QCR (NASDAQ:QCRH) Stock Price Expected to Rise, Piper Sandler Analyst Says

Key Points

• Analyst firm Piper Sandler has raised its price target for QCR Holdings (NASDAQ: QCRH) from $88.00 to $92.50, suggesting a potential upside of 24.50% from the current stock price.
• QCR's average consensus rating is a "Moderate Buy," with four analysts assigning buy ratings and one giving a hold rating, indicating strong investor confidence.
• The stock recently experienced a decline, trading at $74.30, despite reporting an EPS of $1.73, which exceeded analysts' expectations of $1.63.

QCR (NASDAQ:QCRH - Get Free Report) had its price target upped by equities research analysts at Piper Sandler from $88.00 to $92.50 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has an "overweight" rating on the bank's stock. Piper Sandler's price objective indicates a potential upside of 24.50% from the stock's current price.

Other research analysts also recently issued research reports about the stock. Wall Street Zen upgraded shares of QCR from a "sell" rating to a "hold" rating in a research report on Saturday. Keefe, Bruyette & Woods reiterated an "outperform" rating and issued a $92.00 price objective (up previously from $90.00) on shares of QCR in a research note on Friday. Raymond James Financial set a $78.00 price objective on shares of QCR and gave the company an "outperform" rating in a research note on Thursday, April 24th. Finally, DA Davidson lifted their price objective on shares of QCR from $80.00 to $87.00 and gave the company a "buy" rating in a research note on Friday. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, QCR has an average rating of "Moderate Buy" and a consensus target price of $87.38.

QCR Price Performance

Shares of QCRH traded down $1.04 during mid-day trading on Monday, reaching $74.30. The company had a trading volume of 28,345 shares, compared to its average volume of 92,529. The company's 50 day simple moving average is $69.48 and its 200 day simple moving average is $71.37. QCR has a 1-year low of $60.83 and a 1-year high of $96.08. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.98 and a current ratio of 0.98. The company has a market capitalization of $1.26 billion, a price-to-earnings ratio of 11.19 and a beta of 0.80.

QCR (NASDAQ:QCRH - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The bank reported $1.73 EPS for the quarter, topping the consensus estimate of $1.63 by $0.10. QCR had a net margin of 19.43% and a return on equity of 11.86%. The business had revenue of $84.20 million for the quarter, compared to the consensus estimate of $95.11 million. Analysts expect that QCR will post 6.82 EPS for the current year.

Institutional Investors Weigh In On QCR

Institutional investors and hedge funds have recently modified their holdings of the company. Hohimer Wealth Management LLC raised its stake in QCR by 4.9% in the first quarter. Hohimer Wealth Management LLC now owns 3,489 shares of the bank's stock valued at $249,000 after purchasing an additional 164 shares in the last quarter. Mercer Global Advisors Inc. ADV grew its holdings in shares of QCR by 5.2% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 5,698 shares of the bank's stock worth $460,000 after purchasing an additional 283 shares during the last quarter. MetLife Investment Management LLC grew its holdings in shares of QCR by 3.2% in the fourth quarter. MetLife Investment Management LLC now owns 9,957 shares of the bank's stock worth $803,000 after purchasing an additional 313 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in QCR by 3.6% in the first quarter. Principal Financial Group Inc. now owns 9,269 shares of the bank's stock valued at $661,000 after acquiring an additional 323 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in QCR by 4.1% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,326 shares of the bank's stock valued at $752,000 after acquiring an additional 365 shares in the last quarter. 70.01% of the stock is owned by hedge funds and other institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.