QCR (NASDAQ:QCRH) Downgraded by Wall Street Zen to “Sell”

QCR (NASDAQ:QCRH) was downgraded by investment analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report released on Thursday.

A number of other analysts have also weighed in on the company. Raymond James set a $78.00 target price on QCR and gave the company an “outperform” rating in a research note on Thursday, April 24th. Piper Sandler lowered their target price on QCR from $98.00 to $88.00 and set an “overweight” rating for the company in a research note on Thursday, April 24th. Finally, Keefe, Bruyette & Woods lowered their target price on QCR from $99.00 to $90.00 and set an “outperform” rating for the company in a research note on Thursday, April 24th.

QCR Stock Performance

Shares of NASDAQ:QCRH opened at $67.67 on Thursday. QCR has a twelve month low of $54.75 and a twelve month high of $96.08. The firm has a market cap of $1.15 billion, a PE ratio of 10.08 and a beta of 0.80. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.99 and a current ratio of 1.02. The business has a fifty day moving average of $68.13 and a 200-day moving average of $77.10.

QCR (NASDAQ:QCRH) last announced its earnings results on Tuesday, April 22nd. The bank reported $1.53 earnings per share for the quarter, beating analysts’ consensus estimates of $1.52 by $0.01. QCR had a return on equity of 12.68% and a net margin of 19.06%. The company had revenue of $76.88 million during the quarter, compared to analyst estimates of $94.01 million. During the same period last year, the company posted $1.59 earnings per share. On average, equities research analysts predict that QCR will post 6.82 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Larry J. Helling acquired 1,000 shares of the stock in a transaction that occurred on Monday, April 28th. The stock was purchased at an average cost of $64.53 per share, for a total transaction of $64,530.00. Following the completion of the transaction, the chief executive officer now directly owns 40,264 shares in the company, valued at $2,598,235.92. This trade represents a 2.55% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider James D. Klein sold 630 shares of QCR stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $73.40, for a total value of $46,242.00. Following the completion of the sale, the insider now owns 428 shares of the company’s stock, valued at approximately $31,415.20. The trade was a 59.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 3.70% of the company’s stock.

Institutional Trading of QCR

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Jane Street Group LLC increased its position in QCR by 106.5% in the first quarter. Jane Street Group LLC now owns 30,052 shares of the bank’s stock worth $2,143,000 after purchasing an additional 15,501 shares during the period. Empowered Funds LLC grew its position in shares of QCR by 2.0% during the 1st quarter. Empowered Funds LLC now owns 68,631 shares of the bank’s stock worth $4,895,000 after buying an additional 1,364 shares during the period. Dean Capital Management grew its position 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 buying an additional 3,808 shares during the period. Millennium Management LLC grew its position 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 buying an additional 54,678 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of QCR by 4.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,729 shares of the bank’s stock worth $694,000 after buying an additional 403 shares during the period. 70.01% of the stock is currently owned by institutional investors and hedge funds.

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.