DA Davidson Weighs in on QCR Holdings, Inc.’s Q2 2024 Earnings (NASDAQ:QCRH)

QCR Holdings, Inc. (NASDAQ:QCRH) – Equities researchers at DA Davidson issued their Q2 2024 earnings per share (EPS) estimates for QCR in a report released on Thursday, April 25th. DA Davidson analyst J. Rulis anticipates that the bank will earn $1.43 per share for the quarter. The consensus estimate for QCR’s current full-year earnings is $5.64 per share. DA Davidson also issued estimates for QCR’s FY2024 earnings at $5.85 EPS and FY2025 earnings at $6.25 EPS.

QCR (NASDAQ:QCRH) last issued its quarterly earnings data on Tuesday, April 23rd. The bank reported $1.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.32 by $0.27. QCR had a net margin of 19.92% and a return on equity of 13.47%. The company had revenue of $141.91 million for the quarter, compared to the consensus estimate of $82.83 million. During the same period last year, the firm posted $1.65 EPS.

Several other research firms have also recently issued reports on QCRH. Raymond James increased their price target on shares of QCR from $60.00 to $72.00 and gave the stock an “outperform” rating in a report on Monday, January 29th. Piper Sandler lifted their price target on QCR from $67.00 to $74.00 and gave the company an “overweight” rating in a research note on Thursday, January 25th. Finally, Keefe, Bruyette & Woods increased their price objective on QCR from $69.00 to $70.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th.

QCR Trading Down 2.3 %

NASDAQ:QCRH opened at $56.21 on Friday. The firm has a market cap of $944.33 million, a P/E ratio of 8.38 and a beta of 0.95. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.81. QCR has a 12-month low of $35.14 and a 12-month high of $62.94. The stock’s 50 day simple moving average is $57.18 and its 200-day simple moving average is $55.18.

Institutional Investors Weigh In On QCR

Hedge funds and other institutional investors have recently modified their holdings of the company. Assenagon Asset Management S.A. increased its stake in QCR by 2.4% in the first quarter. Assenagon Asset Management S.A. now owns 30,406 shares of the bank’s stock valued at $1,847,000 after purchasing an additional 716 shares during the last quarter. Denali Advisors LLC raised its holdings in QCR by 111.4% in the first quarter. Denali Advisors LLC now owns 18,600 shares of the bank’s stock valued at $1,130,000 after buying an additional 9,800 shares during the period. Northwest Bank & Trust Co acquired a new position in QCR during the fourth quarter valued at approximately $204,000. Comerica Bank lifted its position in QCR by 1.3% during the fourth quarter. Comerica Bank now owns 27,328 shares of the bank’s stock valued at $1,596,000 after buying an additional 344 shares in the last quarter. Finally, Summit Financial Strategies Inc. purchased a new stake in QCR during the fourth quarter worth approximately $211,000. 70.01% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at QCR

In related news, CEO Larry J. Helling bought 1,000 shares of the stock in a transaction on Monday, February 5th. The shares were purchased at an average price of $56.00 per share, for a total transaction of $56,000.00. Following the acquisition, the chief executive officer now owns 36,601 shares in the company, valued at $2,049,656. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 3.70% of the company’s stock.

QCR Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 3rd. Shareholders of record on Friday, March 15th were issued a dividend of $0.06 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.24 annualized dividend and a yield of 0.43%. QCR’s dividend payout ratio (DPR) is currently 3.58%.

About QCR

QCR Holdings, Inc, a multi-bank holding company, provides commercial and consumer banking, and trust and asset management services. The company's deposit products include noninterest-bearing demand, interest-bearing demand, time, and brokered deposits. It also provides various commercial and retail lending/leasing, and investment services to corporations, partnerships, individuals, and government agencies.