QCR (NASDAQ:QCRH) Issues Quarterly Earnings Results

Key Points

• QCR reported quarterly EPS of $1.99, beating estimates of $1.79 by $0.20, but revenue missed at $89.52 million versus $105.42 million expected.
• The bank raised its quarterly dividend to $0.10 (annualized $0.40) from $0.06, implying a ~0.4% yield and a low dividend payout ratio of 5.33%.
• Shares fell about 1.6% to $88.97 after the release; insiders (including the CFO) have recently sold shares while institutional investors own roughly 70% of the stock.

QCR (NASDAQ:QCRH - Get Free Report) announced its quarterly earnings results on Wednesday. The bank reported $1.99 earnings per share for the quarter, beating the consensus estimate of $1.79 by $0.20, FiscalAI reports. The business had revenue of $89.52 million during the quarter, compared to analysts' expectations of $105.42 million. QCR had a net margin of 21.07% and a return on equity of 12.13%.

QCR Stock Down 1.6%

Shares of QCR stock traded down $1.46 during trading on Wednesday, hitting $88.97. The company's stock had a trading volume of 171,721 shares, compared to its average volume of 103,150. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.00 and a current ratio of 1.00. The company has a fifty day simple moving average of $87.49 and a two-hundred day simple moving average of $83.80. The company has a market capitalization of $1.49 billion, a PE ratio of 11.85 and a beta of 0.78. QCR has a 52 week low of $63.67 and a 52 week high of $96.00.

QCR Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 3rd. Investors of record on Thursday, March 19th were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.4%. The ex-dividend date was Thursday, March 19th. This is a positive change from QCR's previous quarterly dividend of $0.06. QCR's dividend payout ratio (DPR) is 5.33%.

Insider Activity

In related news, insider James D. Klein sold 554 shares of the stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $82.50, for a total value of $45,705.00. Following the completion of the transaction, the insider directly owned 738 shares in the company, valued at $60,885. This trade represents a 42.88% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Todd A. Gipple sold 8,590 shares of the stock in a transaction dated Friday, January 30th. The stock was sold at an average price of $89.92, for a total transaction of $772,412.80. Following the completion of the transaction, the chief financial officer owned 44,902 shares of the company's stock, valued at approximately $4,037,587.84. The trade was a 16.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 3.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Kemnay Advisory Services Inc. bought a new position in shares of QCR in the 4th quarter worth about $61,000. Quadrant Capital Group LLC bought a new stake in QCR during the 3rd quarter valued at about $72,000. Russell Investments Group Ltd. bought a new stake in QCR during the 3rd quarter valued at about $104,000. Meeder Asset Management Inc. increased its stake in QCR by 59.2% during the 4th quarter. Meeder Asset Management Inc. now owns 1,995 shares of the bank's stock valued at $166,000 after purchasing an additional 742 shares in the last quarter. Finally, Voloridge Investment Management LLC bought a new stake in QCR during the 4th quarter valued at about $202,000. 70.01% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on QCRH shares. Raymond James Financial restated an "outperform" rating and issued a $103.00 price objective on shares of QCR in a report on Friday, January 30th. DA Davidson upped their price objective on shares of QCR from $92.00 to $96.00 and gave the stock a "neutral" rating in a report on Thursday, January 29th. Zacks Research lowered shares of QCR from a "strong-buy" rating to a "hold" rating in a report on Monday, December 29th. Weiss Ratings upgraded shares of QCR from a "hold (c+)" rating to a "buy (b-)" rating in a report on Monday, February 2nd. Finally, Piper Sandler restated an "overweight" rating and issued a $108.00 price objective (up from $105.00) on shares of QCR in a report on Friday, January 30th. Four analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $102.25.

QCR Company Profile

QCR Holdings, Inc, headquartered in Moline, Illinois, is a bank holding company that delivers community banking services through its wholly owned subsidiary, QCR Bank. The company focuses on serving individuals, small to medium-sized businesses and municipal clients in select Midwestern markets.

QCR Bank offers a broad array of deposit and lending products, including personal and business checking and savings accounts, commercial real estate loans, equipment financing, mortgage lending and treasury management solutions.

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