QCR (NASDAQ:QCRH) Now Covered by Analysts at Raymond James Financial

Investment analysts at Raymond James Financial started coverage on shares of QCR (NASDAQ:QCRH) in a research note issued on Thursday. The brokerage set an “outperform” rating and a $110.00 price target on the bank’s stock. Raymond James Financial’s price objective indicates a potential upside of 13.18% from the company’s current price.

A number of other equities analysts have also commented on QCRH. Piper Sandler reissued an “overweight” rating and issued a $123.00 price target (up from $107.00) on shares of QCR in a research report on Monday, July 27th. DA Davidson upped their price objective on shares of QCR from $97.00 to $105.00 and gave the stock a “neutral” rating in a report on Monday, July 27th. Keefe, Bruyette & Woods raised their target price on shares of QCR from $105.00 to $108.00 and gave the company an “outperform” rating in a research note on Friday, July 24th. Weiss Ratings reiterated a “buy (b)” rating on shares of QCR in a report on Monday, July 6th. Finally, Stephens initiated coverage on shares of QCR in a research report on Friday, September 18th. They set an “equal weight” rating and a $107.00 target price for the company. Four research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $110.60.

QCR Stock Down 1.9%

Shares of NASDAQ QCRH traded down $1.83 during mid-day trading on Thursday, reaching $97.19. 4,785 shares of the company traded hands, compared to its average volume of 111,083. The company’s fifty day moving average is $101.90 and its two-hundred day moving average is $95.15. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.98 and a current ratio of 0.98. QCR has a fifty-two week low of $66.65 and a fifty-two week high of $108.11. The stock has a market cap of $1.59 billion, a PE ratio of 11.50 and a beta of 0.73.

QCR (NASDAQ:QCRH) last posted its earnings results on Wednesday, July 22nd. The bank reported $2.19 earnings per share for the quarter, topping the consensus estimate of $1.91 by $0.28. The firm had revenue of $97.34 million during the quarter, compared to analyst estimates of $104.10 million. QCR had a return on equity of 12.87% and a net margin of 22.86%. On average, analysts expect that QCR will post 8.46 earnings per share for the current year.

Institutional Trading of QCR

Hedge funds have recently bought and sold shares of the stock. Sequoia Financial Advisors LLC acquired a new position in shares of QCR during the second quarter valued at about $337,000. Nykredit A S acquired a new stake in QCR during the second quarter worth about $27,000. Wellington Management Group LLP grew its position in QCR by 18.4% during the second quarter. Wellington Management Group LLP now owns 284,295 shares of the bank’s stock worth $27,676,000 after buying an additional 44,106 shares in the last quarter. Pinnacle Holdings LLC bought a new position in QCR during the second quarter valued at about $162,000. Finally, Globeflex Capital L P bought a new position in QCR during the second quarter valued at about $1,767,000. 70.01% of the stock is owned by institutional investors.

About QCR

QCR Holdings, Inc (NASDAQ: QCRH) is a bank holding company headquartered in Moline, Illinois. Founded in 1993, the company operates through a network of community banking subsidiaries serving businesses, professionals, entrepreneurs and individuals across parts of Illinois, Iowa, Missouri and Wisconsin.

Its banking subsidiaries provide commercial and retail banking services, including business loans, commercial real estate financing, agricultural lending, residential mortgages, consumer loans and deposit accounts.