QCR (NASDAQ:QCRH) Posts Quarterly Earnings Results, Beats Estimates By $0.12 EPS

QCR (NASDAQ:QCRH) posted its earnings results on Tuesday. The bank reported $2.21 earnings per share for the quarter, beating the consensus estimate of $2.09 by $0.12, FiscalAI reports. QCR had a net margin of 22.86% and a return on equity of 12.87%. The firm had revenue of $99.17 million during the quarter, compared to analyst estimates of $108.97 million.

QCR Trading Up 2.0%

Shares of NASDAQ:QCRH opened at $99.39 on Wednesday. QCR has a 1 year low of $69.55 and a 1 year high of $108.11. The firm has a market capitalization of $1.63 billion, a price-to-earnings ratio of 11.75 and a beta of 0.74. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.98 and a quick ratio of 0.98. The business’s 50 day moving average price is $100.68 and its 200-day moving average price is $96.66.

QCR Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, October 5th. Stockholders of record on Friday, September 18th were given a dividend of $0.15 per share. This is a positive change from QCR’s previous quarterly dividend of $0.10. The ex-dividend date was Friday, September 18th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.6%. QCR’s payout ratio is 7.09%.

QCR News Roundup

Here are the key news stories impacting QCR this week:

• Positive Sentiment: QCR Holdings reported third-quarter diluted EPS of $2.21, above the $2.09 consensus estimate and up from $2.17 a year earlier. Adjusted earnings also increased, providing the primary catalyst for the stock’s strength. QCR Holdings Beats Q3 Earnings and Revenue Estimates
• Positive Sentiment: Operating trends were encouraging: tax-equivalent net interest margin expanded three basis points to 3.58%, loans grew at an 11% annualized linked-quarter rate excluding m2 Equipment Finance runoff, and capital markets revenue rose 10% sequentially to $16.9 million. Wealth-management revenue increased 12% year over year to $5.7 million. QCR Holdings Announces Third-Quarter Net Income
• Positive Sentiment: Net income was $36.4 million, while nonperforming assets improved to 0.39% of total assets, the lowest level in two years. The company also repurchased $9.5 million of stock, or 94,861 shares, potentially supporting per-share results. QCR Holdings Reports Third-Quarter Net Income
• Neutral Sentiment: Management highlighted a new strategic investor presentation, giving investors additional information on the company’s outlook and strategy amid an uncertain banking and economic environment. QCR Holdings Strategic Investor Presentation
• Negative Sentiment: Quarterly revenue of approximately $99.2 million fell short of analyst expectations near $109.0 million. The revenue miss and largely flat year-over-year net income could limit the upside from the EPS beat. QCR Holdings Reports Sales Below Analyst Estimates

Analyst Ratings Changes

A number of analysts recently issued reports on QCRH shares. Weiss Ratings reissued a “buy (b)” rating on shares of QCR in a report on Friday, October 2nd. Raymond James Financial initiated coverage on shares of QCR in a report on Thursday, October 1st. They issued an “outperform” rating and a $110.00 price objective for the company. Stephens initiated coverage on shares of QCR in a research report on Friday, September 18th. They issued an “equal weight” rating and a $107.00 price objective for the company. DA Davidson upped their price objective 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. Finally, Keefe, Bruyette & Woods increased their target price on shares of QCR from $105.00 to $108.00 and gave the stock an “outperform” rating in a research note on Friday, July 24th. Four analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, QCR presently has an average rating of “Moderate Buy” and an average target price of $110.60.

About QCR

QCR Holdings, Inc (NASDAQ: QCRH) is a bank holding company that provides commercial and consumer banking services through a group of community banking subsidiaries. Its offerings include business and consumer loans, deposit accounts, treasury management, mortgage lending, cash management, and related financial services.

The company serves businesses, individuals, families, and institutions in selected Midwestern markets. Its banking operations have a presence in eastern Iowa, the Quad Cities region of Iowa and Illinois, and communities in Missouri, with a focus on relationship-based commercial banking and local decision-making.

QCR Holdings traces its origins to the early 1990s and has expanded through the development and acquisition of community banks.