$39.74 Million in Sales Expected for QCR Holdings, Inc. (QCRH) This Quarter
Brokerages expect QCR Holdings, Inc. (NASDAQ:QCRH) to post sales of $39.74 million for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for QCR Holdings’ earnings. The lowest sales estimate is $38.88 million and the highest is $40.43 million. QCR Holdings reported sales of $36.31 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 9.4%. The firm is expected to report its next quarterly earnings results on Wednesday, February 7th.
According to Zacks, analysts expect that QCR Holdings will report full year sales of $39.74 million for the current fiscal year, with estimates ranging from $143.92 million to $151.95 million. For the next year, analysts forecast that the business will report sales of $167.42 million per share, with estimates ranging from $163.10 million to $172.21 million. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for QCR Holdings.
Several research firms have recently weighed in on QCRH. BidaskClub lowered QCR Holdings from a “buy” rating to a “hold” rating in a research report on Monday, July 24th. Maxim Group cut their price target on QCR Holdings from $53.00 to $51.00 and set a “buy” rating for the company in a research note on Friday, November 3rd. Keefe, Bruyette & Woods set a $52.00 price target on QCR Holdings and gave the company a “buy” rating in a research note on Saturday, July 22nd. Piper Jaffray Companies set a $55.00 target price on QCR Holdings and gave the stock a “buy” rating in a research note on Friday, October 6th. Finally, ValuEngine downgraded QCR Holdings from a “buy” rating to a “hold” rating in a research note on Thursday, November 9th. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $52.67.
In related news, CFO Todd A. Gipple sold 5,920 shares of the company’s stock in a transaction that occurred on Wednesday, September 13th. The stock was sold at an average price of $43.00, for a total value of $254,560.00. Following the transaction, the chief financial officer now owns 49,162 shares in the company, valued at $2,113,966. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 8.80% of the stock is currently owned by corporate insiders.
Several institutional investors have recently added to or reduced their stakes in the company. Bessemer Group Inc. increased its holdings in shares of QCR Holdings by 0.4% in the second quarter. Bessemer Group Inc. now owns 23,300 shares of the bank’s stock worth $1,104,000 after purchasing an additional 100 shares during the period. Nationwide Fund Advisors increased its stake in QCR Holdings by 2.8% in the second quarter. Nationwide Fund Advisors now owns 16,981 shares of the bank’s stock valued at $805,000 after acquiring an additional 463 shares during the last quarter. Stifel Financial Corp increased its stake in QCR Holdings by 0.5% in the second quarter. Stifel Financial Corp now owns 101,596 shares of the bank’s stock valued at $4,817,000 after acquiring an additional 464 shares during the last quarter. California Public Employees Retirement System increased its stake in QCR Holdings by 3.9% in the second quarter. California Public Employees Retirement System now owns 21,336 shares of the bank’s stock valued at $1,011,000 after acquiring an additional 800 shares during the last quarter. Finally, Rhumbline Advisers boosted its position in QCR Holdings by 9.7% during the second quarter. Rhumbline Advisers now owns 13,478 shares of the bank’s stock valued at $639,000 after buying an additional 1,196 shares during the period. 62.08% of the stock is currently owned by hedge funds and other institutional investors.
QCR Holdings (NASDAQ QCRH) opened at $43.05 on Friday. The company has a market capitalization of $597.92, a PE ratio of 16.56, a price-to-earnings-growth ratio of 1.64 and a beta of 0.59. QCR Holdings has a twelve month low of $36.85 and a twelve month high of $50.00. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.93.
QCR Holdings Company Profile
QCR Holdings, Inc is a multi-bank holding company. The Company serves the Quad Cities, Cedar Rapids, Waterloo/Cedar Falls, Des Moines/Ankeny and Rockford communities through its banking subsidiaries, Quad City Bank and Trust Company (QCBT), Cedar Rapids Bank and Trust Company (CRBT), Community State Bank (CSB), Rockford Bank and Trust Company (RB&T), and Guaranty Bank and Trust Company, which provide full-service commercial and consumer banking and trust and asset management services.
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