QCR (NASDAQ:QCRH) Hits New 52-Week High – Time to Buy?

QCR Holdings, Inc. (NASDAQ:QCRH) reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $99.43 and last traded at $98.85, with a volume of 118028 shares traded. The stock had previously closed at $97.35.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. 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 reissued an “outperform” rating and set a $99.00 price objective on shares of QCR in a report on Monday, April 27th. Four equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $101.00.

QCR Price Performance

The stock has a market capitalization of $1.63 billion, a P/E ratio of 12.39 and a beta of 0.75. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.89 and a current ratio of 0.96. The stock has a 50-day simple moving average of $92.50 and a 200 day simple moving average of $89.09.

QCR (NASDAQ:QCRH) last announced its quarterly earnings data on Wednesday, April 22nd. The bank reported $1.99 EPS for the quarter, topping analysts’ consensus estimates of $1.78 by $0.21. QCR had a return on equity of 12.54% and a net margin of 21.98%.The firm had revenue of $89.52 million during the quarter, compared to analyst estimates of $105.42 million. On average, equities analysts forecast that QCR Holdings, Inc. will post 8.13 earnings per share for the current fiscal year.

QCR Dividend Announcement

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

Insider Buying and Selling

In other QCR news, CEO Laura L. Ekizian sold 750 shares of the firm’s stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $94.96, for a total transaction of $71,220.00. Following the sale, the chief executive officer directly owned 6,093 shares in the company, valued at approximately $578,591.28. This trade represents a 10.96% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider James D. Klein sold 310 shares of the company’s stock in a transaction that occurred on Thursday, April 30th. The shares were sold at an average price of $91.00, for a total transaction of $28,210.00. Following the completion of the transaction, the insider owned 428 shares of the company’s stock, valued at $38,948. This trade represents a 42.01% decrease in their position. The SEC filing for this sale provides additional information. 3.20% of the stock is currently owned by corporate insiders.

Institutional Trading of QCR

Several hedge funds and other institutional investors have recently modified their holdings of QCRH. Assetmark Inc. bought a new stake in QCR in the 4th quarter valued at approximately $37,000. Farther Finance Advisors LLC lifted its position in shares of QCR by 34.6% in the fourth quarter. Farther Finance Advisors LLC now owns 576 shares of the bank’s stock worth $48,000 after purchasing an additional 148 shares in the last quarter. Kemnay Advisory Services Inc. acquired a new position in QCR during the fourth quarter worth $61,000. Blue Trust Inc. bought a new position in QCR in the first quarter valued at $71,000. Finally, Quadrant Capital Group LLC acquired a new stake in QCR in the 3rd quarter valued at $72,000. Institutional investors and hedge funds own 70.01% of the company’s stock.

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.