QCR (NASDAQ:QCRH) Releases Earnings Results, Beats Expectations By $0.25 EPS

QCR (NASDAQ:QCRH) released its quarterly earnings data on Tuesday. The bank reported $2.21 EPS for the quarter, beating analysts’ consensus estimates of $1.96 by $0.25, FiscalAI reports. The company had revenue of $107.02 million during the quarter, compared to analyst estimates of $106.87 million. QCR had a net margin of 20.64% and a return on equity of 12.04%.

QCR Trading Up 1.1%

QCRH stock opened at $88.13 on Wednesday. The company has a market capitalization of $1.48 billion, a PE ratio of 12.31 and a beta of 0.82. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.01 and a current ratio of 1.01. QCR has a one year low of $60.83 and a one year high of $91.40. The company’s 50 day moving average price is $84.52 and its two-hundred day moving average price is $78.50.

QCR Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 7th. Shareholders of record on Tuesday, December 23rd were given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date was Tuesday, December 23rd. QCR’s dividend payout ratio (DPR) is presently 3.35%.

Analysts Set New Price Targets

A number of research analysts have recently commented on QCRH shares. Weiss Ratings restated a “hold (c+)” rating on shares of QCR in a research report on Monday, December 29th. Zacks Research lowered QCR from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 29th. Raymond James Financial restated an “outperform” rating and issued a $88.00 target price (up from $85.00) on shares of QCR in a research note on Monday, October 27th. Piper Sandler lifted their price target on QCR from $92.50 to $97.00 and gave the company an “overweight” rating in a research report on Monday, October 27th. Finally, DA Davidson reissued a “neutral” rating and set a $83.00 price objective on shares of QCR in a report on Thursday, October 9th. Three analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, QCR has an average rating of “Moderate Buy” and an average price target of $90.00.

Hedge Funds Weigh In On QCR

A number of large investors have recently added to or reduced their stakes in QCRH. Hotchkis & Wiley Capital Management LLC purchased a new stake in QCR during the third quarter valued at about $9,825,000. Millennium Management LLC boosted its holdings in QCR by 124.5% during the 1st quarter. Millennium Management LLC now owns 98,583 shares of the bank’s stock valued at $7,031,000 after acquiring an additional 54,678 shares during the period. Qube Research & Technologies Ltd grew its position in QCR by 28.4% during the 2nd quarter. Qube Research & Technologies Ltd now owns 155,127 shares of the bank’s stock worth $10,533,000 after acquiring an additional 34,346 shares during the last quarter. PMC FIG Opportunities LLC grew its position in QCR by 159.7% during the 3rd quarter. PMC FIG Opportunities LLC now owns 35,354 shares of the bank’s stock worth $2,674,000 after acquiring an additional 21,739 shares during the last quarter. Finally, Jane Street Group LLC increased its stake in QCR by 72.1% in the 2nd quarter. Jane Street Group LLC now owns 51,712 shares of the bank’s stock worth $3,511,000 after purchasing an additional 21,660 shares during the period. Hedge funds and other institutional investors own 70.01% of the company’s stock.

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.