QCR (NASDAQ:QCRH) Price Target Raised to $96.00 at DA Davidson

QCR (NASDAQ:QCRH) had its price target upped by investment analysts at DA Davidson from $92.00 to $96.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the bank’s stock. DA Davidson’s price objective suggests a potential upside of 6.51% from the company’s previous close.

Several other research analysts have also recently issued reports on QCRH. Weiss Ratings reissued a “hold (c+)” rating on shares of QCR in a report on Monday, December 29th. Piper Sandler increased their price target on QCR from $92.50 to $97.00 and gave the stock an “overweight” rating in a research report on Monday, October 27th. Raymond James Financial reissued an “outperform” rating and issued a $88.00 price objective (up previously from $85.00) on shares of QCR in a report on Monday, October 27th. Keefe, Bruyette & Woods raised their target price on QCR from $92.00 to $102.00 and gave the stock an “outperform” rating in a report on Thursday. Finally, Zacks Research downgraded QCR from a “strong-buy” rating to a “hold” rating in a report on Monday, December 29th. Three equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, QCR presently has a consensus rating of “Moderate Buy” and a consensus price target of $95.75.

QCR Stock Performance

QCRH traded up $0.64 on Thursday, reaching $90.13. 67,432 shares of the stock were exchanged, compared to its average volume of 77,893. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.01 and a quick ratio of 1.01. The company’s 50-day moving average price is $84.78 and its 200 day moving average price is $78.58. The firm has a market capitalization of $1.52 billion, a PE ratio of 12.59 and a beta of 0.82. QCR has a fifty-two week low of $60.83 and a fifty-two week high of $92.00.

QCR (NASDAQ:QCRH) last announced its quarterly earnings data on Tuesday, January 27th. The bank reported $2.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.96 by $0.25. The firm had revenue of $107.02 million during the quarter, compared to analysts’ expectations of $106.87 million. QCR had a return on equity of 12.30% and a net margin of 21.07%. As a group, sell-side analysts forecast that QCR will post 6.82 EPS for the current fiscal year.

Institutional Investors Weigh In On QCR

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Kennedy Capital Management LLC raised its position in QCR by 108.2% during the third quarter. Kennedy Capital Management LLC now owns 694,551 shares of the bank’s stock worth $52,536,000 after acquiring an additional 360,884 shares during the period. Geode Capital Management LLC raised its position in shares of QCR by 2.6% during the 2nd quarter. Geode Capital Management LLC now owns 435,133 shares of the bank’s stock worth $29,549,000 after purchasing an additional 11,033 shares during the last quarter. Victory Capital Management Inc. lifted its stake in QCR by 715.4% in the 3rd quarter. Victory Capital Management Inc. now owns 400,229 shares of the bank’s stock valued at $30,273,000 after buying an additional 351,145 shares in the last quarter. Schroder Investment Management Group lifted its stake in QCR by 86.2% in the 3rd quarter. Schroder Investment Management Group now owns 350,963 shares of the bank’s stock valued at $26,663,000 after buying an additional 162,482 shares in the last quarter. Finally, Endeavour Capital Advisors Inc. boosted its holdings in QCR by 20.5% in the 3rd quarter. Endeavour Capital Advisors Inc. now owns 266,465 shares of the bank’s stock worth $20,155,000 after buying an additional 45,389 shares during the last quarter. Hedge funds and other institutional investors own 70.01% of the company’s stock.

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.