QCR (NASDAQ:QCRH) Hits New 52-Week High – Should You Buy?

QCR Holdings, Inc. (NASDAQ:QCRH)’s share price reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $92.87 and last traded at $92.35, with a volume of 90074 shares trading hands. The stock had previously closed at $90.26.

Analyst Ratings Changes

A number of equities analysts have weighed in on QCRH shares. Piper Sandler restated an “overweight” rating and set a $108.00 price objective (up from $105.00) on shares of QCR in a research report on Friday, January 30th. Weiss Ratings raised shares of QCR from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday. DA Davidson raised their price target on shares of QCR from $92.00 to $96.00 and gave the company a “neutral” rating in a research note on Thursday, January 29th. Raymond James Financial reiterated an “outperform” rating and issued a $103.00 price objective on shares of QCR in a report on Friday, January 30th. Finally, Keefe, Bruyette & Woods increased their target price on QCR from $92.00 to $102.00 and gave the company an “outperform” rating in a report on Thursday, January 29th. Four analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $102.25.

QCR Stock Performance

The stock has a 50-day moving average of $86.01 and a 200 day moving average of $79.19. The stock has a market cap of $1.56 billion, a PE ratio of 12.32 and a beta of 0.82. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.65.

QCR (NASDAQ:QCRH) last issued its earnings results on Tuesday, January 27th. The bank reported $2.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.96 by $0.25. QCR had a return on equity of 12.30% and a net margin of 21.07%.The business had revenue of $107.02 million during the quarter, compared to the consensus estimate of $106.87 million. Equities analysts predict that QCR Holdings, Inc. will post 6.82 EPS for the current fiscal year.

QCR Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 7th. Stockholders of record on Tuesday, December 23rd were given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend was Tuesday, December 23rd. QCR’s payout ratio is presently 3.20%.

Insider Buying and Selling

In other QCR news, CFO Todd A. Gipple sold 8,590 shares of the firm’s stock in a transaction on Friday, January 30th. The stock was sold at an average price of $89.92, for a total transaction of $772,412.80. Following the completion of the sale, the chief financial officer owned 44,902 shares of the company’s stock, valued at $4,037,587.84. This trade represents a 16.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 3.70% of the company’s stock.

Hedge Funds Weigh In On QCR

A number of hedge funds have recently made changes to their positions in the stock. Farther Finance Advisors LLC lifted its stake in QCR by 34.6% during the fourth quarter. Farther Finance Advisors LLC now owns 576 shares of the bank’s stock worth $48,000 after purchasing an additional 148 shares in the last quarter. Creative Planning grew its stake in shares of QCR by 1.1% in the second quarter. Creative Planning now owns 13,917 shares of the bank’s stock worth $945,000 after acquiring an additional 157 shares in the last quarter. Legal & General Group Plc grew its stake in QCR by 1.0% during the 2nd quarter. Legal & General Group Plc now owns 17,366 shares of the bank’s stock worth $1,179,000 after purchasing an additional 165 shares in the last quarter. State of New Jersey Common Pension Fund D raised its position in QCR by 0.7% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 28,395 shares of the bank’s stock valued at $2,365,000 after purchasing an additional 185 shares in the last quarter. Finally, Swiss National Bank grew its position in shares of QCR by 1.2% during the third quarter. Swiss National Bank now owns 32,739 shares of the bank’s stock worth $2,476,000 after buying an additional 400 shares in 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.