QCR (NASDAQ:QCRH) Price Target Raised to $96.00

QCR (NASDAQ:QCRH) had its price objective hoisted by DA Davidson from $92.00 to $96.00 in a research report sent to investors on Thursday morning,Benzinga reports. They currently have a neutral rating on the bank’s stock.

A number of other equities research analysts have also recently commented on the stock. Keefe, Bruyette & Woods upped their target price on shares of QCR from $92.00 to $102.00 and gave the company an “outperform” rating in a report on Thursday. Piper Sandler boosted 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. Zacks Research cut QCR from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 29th. Raymond James Financial reiterated 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. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of QCR in a report on Monday, December 29th. Three research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $102.25.

QCR Trading Down 0.6%

NASDAQ:QCRH opened at $90.26 on Thursday. The company has a market capitalization of $1.52 billion, a PE ratio of 12.02 and a beta of 0.82. QCR has a 52-week low of $60.83 and a 52-week high of $92.00. The stock’s 50 day moving average price is $85.30 and its 200 day moving average price is $78.82. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.65.

QCR (NASDAQ:QCRH) last posted its quarterly earnings data on Tuesday, January 27th. The bank reported $2.21 earnings per share for the quarter, beating the consensus estimate of $1.96 by $0.25. The business had revenue of $107.02 million during the quarter, compared to the consensus estimate of $106.87 million. QCR had a return on equity of 12.30% and a net margin of 21.07%. On average, research analysts anticipate that QCR will post 6.82 EPS for the current year.

QCR Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 7th. Stockholders of record on Tuesday, December 23rd were paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend was Tuesday, December 23rd. QCR’s dividend payout ratio is 3.20%.

Institutional Trading of QCR

A number of institutional investors have recently modified their holdings of QCRH. Assetmark Inc. purchased a new position in QCR in the fourth quarter worth $37,000. Farther Finance Advisors LLC grew its stake in shares of QCR by 34.6% during the 4th quarter. Farther Finance Advisors LLC now owns 576 shares of the bank’s stock worth $48,000 after purchasing an additional 148 shares during the period. State of Alaska Department of Revenue purchased a new position in shares of QCR in the 3rd quarter valued at about $51,000. Quadrant Capital Group LLC acquired a new stake in shares of QCR in the third quarter valued at about $72,000. Finally, Russell Investments Group Ltd. acquired a new stake in shares of QCR in the third quarter valued at about $104,000. 70.01% of the stock is currently owned by hedge funds and other institutional investors.

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.