QCR (NASDAQ:QCRH) Sets New 52-Week High – Here’s Why

QCR Holdings, Inc. (NASDAQ:QCRH) shares reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $99.43 and last traded at $98.85, with a volume of 118028 shares traded. The stock had previously closed at $97.35.

Analysts Set New Price Targets

Several equities research analysts have recently commented on QCRH shares. Raymond James Financial reissued an “outperform” rating and issued a $99.00 price objective on shares of QCR in a report on Monday, April 27th. Piper Sandler lowered their target price on shares of QCR from $108.00 to $107.00 and set an “overweight” rating on the stock in a report on Monday, April 27th. Four equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, QCR presently has a consensus rating of “Moderate Buy” and an average target price of $101.00.

QCR Price Performance

The business has a fifty day moving average of $92.50 and a two-hundred day moving average of $89.09. 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 firm has a market capitalization of $1.63 billion, a price-to-earnings ratio of 12.39 and a beta of 0.75.

QCR (NASDAQ:QCRH) last announced its quarterly earnings results on Wednesday, April 22nd. The bank reported $1.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.78 by $0.21. QCR had a return on equity of 12.54% and a net margin of 21.98%.The business had revenue of $89.52 million during the quarter, compared to the consensus estimate of $105.42 million. As a group, research analysts predict that QCR Holdings, Inc. will post 8.13 EPS for the current fiscal year.

QCR Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 3rd. Investors of record on Thursday, June 18th will be paid a $0.10 dividend. The ex-dividend date is Thursday, June 18th. This represents a $0.40 dividend on an annualized basis and a yield of 0.4%. QCR’s dividend payout ratio is 5.01%.

Insider Transactions at QCR

In other news, insider James D. Klein sold 310 shares of the business’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 transaction of $28,210.00. Following the completion of the sale, the insider owned 428 shares in the company, valued at $38,948. The trade was a 42.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Laura L. Ekizian sold 750 shares of the company’s stock in a transaction that occurred on Tuesday, June 9th. The shares were 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 directly owned 6,093 shares in the company, valued at $578,591.28. The trade was a 10.96% decrease in their position. The SEC filing for this sale provides additional information. 3.20% of the stock is currently owned by corporate insiders.

Institutional Trading of QCR

Hedge funds have recently added to or reduced their stakes in the company. Kennedy Capital Management LLC increased its position in QCR by 108.2% during the 3rd quarter. Kennedy Capital Management LLC now owns 694,551 shares of the bank’s stock worth $52,536,000 after buying an additional 360,884 shares during the period. Victory Capital Management Inc. increased its position in QCR by 715.4% during the third quarter. Victory Capital Management Inc. now owns 400,229 shares of the bank’s stock worth $30,273,000 after acquiring an additional 351,145 shares during the period. Schroder Investment Management Group raised its stake in QCR by 86.2% in the 3rd quarter. Schroder Investment Management Group now owns 350,963 shares of the bank’s stock worth $26,663,000 after purchasing an additional 162,482 shares in the last quarter. Hotchkis & Wiley Capital Management LLC acquired a new stake in QCR in the 3rd quarter worth about $9,825,000. Finally, Rhino Investment Partners Inc boosted its holdings in QCR by 122.1% in the 1st quarter. Rhino Investment Partners Inc now owns 133,324 shares of the bank’s stock valued at $11,393,000 after purchasing an additional 73,308 shares during the period. 70.01% of the stock is owned by institutional investors and hedge funds.

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.