QCR (NASDAQ:QCRH) Upgraded by Wall Street Zen to “Hold” Rating

Wall Street Zen upgraded shares of QCR (NASDAQ:QCRH) from a sell rating to a hold rating in a research report released on Friday.

Several other brokerages also recently issued reports on QCRH. Keefe, Bruyette & Woods cut their price target on shares of QCR from $99.00 to $90.00 and set an “outperform” rating for the company in a report on Thursday, April 24th. Raymond James set a $78.00 price objective on shares of QCR and gave the stock an “outperform” rating in a report on Thursday, April 24th. Finally, Piper Sandler cut their target price on shares of QCR from $98.00 to $88.00 and set an “overweight” rating for the company in a research note on Thursday, April 24th.

QCR Stock Performance

NASDAQ:QCRH opened at $67.77 on Friday. The firm has a market capitalization of $1.15 billion, a PE ratio of 10.10 and a beta of 0.80. The company has a quick ratio of 0.99, a current ratio of 1.02 and a debt-to-equity ratio of 0.67. QCR has a 12-month low of $54.75 and a 12-month high of $96.08. The firm has a 50-day moving average price of $67.59 and a 200 day moving average price of $76.40.

QCR (NASDAQ:QCRH) last issued its earnings results on Tuesday, April 22nd. The bank reported $1.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.52 by $0.01. The business had revenue of $76.88 million during the quarter, compared to analysts’ expectations of $94.01 million. QCR had a return on equity of 12.68% and a net margin of 19.06%. During the same period in the prior year, the firm posted $1.59 EPS. Research analysts anticipate that QCR will post 6.82 earnings per share for the current fiscal year.

QCR Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Wednesday, June 18th will be given a dividend of $0.06 per share. The ex-dividend date of this dividend is Wednesday, June 18th. This represents a $0.24 annualized dividend and a yield of 0.35%. QCR’s dividend payout ratio (DPR) is 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 now directly owns 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. Also, insider James D. Klein sold 630 shares of QCR stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $73.40, for a total transaction of $46,242.00. Following the transaction, the insider now directly owns 428 shares in the company, valued at $31,415.20. The trade was a 59.55% decrease in their position. The disclosure for this sale can be found here. 3.70% of the stock is owned by insiders.

Institutional Trading of QCR

A number of institutional investors have recently modified their holdings of the company. Strs Ohio bought a new position in shares of QCR in the first quarter valued at $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 acquiring an additional 15,501 shares during the last quarter. Empowered Funds LLC grew its position in shares of QCR by 2.0% in the 1st quarter. Empowered Funds LLC now owns 68,631 shares of the bank’s stock valued at $4,895,000 after acquiring an additional 1,364 shares during the period. Dean Capital Management increased its stake in shares of QCR by 13.5% during the 1st quarter. Dean Capital Management now owns 32,050 shares of the bank’s stock worth $2,286,000 after purchasing an additional 3,808 shares during the last quarter. Finally, Millennium Management LLC increased its stake in shares of QCR by 124.5% during the 1st quarter. Millennium Management LLC now owns 98,583 shares of the bank’s stock worth $7,031,000 after purchasing an additional 54,678 shares during the last quarter. 70.01% of the stock is currently owned by institutional investors.

About QCR

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.