QCR (NASDAQ:QCRH) Stock Price Crosses Above 200-Day Moving Average – Here’s Why

QCR Holdings, Inc. (NASDAQ:QCRH)’s stock price crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $91.85 and traded as high as $104.38. QCR shares last traded at $103.87, with a volume of 67,742 shares.

Analysts Set New Price Targets

QCRH has been the subject of a number of recent analyst reports. DA Davidson increased their price target on QCR from $97.00 to $105.00 and gave the company a “neutral” rating in a research report on Monday, July 27th. Raymond James Financial reiterated an “outperform” rating and set a $99.00 target price on shares of QCR in a research report on Monday, April 27th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of QCR in a report on Monday, July 6th. Piper Sandler restated an “overweight” rating and issued a $123.00 price objective (up from $107.00) on shares of QCR in a report on Monday, July 27th. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of QCR from $105.00 to $108.00 and gave the company an “outperform” rating in a research report on Friday, July 24th. Four research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $108.75.

QCR Trading Down 0.5%

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 business’s fifty day moving average is $97.45 and its 200-day moving average is $91.85. The firm has a market cap of $1.71 billion, a P/E ratio of 12.28 and a beta of 0.74.

QCR (NASDAQ:QCRH) last announced its earnings results on Wednesday, July 22nd. The bank reported $2.19 earnings per share for the quarter, topping analysts’ consensus estimates of $1.91 by $0.28. QCR had a net margin of 22.86% and a return on equity of 13.00%. The business had revenue of $97.34 million during the quarter, compared to the consensus estimate of $104.10 million. Analysts predict that QCR Holdings, Inc. will post 8.5 EPS for the current year.

QCR Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, July 3rd. Stockholders of record on Thursday, June 18th were issued a $0.10 dividend. The ex-dividend date was Thursday, June 18th. This represents a $0.40 annualized dividend and a dividend yield of 0.4%. QCR’s dividend payout ratio is currently 4.73%.

Insider Transactions at QCR

In other news, CEO Laura L. Ekizian sold 750 shares of the firm’s stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $94.96, for a total transaction of $71,220.00. Following the completion of the sale, the chief executive officer directly owned 6,093 shares of the company’s stock, valued at $578,591.28. This trade represents a 10.96% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 3.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of QCRH. Bank of New York Mellon Corp bought a new position in shares of QCR in the 2nd quarter worth $7,300,000. Wedge Capital Management L L P NC increased its stake in shares of QCR by 12.4% during the second quarter. Wedge Capital Management L L P NC now owns 40,964 shares of the bank’s stock valued at $3,988,000 after purchasing an additional 4,520 shares in the last quarter. Bank of America Corp DE raised its holdings in QCR by 101.5% in the first quarter. Bank of America Corp DE now owns 42,709 shares of the bank’s stock worth $3,649,000 after buying an additional 21,517 shares during the last quarter. Rhino Investment Partners Inc increased 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 worth $11,393,000 after buying an additional 73,308 shares in the last quarter. Finally, Quantinno Capital Management LP boosted its stake in shares of QCR by 25.4% in the 1st quarter. Quantinno Capital Management LP now owns 4,537 shares of the bank’s stock worth $388,000 after buying an additional 918 shares during the last quarter. 70.01% of the stock is currently owned by hedge funds and other institutional investors.

About QCR

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.