QCR (NASDAQ:QCRH) Posts Quarterly Earnings Results, Beats Estimates By $0.28 EPS

Key Points

• QCR Holdings beat earnings expectations, reporting quarterly EPS of $2.19 versus the $1.91 consensus estimate, a $0.28 upside. The bank also posted a 12.54% return on equity and 21.98% net margin.
• Revenue came in below forecasts at $97.15 million, short of analysts’ expectations for $104.10 million. Despite the earnings beat, QCR stock traded lower on the day.
• The company continues to offer a modest dividend, paying a quarterly $0.10 dividend that annualizes to $0.40 per share for a 0.4% yield. Insiders recently sold shares, while institutional ownership remains high at 70.01%.

QCR (NASDAQ:QCRH - Get Free Report) posted its earnings results on Wednesday. The bank reported $2.19 earnings per share for the quarter, topping analysts' consensus estimates of $1.91 by $0.28, FiscalAI reports. QCR had a return on equity of 12.54% and a net margin of 21.98%.The business had revenue of $97.15 million for the quarter, compared to analyst estimates of $104.10 million.

QCR Stock Performance

QCRH traded down $1.16 during trading on Wednesday, hitting $96.29. The stock had a trading volume of 125,929 shares, compared to its average volume of 106,415. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.96 and a quick ratio of 0.89. The company has a 50 day moving average price of $94.34 and a 200-day moving average price of $90.24. QCR has a one year low of $66.65 and a one year high of $100.30. The firm has a market cap of $1.59 billion, a price-to-earnings ratio of 12.07 and a beta of 0.75.

QCR Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, July 3rd. Investors of record on Thursday, June 18th were paid a $0.10 dividend. The ex-dividend date was Thursday, June 18th. This represents a $0.40 annualized dividend and a yield of 0.4%. QCR's payout ratio is 5.01%.

Insiders Place Their Bets

In other QCR news, insider James D. Klein sold 310 shares of the stock in a transaction that occurred on Thursday, April 30th. The shares were sold at an average price of $91.00, for a total transaction of $28,210.00. Following the transaction, the insider owned 428 shares in the company, valued at $38,948. This represents a 42.01% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Laura L. Ekizian sold 750 shares of QCR stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $94.96, for a total value of $71,220.00. Following the completion of the transaction, the chief executive officer directly owned 6,093 shares of the company's stock, valued at $578,591.28. This represents a 10.96% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 3.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of QCRH. Kemnay Advisory Services Inc. bought a new stake in QCR during the fourth quarter worth about $61,000. Quadrant Capital Group LLC acquired a new position in shares of QCR in the 3rd quarter valued at approximately $72,000. Russell Investments Group Ltd. acquired a new position in shares of QCR in the 3rd quarter valued at approximately $104,000. Meeder Asset Management Inc. raised its position in shares of QCR by 59.2% in the 4th quarter. Meeder Asset Management Inc. now owns 1,995 shares of the bank's stock valued at $166,000 after buying an additional 742 shares in the last quarter. Finally, Voloridge Investment Management LLC bought a new stake in shares of QCR during the 4th quarter worth approximately $202,000. Institutional investors own 70.01% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have commented on QCRH shares. Piper Sandler reduced their price objective on shares of QCR from $108.00 to $107.00 and set an "overweight" rating for the company in a research report on Monday, April 27th. Raymond James Financial restated an "outperform" rating and set a $99.00 target price on shares of QCR in a research note on Monday, April 27th. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of QCR in a report on Monday, July 6th. Four research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $101.00.

About QCR

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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