QCR (NASDAQ:QCRH) Posts Earnings Results, Beats Expectations By $0.21 EPS

QCR (NASDAQ:QCRH) announced its quarterly earnings results on Wednesday. The bank reported $1.99 EPS for the quarter, beating analysts’ consensus estimates of $1.78 by $0.21, FiscalAI reports. The firm had revenue of $89.52 million for the quarter, compared to analyst estimates of $105.42 million. QCR had a return on equity of 12.65% and a net margin of 21.98%.

QCR Trading Down 0.5%

QCRH traded down $0.46 during trading on Friday, hitting $88.10. The company’s stock had a trading volume of 39,805 shares, compared to its average volume of 103,833. QCR has a twelve month low of $63.67 and a twelve month high of $96.00. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.57. The stock’s fifty day moving average price is $87.39 and its 200-day moving average price is $83.87. The firm has a market capitalization of $1.47 billion, a P/E ratio of 11.04 and a beta of 0.78.

QCR Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 3rd. Shareholders of record on Thursday, March 19th were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.5%. This is a boost from QCR’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend was Thursday, March 19th. QCR’s payout ratio is presently 5.33%.

Insider Activity at QCR

In other QCR news, insider James D. Klein sold 554 shares of the business’s stock in a transaction that occurred on Thursday, March 12th. The stock was sold at an average price of $82.50, for a total value of $45,705.00. Following the transaction, the insider directly owned 738 shares of the company’s stock, valued at approximately $60,885. The trade was a 42.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Todd A. Gipple sold 8,590 shares of the business’s stock in a transaction that occurred on Friday, January 30th. The shares were sold at an average price of $89.92, for a total value of $772,412.80. Following the completion of the transaction, the chief financial officer directly owned 44,902 shares in the company, valued at approximately $4,037,587.84. This trade represents a 16.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 3.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On QCR

A number of institutional investors have recently modified their holdings of the company. Fuller & Thaler Asset Management Inc. raised its position in shares of QCR by 52.0% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 99,727 shares of the bank’s stock worth $8,307,000 after purchasing an additional 34,132 shares during the period. Voloridge Investment Management LLC acquired a new position in shares of QCR during the fourth quarter worth approximately $202,000. Susquehanna Fundamental Investments LLC raised its position in shares of QCR by 46.7% during the fourth quarter. Susquehanna Fundamental Investments LLC now owns 13,265 shares of the bank’s stock worth $1,105,000 after purchasing an additional 4,225 shares during the period. Cetera Investment Advisers raised its position in shares of QCR by 2.6% during the fourth quarter. Cetera Investment Advisers now owns 4,883 shares of the bank’s stock worth $407,000 after purchasing an additional 122 shares during the period. Finally, Lazard Asset Management LLC acquired a new position in shares of QCR during the fourth quarter worth approximately $1,539,000. 70.01% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Zacks Research lowered QCR from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 29th. Keefe, Bruyette & Woods lifted their price objective on QCR from $92.00 to $102.00 and gave the stock an “outperform” rating in a research note on Thursday, January 29th. Weiss Ratings raised QCR from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, February 2nd. Piper Sandler reaffirmed an “overweight” rating and issued a $108.00 price objective (up from $105.00) on shares of QCR in a research note on Friday, January 30th. Finally, Raymond James Financial reaffirmed an “outperform” rating and issued a $103.00 price objective on shares of QCR in a research note on Friday, January 30th. Four analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, QCR currently has an average rating of “Moderate Buy” and a consensus target price of $102.25.

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.