QCR (NASDAQ:QCRH) Posts Earnings Results, Beats Expectations By $0.10 EPS

QCR (NASDAQ:QCRH - Get Free Report) issued its quarterly earnings results on Wednesday. The bank reported $1.73 earnings per share for the quarter, beating analysts' consensus estimates of $1.63 by $0.10, Zacks reports. The business had revenue of $84.20 million during the quarter, compared to analyst estimates of $95.11 million. QCR had a net margin of 19.43% and a return on equity of 11.86%.

QCR Trading Up 1.3%

QCRH stock traded up $0.99 during midday trading on Friday, reaching $75.33. The company's stock had a trading volume of 131,629 shares, compared to its average volume of 93,006. QCR has a 52 week low of $60.83 and a 52 week high of $96.08. The stock has a market cap of $1.28 billion, a PE ratio of 11.34 and a beta of 0.80. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.42. The business's 50-day simple moving average is $69.38 and its 200-day simple moving average is $71.51.

QCR Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 18th were paid a $0.06 dividend. The ex-dividend date was Wednesday, June 18th. This represents a $0.24 dividend on an annualized basis and a yield of 0.32%. QCR's payout ratio is presently 3.61%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on QCRH shares. Keefe, Bruyette & Woods reissued an "outperform" rating and issued a $92.00 price target (up previously from $90.00) on shares of QCR in a report on Friday. Piper Sandler lowered their price target on shares of QCR from $98.00 to $88.00 and set an "overweight" rating for the company in a report on Thursday, April 24th. Wall Street Zen lowered shares of QCR from a "hold" rating to a "sell" rating in a report on Saturday, June 28th. DA Davidson raised their price target on shares of QCR from $80.00 to $87.00 and gave the company a "buy" rating in a report on Friday. Finally, Raymond James Financial set a $78.00 price target on shares of QCR and gave the company an "outperform" rating in a report on Thursday, April 24th. One analyst has rated the stock with a sell rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $86.25.

Insider Transactions at QCR

In other news, CEO Larry J. Helling purchased 1,000 shares of QCR stock in a transaction dated Monday, April 28th. The shares were bought at an average cost of $64.53 per share, with a total value of $64,530.00. Following the completion of the transaction, the chief executive officer directly owned 40,264 shares in the company, valued at $2,598,235.92. This trade represents a 2.55% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 3.70% of the company's stock.

Hedge Funds Weigh In On QCR

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of QCR by 4.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,729 shares of the bank's stock worth $694,000 after purchasing an additional 403 shares in the last quarter. AQR Capital Management LLC boosted its position in shares of QCR by 20.7% during the first quarter. AQR Capital Management LLC now owns 38,470 shares of the bank's stock worth $2,744,000 after purchasing an additional 6,607 shares in the last quarter. Jane Street Group LLC boosted its position in shares of QCR by 106.5% during the first quarter. Jane Street Group LLC now owns 30,052 shares of the bank's stock worth $2,143,000 after purchasing an additional 15,501 shares in the last quarter. Finally, Millennium Management LLC boosted its position in shares of QCR by 124.5% during the first quarter. Millennium Management LLC now owns 98,583 shares of the bank's stock worth $7,031,000 after purchasing an additional 54,678 shares in the last quarter. 70.01% of the stock is owned by institutional investors.

About QCR

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.