QCR (NASDAQ:QCRH) Sets New 1-Year High After Strong Earnings

QCR Holdings, Inc. (NASDAQ:QCRH) shares hit a new 52-week high during trading on Thursday following a stronger than expected earnings report. The stock traded as high as $40.00 and last traded at $39.49, with a volume of 6245 shares changing hands. The stock had previously closed at $39.32.

The bank reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.04. The business had revenue of $60.63 million during the quarter, compared to analysts’ expectations of $54.10 million. QCR had a net margin of 18.53% and a return on equity of 10.82%.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 2nd. Stockholders of record on Friday, September 20th were issued a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.61%. The ex-dividend date of this dividend was Thursday, September 19th. QCR’s dividend payout ratio (DPR) is presently 7.79%.

Several research firms have recently issued reports on QCRH. Zacks Investment Research upgraded shares of QCR from a “hold” rating to a “buy” rating and set a $43.00 price objective for the company in a report on Wednesday, October 16th. BidaskClub upgraded shares of QCR from a “strong sell” rating to a “sell” rating in a report on Thursday, September 12th. Two analysts have rated the stock with a sell rating and four have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $42.50.

In related news, insider Robert C. Fulp sold 1,500 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $39.00, for a total transaction of $58,500.00. Following the completion of the sale, the insider now directly owns 28,009 shares in the company, valued at $1,092,351. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 7.20% of the company’s stock.

A number of large investors have recently modified their holdings of the stock. BlackRock Inc. boosted its holdings in QCR by 9.1% during the second quarter. BlackRock Inc. now owns 869,367 shares of the bank’s stock worth $30,314,000 after buying an additional 72,816 shares in the last quarter. Vanguard Group Inc. boosted its holdings in QCR by 3.1% during the second quarter. Vanguard Group Inc. now owns 642,614 shares of the bank’s stock worth $22,407,000 after buying an additional 19,108 shares in the last quarter. Castine Capital Management LLC boosted its holdings in QCR by 30.7% during the second quarter. Castine Capital Management LLC now owns 438,764 shares of the bank’s stock worth $15,299,000 after buying an additional 103,118 shares in the last quarter. Jacobs Asset Management LLC boosted its holdings in QCR by 5.2% during the second quarter. Jacobs Asset Management LLC now owns 371,079 shares of the bank’s stock worth $12,940,000 after buying an additional 18,323 shares in the last quarter. Finally, Northern Trust Corp boosted its holdings in QCR by 2.0% during the second quarter. Northern Trust Corp now owns 178,709 shares of the bank’s stock worth $6,231,000 after buying an additional 3,552 shares in the last quarter. Hedge funds and other institutional investors own 60.09% of the company’s stock.

The stock has a market capitalization of $619.35 million, a P/E ratio of 12.82 and a beta of 0.81. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.96 and a quick ratio of 0.96. The stock’s fifty day moving average is $37.77 and its two-hundred day moving average is $35.45.

QCR Company Profile (NASDAQ:QCRH)

QCR Holdings, Inc, a multi-bank holding company, provides commercial and consumer banking, and trust and asset management services. The company operates through Commercial Banking and Wealth Management segments. Its deposit products include noninterest and interest-bearing demand, time, and brokered time deposits.

See Also: Inverted Yield Curve

Receive News & Ratings for QCR Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for QCR and related companies with MarketBeat.com's FREE daily email newsletter.