QCR (NASDAQ:QCRH) Now Covered by Analysts at Raymond James Financial

Key Points

• Raymond James initiated coverage of QCR Holdings with an “outperform” rating and a $110 price target, implying 13.18% upside from the prior close.
• Analyst sentiment is broadly positive: QCR has a consensus “Moderate Buy” rating from seven analysts, with an average price target of $110.60.
• QCR shares fell 1.9% to $97.19, despite the bank exceeding quarterly EPS estimates ($2.19 versus $1.91); institutional investors and hedge funds own approximately 70% of the stock.

Equities researchers at Raymond James Financial began coverage on shares of QCR (NASDAQ:QCRH - Get Free Report) in a research report issued to clients and investors on Thursday. The firm set an "outperform" rating and a $110.00 price target on the bank's stock. Raymond James Financial's price target indicates a potential upside of 13.18% from the stock's previous close.

A number of other equities analysts also recently commented on QCRH. Weiss Ratings reiterated a "buy (b)" rating on shares of QCR in a research note on Monday, July 6th. Keefe, Bruyette & Woods increased their price objective on QCR from $105.00 to $108.00 and gave the stock an "outperform" rating in a report on Friday, July 24th. Stephens assumed coverage on QCR in a research report on Friday, September 18th. They issued an "equal weight" rating and a $107.00 target price on the stock. DA Davidson raised their target price on QCR from $97.00 to $105.00 and gave the company a "neutral" rating in a research report on Monday, July 27th. Finally, Piper Sandler reaffirmed an "overweight" rating and set a $123.00 target price (up from $107.00) on shares of QCR in a research note on Monday, July 27th. Four research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $110.60.

QCR Trading Down 1.9%

Shares of QCR stock traded down $1.83 during trading hours on Thursday, hitting $97.19. The company's stock had a trading volume of 4,785 shares, compared to its average volume of 111,083. QCR has a 1-year low of $66.65 and a 1-year high of $108.11. The business has a fifty day moving average of $101.90 and a 200 day moving average of $95.15. The company has a market capitalization of $1.59 billion, a PE ratio of 11.50 and a beta of 0.73. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.57.

QCR (NASDAQ:QCRH - Get Free Report) last announced its quarterly earnings results on Wednesday, July 22nd. The bank reported $2.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.91 by $0.28. QCR had a return on equity of 12.87% and a net margin of 22.86%.The firm had revenue of $97.34 million during the quarter, compared to the consensus estimate of $104.10 million. As a group, equities analysts forecast that QCR will post 8.46 EPS for the current year.

Hedge Funds Weigh In On QCR

Several hedge funds have recently made changes to their positions in the business. Nykredit A S acquired a new position in QCR in the 2nd quarter worth approximately $27,000. Assetmark Inc. raised its holdings in shares of QCR by 50.0% during the first quarter. Assetmark Inc. now owns 675 shares of the bank's stock worth $58,000 after acquiring an additional 225 shares in the last quarter. Blue Trust Inc. acquired a new stake in shares of QCR during the 1st quarter valued at about $71,000. Geneos Wealth Management Inc. bought a new stake in QCR in the first quarter worth approximately $102,000. Finally, Pinnacle Holdings LLC acquired a new position in shares of QCR during the 2nd quarter worth $162,000. Institutional investors and hedge funds own 70.01% of the company's stock.

QCR Company Profile

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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