QCR (NASDAQ:QCRH) Sets New 1-Year High – Here’s Why

Shares of QCR Holdings, Inc. (NASDAQ:QCRH) hit a new 52-week high on Friday . The company traded as high as $97.57 and last traded at $97.37, with a volume of 10014 shares. The stock had previously closed at $96.62.

Analyst Ratings Changes

QCRH has been the subject of a number of recent analyst reports. Piper Sandler reduced their target price on QCR from $108.00 to $107.00 and set an “overweight” rating for the company in a report on Monday, April 27th. Raymond James Financial reaffirmed an “outperform” rating and set a $99.00 price target on shares of QCR in a research note on Monday, April 27th. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, QCR presently has a consensus rating of “Moderate Buy” and a consensus price target of $101.00.

QCR Trading Up 0.5%

The company has a debt-to-equity ratio of 0.37, a current ratio of 0.96 and a quick ratio of 0.89. The company has a market cap of $1.60 billion, a price-to-earnings ratio of 12.17 and a beta of 0.76. The business’s 50-day simple moving average is $92.01 and its 200-day simple moving average is $88.77.

QCR (NASDAQ:QCRH) last released its quarterly earnings results on Wednesday, April 22nd. The bank reported $1.99 EPS for the quarter, beating the consensus estimate of $1.78 by $0.21. QCR had a net margin of 21.98% and a return on equity of 12.54%. The business had revenue of $89.52 million for the quarter, compared to analyst estimates of $105.42 million. Research analysts predict that QCR Holdings, Inc. will post 8.13 earnings per share for the current fiscal year.

QCR Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 3rd. Investors of record on Thursday, June 18th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Thursday, June 18th. This represents a $0.40 dividend on an annualized basis and a yield of 0.4%. QCR’s dividend payout ratio is presently 5.01%.

Insiders Place Their Bets

In other news, CEO Laura L. Ekizian sold 750 shares of the business’s stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $94.96, for a total value 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. The trade was a 10.96% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider James D. Klein sold 310 shares of the company’s stock in a transaction on 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 sale, the insider owned 428 shares in the company, valued at $38,948. This represents a 42.01% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 3.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Kennedy Capital Management LLC grew its holdings in shares of QCR by 108.2% during the third quarter. Kennedy Capital Management LLC now owns 694,551 shares of the bank’s stock worth $52,536,000 after buying an additional 360,884 shares in the last quarter. Victory Capital Management Inc. lifted its stake in shares of QCR by 715.4% during the third quarter. Victory Capital Management Inc. now owns 400,229 shares of the bank’s stock valued at $30,273,000 after buying an additional 351,145 shares during the period. Schroder Investment Management Group lifted its stake in shares of QCR by 86.2% during the third quarter. Schroder Investment Management Group now owns 350,963 shares of the bank’s stock valued at $26,663,000 after buying an additional 162,482 shares during the period. Hotchkis & Wiley Capital Management LLC acquired a new stake in QCR during the third quarter worth approximately $9,825,000. Finally, Rhino Investment Partners Inc boosted its position in QCR by 122.1% during the first quarter. Rhino Investment Partners Inc now owns 133,324 shares of the bank’s stock worth $11,393,000 after acquiring an additional 73,308 shares during the last quarter. 70.01% of the stock is currently owned by hedge funds and other institutional investors.

QCR Company Profile

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.