QCR (NASDAQ:QCRH) Sets New 52-Week High – Still a Buy?

Shares of QCR Holdings, Inc. (NASDAQ:QCRH) hit a new 52-week high on Thursday . The company traded as high as $106.68 and last traded at $106.1610, with a volume of 7669 shares trading hands. The stock had previously closed at $105.76.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on QCRH shares. Piper Sandler reaffirmed an “overweight” rating and set a $123.00 target price (up from $107.00) on shares of QCR in a research note on Monday, July 27th. Weiss Ratings reissued a “buy (b)” rating on shares of QCR in a research report on Monday, July 6th. Keefe, Bruyette & Woods boosted their price target on shares of QCR from $105.00 to $108.00 and gave the stock an “outperform” rating in a research note on Friday, July 24th. DA Davidson upped their price objective on QCR from $97.00 to $105.00 and gave the stock a “neutral” rating in a research report on Monday, July 27th. Finally, Raymond James Financial reiterated an “outperform” rating and issued a $99.00 price objective on shares of QCR in a research note on Monday, April 27th. Four analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, QCR presently has a consensus rating of “Moderate Buy” and an average target price of $108.75.

QCR Price Performance

The stock’s 50 day moving average is $98.27 and its two-hundred day moving average is $92.23. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.96 and a quick ratio of 0.89. The stock has a market capitalization of $1.73 billion, a PE ratio of 12.53 and a beta of 0.74.

QCR (NASDAQ:QCRH) last issued its quarterly earnings results on Wednesday, July 22nd. The bank reported $2.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.91 by $0.28. QCR had a net margin of 22.86% and a return on equity of 13.00%. The company had revenue of $97.34 million during the quarter, compared to the consensus estimate of $104.10 million. As a group, sell-side analysts forecast that QCR Holdings, Inc. will post 8.5 earnings per share for the current fiscal year.

QCR Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 3rd. Stockholders of record on Thursday, June 18th were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date was Thursday, June 18th. QCR’s dividend payout ratio (DPR) is presently 4.73%.

Insider Activity

In other news, CEO Laura L. Ekizian sold 750 shares of QCR stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $94.96, for a total transaction of $71,220.00. Following the completion of the sale, the chief executive officer directly owned 6,093 shares of the company’s stock, valued at approximately $578,591.28. The trade was a 10.96% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 3.20% of the company’s stock.

Institutional Trading of QCR

Hedge funds and other institutional investors have recently bought and sold shares of the business. Assetmark Inc. purchased a new stake in QCR during the 4th quarter worth about $37,000. Farther Finance Advisors LLC increased its holdings in shares of QCR by 34.6% in the 4th quarter. Farther Finance Advisors LLC now owns 576 shares of the bank’s stock valued at $48,000 after acquiring an additional 148 shares during the last quarter. Kemnay Advisory Services Inc. purchased a new position in shares of QCR in the 4th quarter valued at about $61,000. Blue Trust Inc. acquired a new stake in shares of QCR during the 1st quarter worth about $71,000. Finally, Quadrant Capital Group LLC acquired a new stake in shares of QCR during the 3rd quarter worth about $72,000. 70.01% of the stock is currently owned by institutional investors and hedge funds.

QCR Company Profile

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.