QCR (NASDAQ:QCRH) Issues Quarterly Earnings Results

QCR (NASDAQ:QCRH) announced its quarterly earnings data on Wednesday. The bank reported $2.19 earnings per share for the quarter, topping the consensus estimate of $1.91 by $0.28, FiscalAI reports. The business had revenue of $97.15 million during the quarter, compared to the consensus estimate of $104.10 million. QCR had a return on equity of 12.54% and a net margin of 21.98%.

QCR Price Performance

QCRH traded down $1.16 on Wednesday, reaching $96.29. The stock had a trading volume of 125,929 shares, compared to its average volume of 106,415. QCR has a fifty-two week low of $66.65 and a fifty-two week high of $100.30. The firm has a 50-day moving average of $94.34 and a 200-day moving average of $90.24. The company has a current ratio of 0.96, a quick ratio of 0.89 and a debt-to-equity ratio of 0.37. The company has a market capitalization of $1.59 billion, a price-to-earnings ratio of 12.07 and a beta of 0.75.

QCR Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, July 3rd. Shareholders of record on Thursday, June 18th were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend was Thursday, June 18th. QCR’s dividend payout ratio is presently 5.01%.

Insider Activity

In other QCR news, CEO Laura L. Ekizian sold 750 shares of the business’s stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $94.96, for a total transaction of $71,220.00. Following the sale, the chief executive officer directly owned 6,093 shares of the company’s stock, valued at $578,591.28. The trade was a 10.96% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider James D. Klein sold 310 shares of the company’s stock in a transaction that occurred on Thursday, April 30th. The shares were sold at an average price of $91.00, for a total transaction of $28,210.00. Following the completion of the transaction, the insider owned 428 shares of the company’s stock, valued at approximately $38,948. This trade represents a 42.01% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 3.20% of the stock is currently owned by company insiders.

Institutional Trading of QCR

Institutional investors have recently modified their holdings of the business. Brooklyn Investment Group bought a new position in QCR during the 4th quarter worth $422,000. Walleye Capital LLC acquired a new position in QCR during the 2nd quarter worth about $397,000. Amundi bought a new stake in shares of QCR in the 4th quarter valued at about $350,000. BNP Paribas Financial Markets grew its position in shares of QCR by 119.5% in the 3rd quarter. BNP Paribas Financial Markets now owns 4,562 shares of the bank’s stock valued at $345,000 after buying an additional 2,484 shares during the last quarter. Finally, Jump Financial LLC bought a new stake in shares of QCR in the 2nd quarter valued at about $267,000. Institutional investors own 70.01% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on QCRH. Piper Sandler lowered their target price on QCR from $108.00 to $107.00 and set an “overweight” rating for the company in a research note on Monday, April 27th. Raymond James Financial restated an “outperform” rating and issued a $99.00 price target on shares of QCR in a research note on Monday, April 27th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of QCR in a report on Monday, July 6th. Four analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $101.00.

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.