Stephens assumed coverage on shares of QCR (NASDAQ:QCRH – Free Report) in a research note issued to investors on Friday, MarketBeat.com reports. The brokerage issued an equal weight rating and a $107.00 price objective on the bank’s stock.
A number of other brokerages have also recently issued reports on QCRH. Weiss Ratings reaffirmed a “buy (b)” rating on shares of QCR in a research note on Monday, July 6th. DA Davidson boosted their target price on QCR from $97.00 to $105.00 and gave the company a “neutral” rating in a research note on Monday, July 27th. Keefe, Bruyette & Woods increased their target price on QCR from $105.00 to $108.00 and gave the company an “outperform” rating in a report on Friday, July 24th. Finally, Piper Sandler restated an “overweight” rating and set a $123.00 target price (up from $107.00) on shares of QCR in a report on Monday, July 27th. Four investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $108.40.
Get Our Latest Stock Analysis on QCRH
QCR Stock Performance
QCR (NASDAQ:QCRH – Get Free Report) last released its earnings results on Wednesday, July 22nd. The bank reported $2.19 EPS for the quarter, beating the consensus estimate of $1.91 by $0.28. The company had revenue of $97.34 million for the quarter, compared to analyst estimates of $104.10 million. QCR had a net margin of 22.86% and a return on equity of 12.87%. As a group, equities research analysts forecast that QCR will post 8.5 earnings per share for the current year.
QCR Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, October 5th. Investors of record on Friday, September 18th will be issued a dividend of $0.15 per share. The ex-dividend date is Friday, September 18th. This represents a $0.60 dividend on an annualized basis and a yield of 0.6%. This is an increase from QCR’s previous quarterly dividend of $0.10. QCR’s dividend payout ratio (DPR) is currently 7.09%.
Institutional Investors Weigh In On QCR
A number of large investors have recently added to or reduced their stakes in QCRH. Kennedy Capital Management LLC raised its stake 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 valued at $63,480,000 after acquiring an additional 67,517 shares during the last quarter. Endeavour Capital Advisors Inc. grew its stake 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 worth $27,364,000 after purchasing an additional 62,032 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of QCR by 18.4% in the second quarter. Wellington Management Group LLP now owns 284,295 shares of the bank’s stock worth $27,676,000 after purchasing an additional 44,106 shares during the last quarter. Rhino Investment Partners Inc increased its holdings in QCR by 122.1% during the 1st quarter. Rhino Investment Partners Inc now owns 133,324 shares of the bank’s stock valued at $11,393,000 after purchasing an additional 73,308 shares during the period. Finally, Bank of New York Mellon Corp purchased a new position in QCR during the 2nd quarter valued at about $7,300,000. Institutional investors own 70.01% of the company’s stock.
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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