QCR (NASDAQ:QCRH) Upgraded at Raymond James Financial

Raymond James Financial upgraded shares of QCR (NASDAQ:QCRH) to a moderate buy rating in a report issued on Wednesday,Zacks reports.

A number of other brokerages also recently issued reports on QCRH. Keefe, Bruyette & Woods lifted their price target on shares of QCR from $105.00 to $108.00 and gave the company an “outperform” rating in a report on Friday, July 24th. Stephens initiated coverage on shares of QCR in a report on Friday, September 18th. They set an “equal weight” rating and a $107.00 price objective for the company. Piper Sandler reissued an “overweight” rating and set a $123.00 price objective (up from $107.00) on shares of QCR in a report on Monday, July 27th. Weiss Ratings restated a “buy (b)” rating on shares of QCR in a research report on Monday, July 6th. Finally, DA Davidson lifted their target price on QCR from $97.00 to $105.00 and gave the stock a “neutral” rating in a report on Monday, July 27th. Four analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, QCR presently has an average rating of “Moderate Buy” and an average target price of $110.60.

QCR Trading Up 1.7%

Shares of QCRH opened at $100.95 on Wednesday. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.98 and a quick ratio of 0.98. QCR has a 1 year low of $66.65 and a 1 year high of $108.11. The company has a 50 day simple moving average of $101.95 and a two-hundred day simple moving average of $95.31. The firm has a market cap of $1.65 billion, a P/E ratio of 11.93 and a beta of 0.74.

QCR (NASDAQ:QCRH) last released its earnings results on Wednesday, July 22nd. The bank reported $2.19 EPS for the quarter, topping the consensus estimate of $1.91 by $0.28. QCR had a net margin of 22.86% and a return on equity of 12.87%. The firm had revenue of $97.34 million for the quarter, compared to the consensus estimate of $104.10 million. On average, equities analysts expect that QCR will post 8.43 earnings per share for the current fiscal year.

QCR Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 5th. Investors of record on Friday, September 18th will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Friday, September 18th. This is a positive change from QCR’s previous quarterly dividend of $0.10. This represents a $0.60 dividend on an annualized basis and a yield of 0.6%. QCR’s payout ratio is currently 7.09%.

Hedge Funds Weigh In On QCR

Several institutional investors have recently bought and sold shares of QCRH. Nykredit A S bought a new stake in shares of QCR in the 2nd quarter worth about $27,000. Assetmark Inc. raised its position in shares of QCR by 50.0% during the 1st quarter. Assetmark Inc. now owns 675 shares of the bank’s stock valued at $58,000 after buying an additional 225 shares in the last quarter. Blue Trust Inc. bought a new position in shares of QCR in the 1st quarter valued at about $71,000. Geneos Wealth Management Inc. bought a new position in shares of QCR in the 1st quarter valued at about $102,000. Finally, Pinnacle Holdings LLC bought a new position in shares of QCR in the 2nd quarter valued at about $162,000. Institutional investors own 70.01% of the company’s stock.

QCR Company Profile

QCR Holdings, Inc is a bank holding company headquartered in Moline, Illinois. Through its community banking subsidiaries, the company provides financial services to businesses, professionals, individuals and institutions in selected Midwestern markets.

Its banking operations offer commercial and consumer lending, deposit accounts, treasury and cash-management services, mortgage lending, online and mobile banking, and other traditional banking products. The company also provides wealth management, trust, investment and related financial services through affiliated businesses.

QCR Holdings operates through banks including Quad City Bank & Trust, Cedar Rapids Bank & Trust, Community State Bank and Springfield First Community Bank.