DA Davidson Boosts QCR (NASDAQ:QCRH) Price Target to $87.00

Key Points

• DA Davidson raised the price target for QCR Holdings (NASDAQ:QCRH) from $80.00 to $87.00, indicating a potential upside of 15.28% from the last close.
• Four analysts have issued a buy rating on QCR, while one has given it a sell rating; the consensus target price is $86.25.
• QCR's recent earnings report revealed an EPS of $1.73, surpassing estimates and reflecting a return on equity of 11.86%.
• Insider activity showed CEO Larry J. Helling purchased 1,000 shares at around $64.53 each, boosting his ownership stake by 2.55%.

QCR (NASDAQ:QCRH - Get Free Report) had its price target raised by research analysts at DA Davidson from $80.00 to $87.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has a "buy" rating on the bank's stock. DA Davidson's price target would suggest a potential upside of 15.28% from the company's previous close.

A number of other research analysts have also recently commented on the company. Raymond James Financial set a $78.00 target price on QCR and gave the company an "outperform" rating in a research note on Thursday, April 24th. Wall Street Zen cut QCR from a "hold" rating to a "sell" rating in a research note on Saturday, June 28th. Keefe, Bruyette & Woods reaffirmed an "outperform" rating and set a $92.00 price objective (up from $90.00) on shares of QCR in a research note on Friday. Finally, Piper Sandler reduced their price objective on QCR from $98.00 to $88.00 and set an "overweight" rating on the stock in a research note on Thursday, April 24th. One analyst has rated the stock with a sell rating and four have issued a buy rating to the company. According to data from MarketBeat.com, QCR presently has a consensus rating of "Moderate Buy" and a consensus target price of $86.25.

QCR Stock Performance

Shares of NASDAQ:QCRH traded up $1.13 during trading on Friday, hitting $75.47. 71,895 shares of the company were exchanged, compared to its average volume of 92,541. The company has a market cap of $1.28 billion, a PE ratio of 11.37 and a beta of 0.80. The stock has a 50 day moving average of $69.38 and a 200 day moving average of $71.51. QCR has a 52-week low of $60.83 and a 52-week high of $96.08. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.98 and a quick ratio of 0.98.

QCR (NASDAQ:QCRH - Get Free Report) last released its earnings results on Wednesday, July 23rd. The bank reported $1.73 EPS for the quarter, beating analysts' consensus estimates of $1.63 by $0.10. The business had revenue of $84.20 million for the quarter, compared to analysts' expectations of $95.11 million. QCR had a return on equity of 11.86% and a net margin of 19.43%. As a group, equities research analysts predict that QCR will post 6.82 EPS for the current year.

Insider Buying and Selling

In related news, CEO Larry J. Helling acquired 1,000 shares of the stock in a transaction on Monday, April 28th. The stock was acquired at an average cost of $64.53 per share, for a total transaction of $64,530.00. Following the completion of the acquisition, the chief executive officer directly owned 40,264 shares of the company's stock, valued at approximately $2,598,235.92. This represents a 2.55% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.70% of the stock is owned by company insiders.

Institutional Trading of QCR

Institutional investors and hedge funds have recently bought and sold shares of the stock. New Age Alpha Advisors LLC purchased a new position in shares of QCR during the first quarter valued at approximately $46,000. Lazard Asset Management LLC increased its position in shares of QCR by 3,042.1% during the fourth quarter. Lazard Asset Management LLC now owns 597 shares of the bank's stock valued at $48,000 after acquiring an additional 578 shares in the last quarter. EntryPoint Capital LLC bought a new stake in QCR in the 1st quarter worth approximately $210,000. R Squared Ltd grew its position in QCR by 309.3% in the 1st quarter. R Squared Ltd now owns 3,250 shares of the bank's stock worth $232,000 after purchasing an additional 2,456 shares during the period. Finally, B. Riley Wealth Advisors Inc. bought a new stake in QCR in the 4th quarter worth approximately $237,000. 70.01% of the stock is currently owned by hedge funds and other institutional investors.

QCR Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.