DA Davidson Downgrades QCR (NASDAQ:QCRH) to Neutral

QCR (NASDAQ:QCRH) was downgraded by stock analysts at DA Davidson from a “buy” rating to a “neutral” rating in a report issued on Thursday, Marketbeat.com reports. They currently have a $83.00 price target on the bank’s stock. DA Davidson’s target price would indicate a potential upside of 18.96% from the stock’s current price.

A number of other brokerages have also recently commented on QCRH. Wall Street Zen raised shares of QCR from a “sell” rating to a “hold” rating in a research note on Saturday, July 26th. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $92.00 price objective (up from $90.00) on shares of QCR in a research note on Friday, July 25th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of QCR in a research note on Wednesday. Finally, Piper Sandler upped their target price on QCR from $88.00 to $92.50 and gave the company an “overweight” rating in a research note on Monday, July 28th. Four equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, QCR has a consensus rating of “Moderate Buy” and an average target price of $86.38.

QCR Stock Down 3.2%

Shares of NASDAQ QCRH opened at $69.77 on Thursday. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.48. QCR has a 52 week low of $60.83 and a 52 week high of $96.08. The firm has a 50-day moving average price of $76.18 and a 200 day moving average price of $71.25. The stock has a market capitalization of $1.18 billion, a price-to-earnings ratio of 10.51 and a beta of 0.83.

QCR (NASDAQ:QCRH) last released its quarterly earnings data on Wednesday, July 23rd. The bank reported $1.73 earnings per share for the quarter, beating the consensus estimate of $1.63 by $0.10. The firm had revenue of $84.20 million during the quarter, compared to the consensus estimate of $95.11 million. QCR had a return on equity of 11.71% and a net margin of 19.43%. Equities research analysts anticipate that QCR will post 6.82 EPS for the current fiscal year.

Insider Buying and Selling

In other QCR news, CEO Laura L. Ekizian sold 333 shares of QCR stock in a transaction that occurred on Friday, September 5th. The shares were sold at an average price of $80.00, for a total value of $26,640.00. Following the completion of the sale, the chief executive officer directly owned 5,632 shares of the company’s stock, valued at approximately $450,560. The trade was a 5.58% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 3.70% of the company’s stock.

Institutional Trading of QCR

A number of hedge funds have recently added to or reduced their stakes in QCRH. Nuveen LLC acquired a new stake in QCR in the 1st quarter worth about $14,618,000. Kennedy Capital Management LLC boosted its stake in QCR by 33.6% in the 2nd quarter. Kennedy Capital Management LLC now owns 333,667 shares of the bank’s stock worth $22,656,000 after buying an additional 83,977 shares during the last quarter. Millennium Management LLC raised its stake in QCR by 124.5% during the first quarter. Millennium Management LLC now owns 98,583 shares of the bank’s stock worth $7,031,000 after purchasing an additional 54,678 shares during the period. Boothbay Fund Management LLC raised its stake in QCR by 62.5% during the first quarter. Boothbay Fund Management LLC now owns 136,140 shares of the bank’s stock worth $9,710,000 after purchasing an additional 52,340 shares during the period. Finally, Schroder Investment Management Group raised its stake in QCR by 25.2% during the second quarter. Schroder Investment Management Group now owns 188,481 shares of the bank’s stock worth $12,809,000 after purchasing an additional 37,905 shares during the period. 70.01% of the stock is owned by institutional investors and hedge funds.

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.