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

QCR Holdings, Inc. (NASDAQ:QCRH) hit a new 52-week high on Wednesday . The company traded as high as $88.59 and last traded at $88.8150, with a volume of 5497 shares changing hands. The stock had previously closed at $85.50.

Wall Street Analyst Weigh In

Several brokerages have weighed in on QCRH. Zacks Research downgraded shares of QCR from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 29th. Piper Sandler raised their target price on QCR from $92.50 to $97.00 and gave the stock an “overweight” rating in a research note on Monday, October 27th. Raymond James Financial restated an “outperform” rating and set a $88.00 price objective (up from $85.00) on shares of QCR in a research note on Monday, October 27th. Weiss Ratings reissued a “hold (c+)” rating on shares of QCR in a report on Monday, December 29th. Finally, DA Davidson reiterated a “neutral” rating and set a $83.00 price objective on shares of QCR in a research note on Thursday, October 9th. Three 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, the stock currently has an average rating of “Moderate Buy” and an average target price of $90.00.

QCR Trading Up 3.3%

The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.65. The firm has a market cap of $1.49 billion, a price-to-earnings ratio of 12.33 and a beta of 0.82. The company’s 50-day moving average price is $83.39 and its 200-day moving average price is $77.94.

QCR (NASDAQ:QCRH) last announced its earnings results on Friday, November 7th. The bank reported $2.17 EPS for the quarter. The company had revenue of $101.45 million during the quarter. QCR had a return on equity of 12.04% and a net margin of 20.64%. Equities analysts expect that QCR Holdings, Inc. will post 6.82 EPS for the current fiscal year.

QCR Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 7th. Stockholders of record on Tuesday, December 23rd were given a dividend of $0.06 per share. The ex-dividend date of this dividend was Tuesday, December 23rd. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.3%. QCR’s payout ratio is currently 3.35%.

Institutional Investors Weigh In On QCR

A number of hedge funds and other institutional investors have recently modified their holdings of QCRH. State of Alaska Department of Revenue purchased a new stake in shares of QCR during the 3rd quarter worth approximately $51,000. Quadrant Capital Group LLC purchased a new position in shares of QCR in the third quarter valued at $72,000. Russell Investments Group Ltd. acquired a new position in shares of QCR in the third quarter worth $104,000. Entropy Technologies LP purchased a new position in shares of QCR during the 2nd quarter worth $210,000. Finally, CIBC Bancorp USA Inc. purchased a new position in QCR during the third quarter worth approximately $218,000. 70.01% of the stock is currently owned by institutional investors and hedge funds.

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.