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

QCR (NASDAQ:QCRH - Get Free Report) issued its 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 company had revenue of $84.20 million for the quarter, compared to the consensus estimate of $95.11 million. QCR had a return on equity of 11.86% and a net margin of 19.43%.

QCR Price Performance

QCR stock traded up $0.99 during mid-day trading on Friday, hitting $75.33. 131,629 shares of the company were exchanged, compared to its average volume of 130,964. 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 has a fifty day moving average of $69.48 and a 200 day moving average of $71.42. QCR has a 1-year low of $60.83 and a 1-year high of $96.08. The company has a market capitalization of $1.28 billion, a PE ratio of 11.34 and a beta of 0.80.

QCR Announces Dividend

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

Analysts Set New Price Targets

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

Insider Transactions at QCR

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

Hedge Funds Weigh In On QCR

Institutional investors have recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in QCR by 4.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,729 shares of the bank's stock worth $694,000 after acquiring an additional 403 shares during the last quarter. Jane Street Group LLC boosted its position in QCR by 106.5% during the 1st quarter. Jane Street Group LLC now owns 30,052 shares of the bank's stock worth $2,143,000 after acquiring an additional 15,501 shares during the last quarter. AQR Capital Management LLC boosted its position in QCR by 20.7% during the 1st quarter. AQR Capital Management LLC now owns 38,470 shares of the bank's stock worth $2,744,000 after acquiring an additional 6,607 shares during the last quarter. Finally, Millennium Management LLC boosted its position in QCR by 124.5% during the 1st quarter. Millennium Management LLC now owns 98,583 shares of the bank's stock worth $7,031,000 after acquiring an additional 54,678 shares during the last quarter. Institutional investors own 70.01% of the company's stock.

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.