QCR (NASDAQ:QCRH) Hits New 12-Month High – What’s Next?

Shares of QCR Holdings, Inc. (NASDAQ:QCRH) reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $100.00 and last traded at $99.9670, with a volume of 37490 shares trading hands. The stock had previously closed at $97.19.

Wall Street Analyst Weigh In

A number of research firms have recently commented on QCRH. Weiss Ratings reiterated a “buy (b)” rating on shares of QCR in a research note on Monday, July 6th. Raymond James Financial reaffirmed an “outperform” rating and issued a $99.00 target price on shares of QCR in a report on Monday, April 27th. Finally, Piper Sandler cut their price target on QCR from $108.00 to $107.00 and set an “overweight” rating for the company in a report on Monday, April 27th. Four analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $101.00.

QCR Stock Down 1.5%

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 company has a market capitalization of $1.63 billion, a price-to-earnings ratio of 12.36 and a beta of 0.75. The firm’s 50-day simple moving average is $94.02 and its 200-day simple moving average is $89.99.

QCR (NASDAQ:QCRH) last posted its quarterly earnings data on Wednesday, April 22nd. The bank reported $1.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.78 by $0.21. QCR had a net margin of 21.98% and a return on equity of 12.54%. The company had revenue of $89.52 million for the quarter, compared to the consensus estimate of $105.42 million. Sell-side analysts forecast that QCR Holdings, Inc. will post 8.13 earnings per share for the current year.

QCR Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, July 3rd. Investors of record on Thursday, June 18th were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.4%. The ex-dividend date was Thursday, June 18th. QCR’s payout ratio is currently 5.01%.

Insider Activity

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Wedge Capital Management L L P NC increased its holdings in QCR by 12.4% in the 2nd quarter. Wedge Capital Management L L P NC now owns 40,964 shares of the bank’s stock valued at $3,988,000 after buying an additional 4,520 shares during the period. Bank of America Corp DE raised its stake in shares of QCR by 101.5% in the 1st quarter. Bank of America Corp DE now owns 42,709 shares of the bank’s stock valued at $3,649,000 after buying an additional 21,517 shares in the last quarter. Rhino Investment Partners Inc lifted its holdings in shares of QCR by 122.1% during the 1st quarter. Rhino Investment Partners Inc now owns 133,324 shares of the bank’s stock worth $11,393,000 after acquiring an additional 73,308 shares during the period. Quantinno Capital Management LP lifted its holdings in shares of QCR by 25.4% during the 1st quarter. Quantinno Capital Management LP now owns 4,537 shares of the bank’s stock worth $388,000 after acquiring an additional 918 shares during the period. Finally, Lazard Asset Management LLC lifted its holdings in shares of QCR by 1.9% during the 1st quarter. Lazard Asset Management LLC now owns 18,827 shares of the bank’s stock worth $1,609,000 after acquiring an additional 354 shares during the period. 70.01% of the stock is owned by institutional investors.

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.