QCR (NASDAQ:QCRH) Posts Quarterly Earnings Results, Beats Estimates By $0.28 EPS

QCR (NASDAQ:QCRHGet Free Report) released its earnings results on Wednesday. The bank reported $2.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.91 by $0.28, FiscalAI reports. The firm had revenue of $97.34 million during the quarter, compared to analysts’ expectations of $104.10 million. QCR had a return on equity of 13.00% and a net margin of 22.86%.

QCR Trading Up 2.5%

Shares of QCR stock traded up $2.48 on Friday, hitting $99.91. The stock had a trading volume of 22,725 shares, compared to its average volume of 107,314. The stock has a 50 day moving average of $94.66 and a 200 day moving average of $90.44. The firm has a market capitalization of $1.65 billion, a P/E ratio of 11.81 and a beta of 0.75. QCR has a twelve month low of $66.65 and a twelve month high of $100.35. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.89 and a current ratio of 0.96.

QCR Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, July 3rd. Stockholders of record on Thursday, June 18th were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.4%. The ex-dividend date was Thursday, June 18th. QCR’s payout ratio is 5.01%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Piper Sandler dropped their price objective on QCR from $108.00 to $107.00 and set an “overweight” rating on the stock in a research note on Monday, April 27th. Raymond James Financial reissued an “outperform” rating and set a $99.00 target price on shares of QCR in a report on Monday, April 27th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of QCR in a research note on Monday, July 6th. Four research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $101.00.

Read Our Latest Stock Analysis on QCRH

Insider Activity at QCR

In other QCR news, insider James D. Klein sold 310 shares of the business’s stock in a transaction that occurred on Thursday, April 30th. The shares were sold at an average price of $91.00, for a total transaction of $28,210.00. Following the sale, the insider directly owned 428 shares of the company’s stock, valued at $38,948. The trade was a 42.01% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Laura L. Ekizian sold 750 shares of the company’s stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $94.96, for a total transaction of $71,220.00. Following the completion of the transaction, the chief executive officer owned 6,093 shares of the company’s stock, valued at approximately $578,591.28. This trade represents a 10.96% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 3.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Cetera Investment Advisers raised its stake in 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 buying an additional 122 shares during the last quarter. Legal & General Group Plc grew its holdings in QCR by 1.0% during the 2nd quarter. Legal & General Group Plc now owns 17,366 shares of the bank’s stock worth $1,179,000 after acquiring an additional 165 shares during the period. LPL Financial LLC raised its position in shares of QCR by 3.8% in the 4th quarter. LPL Financial LLC now owns 5,208 shares of the bank’s stock worth $434,000 after acquiring an additional 191 shares in the last quarter. Swiss National Bank lifted its stake in shares of QCR by 1.2% in the 3rd quarter. Swiss National Bank now owns 32,739 shares of the bank’s stock valued at $2,476,000 after purchasing an additional 400 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of QCR by 4.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,729 shares of the bank’s stock valued at $694,000 after purchasing an additional 403 shares during the period. 70.01% of the stock is owned by institutional investors and hedge funds.

About QCR

(Get Free Report)

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.

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Earnings History for QCR (NASDAQ:QCRH)

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