QCR (NASDAQ:QCRH) Releases Earnings Results

QCR (NASDAQ:QCRH) announced its quarterly earnings results on Friday. The bank reported $2.17 earnings per share for the quarter, FiscalAI reports. QCR had a return on equity of 12.22% and a net margin of 20.64%.The company had revenue of $101.45 million during the quarter.

QCR Price Performance

Shares of QCRH stock traded down $0.03 during mid-day trading on Friday, hitting $76.25. 68,398 shares of the stock traded hands, compared to its average volume of 96,265. The company’s 50-day simple moving average is $75.51 and its 200-day simple moving average is $72.02. QCR has a twelve month low of $60.83 and a twelve month high of $96.08. The firm has a market cap of $1.29 billion, a price-to-earnings ratio of 10.65 and a beta of 0.87. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.98 and a current ratio of 0.98.

QCR Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 3rd. Stockholders of record on Thursday, September 18th were issued a $0.06 dividend. The ex-dividend date was Thursday, September 18th. This represents a $0.24 annualized dividend and a dividend yield of 0.3%. QCR’s dividend payout ratio (DPR) is 3.35%.

Analyst Upgrades and Downgrades

QCRH has been the topic of several recent analyst reports. Zacks Research raised QCR from a “hold” rating to a “strong-buy” rating in a report on Monday, October 27th. Raymond James Financial reissued an “outperform” rating and issued a $88.00 target price (up previously from $85.00) on shares of QCR in a report on Monday, October 27th. Weiss Ratings downgraded shares of QCR from a “buy (b-)” rating to a “hold (c+)” rating in a report on Saturday, October 25th. Piper Sandler increased their price target on QCR from $92.50 to $97.00 and gave the stock an “overweight” rating in a research note on Monday, October 27th. Finally, DA Davidson reaffirmed a “neutral” rating and set a $83.00 price target on shares of QCR in a research report on Thursday, October 9th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $90.00.

Insider Buying and Selling at QCR

In other QCR news, CEO Laura L. Ekizian sold 1,000 shares of QCR stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $80.00, for a total value of $80,000.00. Following the transaction, the chief executive officer owned 5,965 shares in the company, valued at approximately $477,200. The trade was a 14.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 3.70% of the company’s stock.

Hedge Funds Weigh In On QCR

A number of hedge funds have recently made changes to their positions in QCRH. Raymond James Financial Inc. grew its holdings in shares of QCR by 24.8% in the 1st quarter. Raymond James Financial Inc. now owns 61,603 shares of the bank’s stock valued at $4,394,000 after buying an additional 12,256 shares during the period. Strs Ohio bought a new position in shares of QCR during the 1st quarter valued at about $642,000. Vanguard Group Inc. grew its position in shares of QCR by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 952,780 shares of the bank’s stock valued at $67,952,000 after purchasing an additional 7,002 shares during the period. Royal Bank of Canada raised its stake in shares of QCR by 22.5% in the 1st quarter. Royal Bank of Canada now owns 144,589 shares of the bank’s stock valued at $10,312,000 after purchasing an additional 26,567 shares during the period. Finally, Deutsche Bank AG increased its stake in QCR by 93.3% in the 1st quarter. Deutsche Bank AG now owns 26,738 shares of the bank’s stock valued at $1,907,000 after buying an additional 12,907 shares during the last quarter. Institutional investors and hedge funds own 70.01% of the company’s stock.

About QCR

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.