ValuEngine upgraded shares of QCR (NASDAQ:QCRH) from a hold rating to a buy rating in a research note released on Thursday morning.
QCRH has been the subject of several other research reports. DA Davidson reaffirmed a buy rating and set a $56.00 price target on shares of QCR in a research note on Wednesday, December 20th. Keefe, Bruyette & Woods reaffirmed a buy rating and set a $54.00 price target on shares of QCR in a research note on Friday, December 22nd. Maxim Group reaffirmed a buy rating and set a $53.00 price target on shares of QCR in a research note on Friday, February 2nd. BidaskClub downgraded shares of QCR from a hold rating to a sell rating in a research note on Thursday, January 4th. Finally, Piper Jaffray Companies set a $52.00 price target on shares of QCR and gave the company a buy rating in a research note on Monday, February 5th. One research analyst has rated the stock with a sell rating and six have given a buy rating to the stock. The company presently has a consensus rating of Buy and an average price target of $53.60.
QCR (QCRH) opened at $47.25 on Thursday. The stock has a market cap of $657.63, a price-to-earnings ratio of 17.76, a PEG ratio of 1.46 and a beta of 0.41. QCR has a 52 week low of $39.85 and a 52 week high of $50.00. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.95 and a current ratio of 0.95.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 4th. Stockholders of record on Friday, March 16th will be given a dividend of $0.06 per share. The ex-dividend date of this dividend is Thursday, March 15th. This is a boost from QCR’s previous quarterly dividend of $0.05. This represents a $0.24 annualized dividend and a dividend yield of 0.51%. QCR’s dividend payout ratio is 7.66%.
In other news, Director Patrick Baird sold 800 shares of the stock in a transaction on Friday, December 15th. The shares were sold at an average price of $43.23, for a total transaction of $34,584.00. Following the completion of the sale, the director now directly owns 52,722 shares in the company, valued at $2,279,172.06. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Douglas M. Hultquist sold 2,036 shares of the stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $43.90, for a total transaction of $89,380.40. Following the sale, the chief executive officer now owns 77,404 shares of the company’s stock, valued at $3,398,035.60. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 6,868 shares of company stock valued at $302,774. 8.80% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently bought and sold shares of the company. Ramsey Quantitative Systems acquired a new stake in shares of QCR during the fourth quarter worth $123,000. Castine Capital Management LLC increased its position in shares of QCR by 9.7% during the third quarter. Castine Capital Management LLC now owns 280,479 shares of the bank’s stock worth $12,761,000 after buying an additional 24,896 shares during the period. Parametric Portfolio Associates LLC acquired a new stake in shares of QCR during the second quarter worth $343,000. Systematic Financial Management LP acquired a new stake in shares of QCR during the third quarter worth $1,158,000. Finally, Northern Trust Corp increased its position in shares of QCR by 5.7% during the second quarter. Northern Trust Corp now owns 156,953 shares of the bank’s stock worth $7,439,000 after buying an additional 8,532 shares during the period. Institutional investors own 61.11% of the company’s stock.
QCR Company Profile
QCR Holdings, Inc is a multi-bank holding company. The Company serves the Quad Cities, Cedar Rapids, Waterloo/Cedar Falls, Des Moines/Ankeny and Rockford communities through its banking subsidiaries, Quad City Bank and Trust Company (QCBT), Cedar Rapids Bank and Trust Company (CRBT), Community State Bank (CSB), Rockford Bank and Trust Company (RB&T), and Guaranty Bank and Trust Company, which provide full-service commercial and consumer banking and trust and asset management services.
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