new stake in shares of QCR during the 2nd quarter valued at $27,000. Wellington Management Group LLP grew its position in shares of QCR by 18.4% during the 2nd quarter. Wellington Management Group LLP now owns 284,295 shares of the bank’s stock valued at $27,676,000 after acquiring an additional 44,106 shares during the period. Pinnacle Holdings LLC purchased a new stake in shares of QCR in the 2nd quarter worth $162,000. Finally, Globeflex Capital L P purchased a new stake in shares of QCR in the 2nd quarter worth $1,767,000. Institutional investors own 70.01% of the company’s stock.

About QCR

QCR Holdings, Inc is a bank holding company headquartered in Moline, Illinois. Through its community banking subsidiaries, the company provides financial services to businesses, professionals, individuals and institutions in selected Midwestern markets.

Its banking operations offer commercial and consumer lending, deposit accounts, treasury and cash-management services, mortgage lending, online and mobile banking, and other traditional banking products. The company also provides wealth management, trust, investment and related financial services through affiliated businesses.

QCR Holdings operates through banks including Quad City Bank & Trust, Cedar Rapids Bank & Trust, Community State Bank and Springfield First Community Bank.