QCR (NASDAQ:QCRH) Upgraded to “Moderate Buy” at Raymond James Financial

Raymond James Financial upgraded shares of QCR (NASDAQ:QCRH) to a moderate buy rating in a research report released on Wednesday morning,Zacks reports.

QCRH has been the subject of several other reports. Keefe, Bruyette & Woods increased their price objective on QCR from $105.00 to $108.00 and gave the stock an “outperform” rating in a research note on Friday, July 24th. Stephens initiated coverage on shares of QCR in a research note on Friday, September 18th. They issued an “equal weight” rating and a $107.00 target price on the stock. Weiss Ratings reaffirmed a “buy (b)” rating on shares of QCR in a report on Monday, July 6th. DA Davidson increased their target price on shares of QCR from $97.00 to $105.00 and gave the stock a “neutral” rating in a research report on Monday, July 27th. Finally, Piper Sandler reissued an “overweight” rating and set a $123.00 price target (up from $107.00) on shares of QCR in a report on Monday, July 27th. Four equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $110.60.

QCR Trading Up 1.7%

QCRH stock opened at $100.95 on Wednesday. QCR has a 1-year low of $66.65 and a 1-year high of $108.11. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.57. The business’s 50 day moving average is $101.95 and its 200-day moving average is $95.31. The firm has a market cap of $1.65 billion, a P/E ratio of 11.93 and a beta of 0.74.

QCR (NASDAQ:QCRH) last posted its earnings results on Wednesday, July 22nd. The bank reported $2.19 EPS for the quarter, topping the consensus estimate of $1.91 by $0.28. The business had revenue of $97.34 million during the quarter, compared to the consensus estimate of $104.10 million. QCR had a return on equity of 12.87% and a net margin of 22.86%. Equities analysts anticipate that QCR will post 8.43 earnings per share for the current fiscal year.

QCR Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, October 5th. Investors of record on Friday, September 18th will be given a dividend of $0.15 per share. This is a positive change from QCR’s previous quarterly dividend of $0.10. The ex-dividend date is Friday, September 18th. This represents a $0.60 annualized dividend and a yield of 0.6%. QCR’s dividend payout ratio is currently 7.09%.

Institutional Investors Weigh In On QCR

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Cetera Investment Advisers increased its stake in shares of QCR by 2.4% in the 1st quarter. Cetera Investment Advisers now owns 4,999 shares of the bank’s stock valued at $427,000 after buying an additional 116 shares during the period. Assetmark Inc. lifted its stake in shares of QCR by 50.0% during the first quarter. Assetmark Inc. now owns 675 shares of the bank’s stock valued at $58,000 after acquiring an additional 225 shares during the period. Nykredit A S bought a new position in QCR in the second quarter valued at about $27,000. Lazard Asset Management LLC boosted its holdings in QCR by 1.9% in the first quarter. Lazard Asset Management LLC now owns 18,827 shares of the bank’s stock valued at $1,609,000 after acquiring an additional 354 shares during the last quarter. Finally, Blue Trust Inc. acquired a new stake in QCR in the first quarter worth about $71,000. Institutional investors and hedge funds own 70.01% of the company’s stock.

QCR Company Profile

QCR Holdings, Inc is a bank holding company headquartered in Moline, Illinois. Through its community banking subsidiaries, the company provides financial services to businesses, professionals, individuals and institutions in selected Midwestern markets.

Its banking operations offer commercial and consumer lending, deposit accounts, treasury and cash-management services, mortgage lending, online and mobile banking, and other traditional banking products. The company also provides wealth management, trust, investment and related financial services through affiliated businesses.

QCR Holdings operates through banks including Quad City Bank & Trust, Cedar Rapids Bank & Trust, Community State Bank and Springfield First Community Bank.