Zacks: Analysts Anticipate QCR Holdings, Inc. (QCRH) Will Announce Quarterly Sales of $45.06 Million

Wall Street brokerages expect QCR Holdings, Inc. (NASDAQ:QCRH) to report sales of $45.06 million for the current quarter, Zacks reports. Four analysts have made estimates for QCR’s earnings, with the highest sales estimate coming in at $45.80 million and the lowest estimate coming in at $43.25 million. QCR reported sales of $35.26 million in the same quarter last year, which indicates a positive year over year growth rate of 27.8%. The company is scheduled to announce its next earnings results on Thursday, November 1st.

According to Zacks, analysts expect that QCR will report full-year sales of $175.17 million for the current fiscal year, with estimates ranging from $172.59 million to $179.30 million. For the next fiscal year, analysts expect that the company will report sales of $197.47 million per share, with estimates ranging from $195.50 million to $201.30 million. Zacks Investment Research’s sales averages are an average based on a survey of analysts that follow QCR.

QCR (NASDAQ:QCRH) last issued its earnings results on Thursday, July 19th. The bank reported $0.77 EPS for the quarter, missing the consensus estimate of $0.79 by ($0.02). The firm had revenue of $41.00 million during the quarter, compared to the consensus estimate of $41.58 million. QCR had a return on equity of 11.54% and a net margin of 20.84%.

Several research analysts recently commented on the company. BidaskClub raised QCR from a “sell” rating to a “hold” rating in a research report on Thursday, June 21st. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $52.00 target price on shares of QCR in a research report on Monday, July 23rd. Finally, ValuEngine cut QCR from a “hold” rating to a “sell” rating in a research report on Friday, July 20th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $53.60.

QCRH stock traded down $0.35 during midday trading on Monday, hitting $44.00. The stock had a trading volume of 44,700 shares, compared to its average volume of 51,165. The stock has a market cap of $694.72 million, a P/E ratio of 16.54, a price-to-earnings-growth ratio of 1.43 and a beta of 0.38. QCR has a 52 week low of $39.85 and a 52 week high of $49.70. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.97 and a quick ratio of 0.97.

In related news, CEO Thomas D. Budd sold 856 shares of the firm’s stock in a transaction on Monday, July 9th. The stock was sold at an average price of $49.50, for a total value of $42,372.00. Following the completion of the transaction, the chief executive officer now directly owns 4,045 shares of the company’s stock, valued at $200,227.50. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 8.80% of the stock is owned by company insiders.

A number of hedge funds have recently modified their holdings of the stock. California Public Employees Retirement System lifted its holdings in shares of QCR by 141.8% during the second quarter. California Public Employees Retirement System now owns 23,537 shares of the bank’s stock valued at $1,117,000 after acquiring an additional 13,801 shares during the period. Macquarie Group Ltd. lifted its holdings in shares of QCR by 148.8% during the second quarter. Macquarie Group Ltd. now owns 5,350 shares of the bank’s stock valued at $254,000 after acquiring an additional 3,200 shares during the period. Bank of America Corp DE lifted its holdings in shares of QCR by 21.8% during the second quarter. Bank of America Corp DE now owns 86,297 shares of the bank’s stock valued at $4,095,000 after acquiring an additional 15,463 shares during the period. Renaissance Technologies LLC lifted its holdings in shares of QCR by 18.6% during the second quarter. Renaissance Technologies LLC now owns 510,700 shares of the bank’s stock valued at $24,233,000 after acquiring an additional 80,200 shares during the period. Finally, Employees Retirement System of Texas bought a new position in shares of QCR during the second quarter valued at $1,186,000. 56.86% of the stock is owned by hedge funds and other institutional investors.

About QCR

QCR Holdings, Inc, a multi-bank holding company, provides commercial and consumer banking, and trust and asset management services. The company operates through Commercial Banking and Wealth Management segments. Its deposit products include noninterest and interest-bearing demand, time, and brokered time deposits.

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