QCR (NASDAQ:QCRH) Upgraded to Moderate Buy at Raymond James Financial

Key Points

• Raymond James upgraded QCR Holdings to “moderate buy,” joining a generally positive analyst consensus. Four analysts rate the stock a Buy and three rate it a Hold, with a consensus price target of $110.60.
• QCR shares rose 1.7% to open at $100.95, near their 52-week high of $108.11. The company has a market capitalization of approximately $1.65 billion and trades at a P/E ratio of 11.93.
• QCR reported quarterly EPS of $2.19, exceeding analyst estimates of $1.91, although revenue of $97.34 million fell short of the $104.10 million consensus estimate. Hedge funds and other institutional investors own about 70.01% of the stock.

QCR (NASDAQ:QCRH - Get Free Report) was upgraded by equities research analysts at Raymond James Financial to a "moderate buy" rating in a research note issued on Wednesday, Zacks reports.

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

QCR Trading Up 1.7%

Shares of QCRH stock opened at $100.95 on Wednesday. QCR has a fifty-two week low of $66.65 and a fifty-two week high of $108.11. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.98 and a current ratio of 0.98. The stock's fifty day moving average is $101.95 and its two-hundred day moving average is $95.31. The firm has a market capitalization of $1.65 billion, a P/E ratio of 11.93 and a beta of 0.74.

QCR (NASDAQ:QCRH - Get Free Report) last released its earnings results on Wednesday, July 22nd. The bank reported $2.19 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.91 by $0.28. The business had revenue of $97.34 million during 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%. Research analysts expect that QCR will post 8.43 earnings per share for the current fiscal year.

Hedge Funds Weigh In On QCR

Hedge funds have recently modified their holdings of the business. Nykredit A S purchased a new stake in QCR in the 2nd quarter valued at about $27,000. Assetmark Inc. lifted its position in QCR by 50.0% in the first quarter. Assetmark Inc. now owns 675 shares of the bank's stock valued at $58,000 after buying an additional 225 shares during the last quarter. Blue Trust Inc. purchased a new position in QCR during the first quarter worth about $71,000. Geneos Wealth Management Inc. purchased a new position in QCR during the first quarter worth about $102,000. Finally, Pinnacle Holdings LLC purchased a new position in QCR during the second quarter worth about $162,000. 70.01% of the stock is currently owned by hedge funds and other institutional investors.

QCR Company Profile

QCR Holdings, Inc is a bank holding company headquartered in Moline, Illinois. Through its community banking subsidiaries, the company provides financial services to businesses, professionals, individuals and institutions in selected Midwestern markets.

Its banking operations offer commercial and consumer lending, deposit accounts, treasury and cash-management services, mortgage lending, online and mobile banking, and other traditional banking products. The company also provides wealth management, trust, investment and related financial services through affiliated businesses.

QCR Holdings operates through banks including Quad City Bank & Trust, Cedar Rapids Bank & Trust, Community State Bank and Springfield First Community Bank.

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