QCR (NASDAQ:QCRH) Given New $82.00 Price Target at Raymond James

QCR (NASDAQ:QCRH) had its price objective lowered by Raymond James from $95.00 to $82.00 in a report published on Wednesday morning,Benzinga reports. Raymond James currently has an outperform rating on the bank’s stock.

QCR Price Performance

Shares of QCR stock opened at $71.90 on Wednesday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.99 and a current ratio of 1.02. QCR has a 52-week low of $54.37 and a 52-week high of $96.08. The company has a fifty day moving average of $75.17 and a 200-day moving average of $79.78. The stock has a market capitalization of $1.22 billion, a price-to-earnings ratio of 10.72 and a beta of 0.98.

QCR (NASDAQ:QCRH) last announced its quarterly earnings data on Wednesday, January 22nd. The bank reported $1.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.74 by $0.19. QCR had a return on equity of 12.68% and a net margin of 19.06%. Equities research analysts expect that QCR will post 6.82 EPS for the current year.

QCR Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Wednesday, March 19th will be given a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.33%. The ex-dividend date is Wednesday, March 19th. QCR’s payout ratio is 3.58%.

Insider Transactions at QCR

In other QCR news, insider James D. Klein sold 630 shares of the company’s stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $73.40, for a total transaction of $46,242.00. Following the completion of the transaction, the insider now owns 428 shares of the company’s stock, valued at $31,415.20. This represents a 59.55 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Nicole A. Lee acquired 1,094 shares of the business’s stock in a transaction dated Wednesday, January 29th. The stock was acquired at an average price of $78.47 per share, for a total transaction of $85,846.18. Following the completion of the transaction, the executive vice president now owns 1,881 shares in the company, valued at approximately $147,602.07. The trade was a 139.01 % increase in their position. The disclosure for this purchase can be found here. 3.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On QCR

Hedge funds have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. raised its position in QCR by 10.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 421,843 shares of the bank’s stock worth $31,229,000 after buying an additional 41,043 shares during the last quarter. Barclays PLC raised its holdings in shares of QCR by 148.9% during the third quarter. Barclays PLC now owns 30,805 shares of the bank’s stock valued at $2,281,000 after purchasing an additional 18,430 shares during the last quarter. Jane Street Group LLC lifted its position in QCR by 48.9% during the third quarter. Jane Street Group LLC now owns 27,080 shares of the bank’s stock valued at $2,005,000 after purchasing an additional 8,890 shares during the period. Assenagon Asset Management S.A. purchased a new stake in QCR in the fourth quarter worth approximately $3,755,000. Finally, Charles Schwab Investment Management Inc. grew its position in QCR by 6.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 145,990 shares of the bank’s stock worth $11,773,000 after purchasing an additional 9,292 shares during the period. 70.01% of the stock is currently owned by hedge funds and other institutional investors.

QCR Company Profile

QCR Holdings, Inc, a multi-bank holding company, provides commercial and consumer banking, and trust and asset management services. The company’s deposit products include noninterest-bearing demand, interest-bearing demand, time, and brokered deposits. It also provides various commercial and retail lending/leasing, and investment services to corporations, partnerships, individuals, and government agencies.