QCR (NASDAQ:QCRH) Reaches New 52-Week High – Still a Buy?

Shares of QCR Holdings, Inc. (NASDAQ:QCRH) hit a new 52-week high during trading on Wednesday . The stock traded as high as $88.16 and last traded at $86.5750, with a volume of 37614 shares traded. The stock had previously closed at $87.01.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on QCRH shares. Piper Sandler lifted their price objective on shares of QCR from $92.50 to $97.00 and gave the company an “overweight” rating in a research note on Monday, October 27th. DA Davidson reaffirmed a “neutral” rating and issued a $83.00 price target on shares of QCR in a research note on Thursday, October 9th. Weiss Ratings reiterated a “hold (c+)” rating on shares of QCR in a report on Monday. Zacks Research upgraded QCR from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 27th. Finally, Raymond James Financial reaffirmed an “outperform” rating and issued a $88.00 target price (up from $85.00) on shares of QCR in a research report on Monday, October 27th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $90.00.

QCR Stock Up 0.1%

The firm has a market capitalization of $1.47 billion, a P/E ratio of 12.16 and a beta of 0.85. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.01 and a current ratio of 1.01. The stock has a 50 day moving average of $77.85 and a 200-day moving average of $74.87.

QCR (NASDAQ:QCRH) last issued its quarterly earnings data on Friday, November 7th. The bank reported $2.17 earnings per share (EPS) for the quarter. QCR had a return on equity of 12.04% and a net margin of 20.64%.The business had revenue of $101.45 million for the quarter. Research analysts predict that QCR Holdings, Inc. will post 6.82 earnings per share for the current fiscal year.

QCR Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 7th. Shareholders of record on Tuesday, December 23rd will be paid a $0.06 dividend. The ex-dividend date of this dividend is Tuesday, December 23rd. This represents a $0.24 annualized dividend and a yield of 0.3%. QCR’s dividend payout ratio is currently 3.35%.

Institutional Trading of QCR

Several hedge funds have recently added to or reduced their stakes in QCRH. State of Alaska Department of Revenue purchased a new stake in QCR during the third quarter valued at about $51,000. Quadrant Capital Group LLC bought a new stake in shares of QCR in the 3rd quarter valued at about $72,000. Russell Investments Group Ltd. purchased a new stake in QCR during the 3rd quarter valued at about $104,000. EntryPoint Capital LLC bought a new position in QCR during the 1st quarter worth approximately $210,000. Finally, Entropy Technologies LP bought a new position in QCR during the 2nd quarter worth approximately $210,000. 70.01% of the stock is owned by 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’s deposit products include noninterest-bearing demand, interest-bearing demand, time, and brokered deposits. It also provides various commercial and retail lending/leasing, and investment services to corporations, partnerships, individuals, and government agencies.