QCR (NASDAQ:QCRH) Upgraded by Stephens to “Hold” Rating

Stephens upgraded shares of QCR (NASDAQ:QCRH) to a hold rating in a research report sent to investors on Thursday,Zacks reports.

A number of other brokerages have also commented on QCRH. Piper Sandler reaffirmed an “overweight” rating and issued a $123.00 price target (up from $107.00) on shares of QCR in a research note on Monday, July 27th. Keefe, Bruyette & Woods boosted their price objective on shares of QCR from $105.00 to $108.00 and gave the company an “outperform” rating in a research report on Friday, July 24th. Weiss Ratings restated a “buy (b)” rating on shares of QCR in a report on Monday, July 6th. Finally, DA Davidson raised their target price on shares of QCR from $97.00 to $105.00 and gave the stock a “neutral” rating in a research report on Monday, July 27th. Four analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, QCR presently has an average rating of “Moderate Buy” and a consensus price target of $108.40.

QCR Stock Down 0.9%

Shares of NASDAQ:QCRH opened at $99.98 on Thursday. The stock’s 50-day moving average is $101.58 and its 200 day moving average is $94.27. The company has a market cap of $1.64 billion, a PE ratio of 11.82 and a beta of 0.73. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.98 and a quick ratio of 0.98. QCR has a 1 year low of $66.65 and a 1 year high of $108.11.

QCR (NASDAQ:QCRH) last issued its quarterly earnings data on Wednesday, July 22nd. The bank reported $2.19 earnings per share for the quarter, topping analysts’ consensus estimates of $1.91 by $0.28. QCR had a return on equity of 12.87% and a net margin of 22.86%.The firm had revenue of $97.34 million for the quarter, compared to analyst estimates of $104.10 million. Sell-side analysts anticipate that QCR will post 8.5 EPS for the current year.

QCR Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, October 5th. Investors of record on Friday, September 18th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Friday, September 18th. This is a positive change from QCR’s previous quarterly dividend of $0.10. This represents a $0.60 annualized dividend and a yield of 0.6%. QCR’s payout ratio is currently 4.73%.

Hedge Funds Weigh In On QCR

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp purchased a new position in shares of QCR in the 2nd quarter worth about $7,300,000. Rhino Investment Partners Inc lifted its stake in shares of QCR by 122.1% in the first quarter. Rhino Investment Partners Inc now owns 133,324 shares of the bank’s stock worth $11,393,000 after buying an additional 73,308 shares in the last quarter. Kennedy Capital Management LLC grew its holdings in shares of QCR by 9.7% during the fourth quarter. Kennedy Capital Management LLC now owns 762,068 shares of the bank’s stock valued at $63,480,000 after buying an additional 67,517 shares during the last quarter. Endeavour Capital Advisors Inc. increased its position in shares of QCR by 23.3% during the fourth quarter. Endeavour Capital Advisors Inc. now owns 328,497 shares of the bank’s stock valued at $27,364,000 after acquiring an additional 62,032 shares in the last quarter. Finally, Hillsdale Investment Management Inc. bought a new position in QCR in the 4th quarter valued at approximately $4,056,000. Hedge funds and other institutional investors own 70.01% of the company’s stock.

QCR Company Profile

QCR Holdings, Inc (NASDAQ: QCRH) is a bank holding company headquartered in Moline, Illinois. Founded in 1993, the company operates through a network of community banking subsidiaries serving businesses, professionals, entrepreneurs and individuals across parts of Illinois, Iowa, Missouri and Wisconsin.

Its banking subsidiaries provide commercial and retail banking services, including business loans, commercial real estate financing, agricultural lending, residential mortgages, consumer loans and deposit accounts.