QCR (NASDAQ:QCRH) Shares Pass Above 200 Day Moving Average – Here’s What Happened

QCR Holdings, Inc. (NASDAQ:QCRH) crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $71.75 and traded as high as $74.00. QCR shares last traded at $73.96, with a volume of 94,821 shares traded.

Analysts Set New Price Targets

A number of equities research analysts have commented on QCRH shares. Piper Sandler decreased their price objective on shares of QCR from $98.00 to $88.00 and set an “overweight” rating on the stock in a report on Thursday, April 24th. Wall Street Zen lowered shares of QCR from a “hold” rating to a “sell” rating in a report on Saturday, June 28th. Raymond James Financial set a $78.00 price objective on QCR and gave the company an “outperform” rating in a research report on Thursday, April 24th. Finally, Keefe, Bruyette & Woods decreased their price objective on QCR from $99.00 to $90.00 and set an “outperform” rating on the stock in a research report on Thursday, April 24th.

QCR Stock Up 2.8%

The company has a market cap of $1.25 billion, a P/E ratio of 11.12 and a beta of 0.80. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.42. The firm’s 50 day moving average price is $68.22 and its 200-day moving average price is $71.75.

QCR (NASDAQ:QCRH) last issued its earnings results on Tuesday, April 22nd. The bank reported $1.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.52 by $0.01. QCR had a net margin of 19.17% and a return on equity of 12.03%. The company had revenue of $76.88 million for the quarter, compared to analyst estimates of $94.01 million. During the same quarter last year, the firm earned $1.59 EPS. As a group, equities research analysts expect that QCR Holdings, Inc. will post 6.82 EPS for the current year.

QCR Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 18th were given a $0.06 dividend. The ex-dividend date of this dividend was Wednesday, June 18th. This represents a $0.24 annualized dividend and a dividend yield of 0.32%. QCR’s dividend payout ratio is currently 3.61%.

Insider Activity

In related news, CEO Larry J. Helling purchased 1,000 shares of QCR stock in a transaction dated Monday, April 28th. The shares were acquired at an average cost of $64.53 per share, for a total transaction of $64,530.00. Following the transaction, the chief executive officer directly owned 40,264 shares of the company’s stock, valued at approximately $2,598,235.92. This trade represents a 2.55% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 3.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Wedge Capital Management L L P NC lifted its holdings in QCR by 1.9% during the second quarter. Wedge Capital Management L L P NC now owns 36,977 shares of the bank’s stock worth $2,511,000 after acquiring an additional 681 shares in the last quarter. Strs Ohio bought a new position in QCR in the first quarter valued at approximately $642,000. Jane Street Group LLC lifted its stake in QCR by 106.5% in the first quarter. Jane Street Group LLC now owns 30,052 shares of the bank’s stock valued at $2,143,000 after buying an additional 15,501 shares in the last quarter. Empowered Funds LLC lifted its stake in QCR by 2.0% in the first quarter. Empowered Funds LLC now owns 68,631 shares of the bank’s stock valued at $4,895,000 after buying an additional 1,364 shares in the last quarter. Finally, Dean Capital Management lifted its stake in QCR by 13.5% in the first quarter. Dean Capital Management now owns 32,050 shares of the bank’s stock valued at $2,286,000 after buying an additional 3,808 shares in the last quarter. Institutional investors own 70.01% of the company’s stock.

QCR Company Profile

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.