QCR (NASDAQ:QCRH) Announces Earnings Results, Beats Expectations By $0.12 EPS

Key Points

• QCR exceeded earnings expectations: The bank reported quarterly EPS of $2.21, beating the $2.09 consensus by $0.12, though revenue of $99.17 million fell short of the $108.97 million estimate.
• Shares rose 2.1% to $99.49 following the results. QCR posted a 22.86% net margin and 12.87% return on equity during the quarter.
• QCR increased its quarterly dividend from $0.10 to $0.15 per share, equivalent to a $0.60 annualized dividend and a 0.6% yield; analysts maintain a “Moderate Buy” consensus with a $110.60 average price target.

QCR (NASDAQ:QCRH - Get Free Report) announced its earnings results on Tuesday. The bank reported $2.21 EPS for the quarter, topping the consensus estimate of $2.09 by $0.12, FiscalAI reports. QCR had a net margin of 22.86% and a return on equity of 12.87%. The firm had revenue of $99.17 million for the quarter, compared to the consensus estimate of $108.97 million.

QCR Stock Up 2.1%

Shares of NASDAQ:QCRH traded up $2.01 during trading on Tuesday, hitting $99.49. 182,088 shares of the company were exchanged, compared to its average volume of 111,676. QCR has a fifty-two week low of $69.55 and a fifty-two week high of $108.11. The stock has a market cap of $1.63 billion, a price-to-earnings ratio of 11.76 and a beta of 0.74. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.57. The firm has a fifty day moving average price of $100.78 and a two-hundred day moving average price of $96.57.

QCR Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, October 5th. Shareholders of record on Friday, September 18th were given a dividend of $0.15 per share. This is a positive change from QCR's previous quarterly dividend of $0.10. The ex-dividend date of this dividend was Friday, September 18th. This represents a $0.60 annualized dividend and a dividend yield of 0.6%. QCR's payout ratio is presently 7.09%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on QCRH shares. Piper Sandler reiterated an "overweight" rating and issued a $123.00 price target (up from $107.00) on shares of QCR in a report on Monday, July 27th. Stephens assumed coverage on shares of QCR in a report on Friday, September 18th. They set an "equal weight" rating and a $107.00 price objective on the stock. Raymond James Financial began coverage on shares of QCR in a research report on Thursday, October 1st. They issued an "outperform" rating and a $110.00 price objective on the stock. DA Davidson upped their target price on shares of QCR from $97.00 to $105.00 and gave the stock a "neutral" rating in a research note on Monday, July 27th. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of QCR in a report on Friday, October 2nd. Four investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $110.60.

About QCR

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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