QCR (NASDAQ:QCRH – Get Free Report) was upgraded by investment analysts at Stephens to a “hold” rating in a report released on Thursday, Zacks reports.
Several other analysts also recently issued reports on QCRH. Weiss Ratings reaffirmed a “buy (b)” rating on shares of QCR in a report on Monday, July 6th. DA Davidson raised their price objective on shares of QCR from $97.00 to $105.00 and gave the stock a “neutral” rating in a research note on Monday, July 27th. Piper Sandler restated an “overweight” rating and set a $123.00 price objective (up from $107.00) on shares of QCR in a research report on Monday, July 27th. Finally, Keefe, Bruyette & Woods upped their target price on QCR from $105.00 to $108.00 and gave the company an “outperform” rating in a research note on Friday, July 24th. Four equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, QCR has a consensus rating of “Moderate Buy” and an average target price of $108.40.
Read Our Latest Research Report on QCR
QCR Trading Down 0.9%
QCR (NASDAQ:QCRH – Get Free Report) last issued its quarterly earnings data on Wednesday, July 22nd. The bank reported $2.19 EPS for the quarter, beating analysts’ consensus estimates of $1.91 by $0.28. QCR had a net margin of 22.86% and a return on equity of 12.87%. The firm had revenue of $97.34 million for the quarter, compared to analysts’ expectations of $104.10 million. On average, equities research analysts expect that QCR will post 8.5 earnings per share for the current fiscal year.
Institutional Investors Weigh In On QCR
Hedge funds have recently modified their holdings of the company. Kennedy Capital Management LLC grew its holdings in shares of QCR by 9.7% during the fourth quarter. Kennedy Capital Management LLC now owns 762,068 shares of the bank’s stock worth $63,480,000 after buying an additional 67,517 shares in the last quarter. Endeavour Capital Advisors Inc. raised its position in shares of QCR by 23.3% in the fourth quarter. Endeavour Capital Advisors Inc. now owns 328,497 shares of the bank’s stock valued at $27,364,000 after buying an additional 62,032 shares during the last quarter. Wellington Management Group LLP lifted its stake in shares of QCR by 18.4% during the second quarter. Wellington Management Group LLP now owns 284,295 shares of the bank’s stock valued at $27,676,000 after buying an additional 44,106 shares during the period. Rhino Investment Partners Inc lifted its stake in shares of QCR by 122.1% during the first quarter. Rhino Investment Partners Inc now owns 133,324 shares of the bank’s stock valued at $11,393,000 after buying an additional 73,308 shares during the period. Finally, Bank of New York Mellon Corp acquired a new stake in QCR during the second quarter worth approximately $7,300,000. 70.01% of the stock is owned by institutional investors and hedge funds.
About QCR
QCR Holdings, Inc (NASDAQ: QCRH) is a bank holding company headquartered in Moline, Illinois. Founded in 1993, the company operates through a network of community banking subsidiaries serving businesses, professionals, entrepreneurs and individuals across parts of Illinois, Iowa, Missouri and Wisconsin.
Its banking subsidiaries provide commercial and retail banking services, including business loans, commercial real estate financing, agricultural lending, residential mortgages, consumer loans and deposit accounts.
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