QCR (NASDAQ:QCRH) Price Target Raised to $108.00 at Keefe, Bruyette & Woods

Key Points

• Keefe, Bruyette & Woods raised its price target on QCR Holdings to $108 from $105 and reiterated an outperform rating, implying about 7.5% upside from the current price.
• QCR shares were up 3.1% to $100.46 in Friday trading, near their 52-week high of $101.42, as investors digested the updated analyst outlook.
• The company recently reported Q2 EPS of $2.19, beating estimates of $1.91, though revenue of $97.34 million came in below expectations. Overall, analysts still view the stock as a Moderate Buy with an average target of $102.50.

QCR (NASDAQ:QCRH - Get Free Report) had its price objective increased by stock analysts at Keefe, Bruyette & Woods from $105.00 to $108.00 in a research report issued on Friday,Benzinga reports. The firm currently has an "outperform" rating on the bank's stock. Keefe, Bruyette & Woods' price objective points to a potential upside of 7.51% from the stock's current price.

QCRH has been the subject of several other research reports. Weiss Ratings reiterated a "buy (b)" rating on shares of QCR in a research note on Monday, July 6th. Raymond James Financial reissued an "outperform" rating and set a $99.00 target price on shares of QCR in a research note on Monday, April 27th. Finally, Piper Sandler decreased their price target on shares of QCR from $108.00 to $107.00 and set an "overweight" rating for the company in a research note on Monday, April 27th. Four equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $102.50.

QCR Trading Up 3.1%

Shares of QCRH stock traded up $3.03 during mid-day trading on Friday, hitting $100.46. The company's stock had a trading volume of 114,273 shares, compared to its average volume of 107,981. The company has a market cap of $1.66 billion, a PE ratio of 11.87 and a beta of 0.75. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.89 and a current ratio of 0.96. The company's fifty day simple moving average is $94.66 and its 200-day simple moving average is $90.44. QCR has a 52 week low of $66.65 and a 52 week high of $101.42.

QCR (NASDAQ:QCRH - Get Free Report) last released its earnings results on Wednesday, July 22nd. The bank reported $2.19 EPS for the quarter, topping the consensus estimate of $1.91 by $0.28. The business had revenue of $97.34 million during the quarter, compared to analysts' expectations of $104.10 million. QCR had a return on equity of 13.00% and a net margin of 22.86%. As a group, equities research analysts expect that QCR will post 8.13 earnings per share for the current fiscal year.

Insider Buying and Selling

In other QCR news, CEO Laura L. Ekizian sold 750 shares of the business's stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $94.96, for a total transaction of $71,220.00. Following the completion of the sale, the chief executive officer owned 6,093 shares in the company, valued at approximately $578,591.28. The trade was a 10.96% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider James D. Klein sold 310 shares of the company's stock in a transaction on Thursday, April 30th. The stock was 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 approximately $38,948. The trade was a 42.01% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 3.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in QCRH. Assetmark Inc. acquired a new stake in shares of QCR in the 4th quarter worth about $37,000. Farther Finance Advisors LLC raised its stake in shares of QCR by 34.6% in the fourth quarter. Farther Finance Advisors LLC now owns 576 shares of the bank's stock worth $48,000 after purchasing an additional 148 shares during the last quarter. Kemnay Advisory Services Inc. purchased a new stake in shares of QCR in the fourth quarter worth approximately $61,000. Blue Trust Inc. bought a new position in shares of QCR in the first quarter valued at approximately $71,000. Finally, Quadrant Capital Group LLC bought a new position in shares of QCR in the third quarter valued at approximately $72,000. 70.01% of the stock is currently owned by institutional investors and hedge funds.

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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