QCR (NASDAQ:QCRH) Releases Quarterly Earnings Results, Beats Estimates By $0.44 EPS

Key Points

• QCR Holdings (NASDAQ:QCRH) reported a quarterly earnings per share (EPS) of $2.17, surpassing analysts' expectations by $0.44.
• The company announced a quarterly dividend of $0.06 per share, resulting in an annualized dividend of $0.24 and a yield of 0.3%.
• Several analysts have upgraded QCR's stock rating to "hold" and "outperform," with target prices ranging from $83.00 to $92.50.

QCR (NASDAQ:QCRH - Get Free Report) posted its earnings results on Wednesday. The bank reported $2.17 EPS for the quarter, topping the consensus estimate of $1.73 by $0.44, Zacks reports. QCR had a net margin of 19.43% and a return on equity of 11.71%.

QCR Stock Performance

Shares of QCRH stock traded up $0.29 during midday trading on Wednesday, hitting $71.49. 95,096 shares of the company were exchanged, compared to its average volume of 96,261. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.98 and a current ratio of 0.98. QCR has a 52 week low of $60.83 and a 52 week high of $96.08. The firm has a market capitalization of $1.21 billion, a P/E ratio of 10.77 and a beta of 0.83. The firm's 50 day moving average price is $76.03 and its two-hundred day moving average price is $71.23.

QCR Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 3rd. Investors of record on Thursday, September 18th were issued a dividend of $0.06 per share. The ex-dividend date of this dividend was Thursday, September 18th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.3%. QCR's payout ratio is presently 3.61%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on QCRH shares. Wall Street Zen upgraded shares of QCR from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th. Keefe, Bruyette & Woods reiterated an "outperform" rating and set a $92.00 target price (up previously from $90.00) on shares of QCR in a research report on Friday, July 25th. Piper Sandler boosted their target price on QCR from $88.00 to $92.50 and gave the stock an "overweight" rating in a report on Monday, July 28th. Weiss Ratings reissued a "buy (b-)" rating on shares of QCR in a research note on Wednesday, October 8th. Finally, DA Davidson reiterated a "neutral" rating and set a $83.00 target price on shares of QCR in a research report on Thursday, October 9th. Four research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $86.38.

Insider Activity at QCR

In related news, CEO Laura L. Ekizian sold 1,000 shares of QCR stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $80.00, for a total transaction of $80,000.00. Following the sale, the chief executive officer directly owned 5,965 shares in the company, valued at $477,200. This trade represents a 14.36% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 3.70% of the company's stock.

Institutional Trading of QCR

Several institutional investors have recently made changes to their positions in QCRH. Qube Research & Technologies Ltd increased its holdings in QCR by 28.4% during the second quarter. Qube Research & Technologies Ltd now owns 155,127 shares of the bank's stock worth $10,533,000 after buying an additional 34,346 shares during the last quarter. Millennium Management LLC grew its position in 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 buying an additional 54,678 shares in the last quarter. Jane Street Group LLC raised its position in shares of QCR by 72.1% during the 2nd quarter. Jane Street Group LLC now owns 51,712 shares of the bank's stock valued at $3,511,000 after buying an additional 21,660 shares in the last quarter. AQR Capital Management LLC grew its position in QCR by 20.7% in the first 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 in the last quarter. Finally, Bank of America Corp DE increased its stake in QCR by 11.1% in the second quarter. Bank of America Corp DE now owns 27,052 shares of the bank's stock valued at $1,837,000 after acquiring an additional 2,708 shares during the last quarter. Institutional investors own 70.01% of the company's stock.

QCR Company Profile

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.

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