QCR (NASDAQ:QCRH) Research Coverage Started at Raymond James Financial

Raymond James Financial began coverage on shares of QCR (NASDAQ:QCRH) in a research note published on Thursday, MarketBeat.com reports. The firm issued an outperform rating and a $110.00 price target on the bank’s stock.

Several other research analysts have also recently weighed in on the stock. DA Davidson upped their price objective 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. Piper Sandler reiterated an “overweight” rating and set a $123.00 target price (up from $107.00) on shares of QCR in a research report on Monday, July 27th. 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. Stephens started coverage on shares of QCR in a report on Friday, September 18th. They issued an “equal weight” rating and a $107.00 price target on the stock. Finally, Weiss Ratings restated a “buy (b)” rating on shares of QCR in a research report on Monday, July 6th. Four research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, QCR presently has a consensus rating of “Moderate Buy” and a consensus target price of $110.60.

QCR Price Performance

QCR stock opened at $100.95 on Thursday. The stock has a market cap of $1.65 billion, a price-to-earnings ratio of 11.93 and a beta of 0.74. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.57. The business has a 50-day simple moving average of $101.95 and a 200 day simple moving average of $95.31. QCR has a 52 week low of $66.65 and a 52 week high of $108.11.

QCR (NASDAQ:QCRH) last released its quarterly earnings results on Wednesday, July 22nd. The bank reported $2.19 earnings per share for the quarter, beating the consensus estimate of $1.91 by $0.28. The firm had revenue of $97.34 million for the quarter, compared to analysts’ expectations of $104.10 million. QCR had a return on equity of 12.87% and a net margin of 22.86%. On average, research analysts forecast that QCR will post 8.47 earnings per share for the current fiscal year.

QCR Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 5th. Shareholders of record on Friday, September 18th will be paid a $0.15 dividend. This is a boost from QCR’s previous quarterly dividend of $0.10. This represents a $0.60 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend is Friday, September 18th. QCR’s payout ratio is presently 7.09%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Nykredit A S bought a new stake in shares of QCR in the 2nd quarter valued at about $27,000. Assetmark Inc. boosted its holdings in QCR by 50.0% during the 1st 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. Blue Trust Inc. bought a new position in QCR during the 1st quarter worth approximately $71,000. Geneos Wealth Management Inc. bought a new position in QCR during the 1st quarter worth approximately $102,000. Finally, Pinnacle Holdings LLC purchased a new position in QCR in the 2nd quarter worth approximately $162,000. 70.01% of the stock is owned by institutional investors.

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.