QCR (NASDAQ:QCRH) Hits New 52-Week High – Time to Buy?

QCR Holdings, Inc. (NASDAQ:QCRH)’s share price reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $97.25 and last traded at $96.34, with a volume of 159708 shares. The stock had previously closed at $96.33.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Piper Sandler lowered their target price on shares of QCR from $108.00 to $107.00 and set an “overweight” rating for the company in a report on Monday, April 27th. Raymond James Financial restated an “outperform” rating and issued a $99.00 price target on shares of QCR in a report on Monday, April 27th. Four equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $101.00.

QCR Stock Performance

The business’s 50-day moving average price is $90.95 and its 200-day moving average price is $88.03. 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 stock has a market cap of $1.58 billion, a PE ratio of 11.99 and a beta of 0.76.

QCR (NASDAQ:QCRH) last announced its earnings results on Wednesday, April 22nd. The bank reported $1.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.78 by $0.21. QCR had a return on equity of 12.54% and a net margin of 21.98%.The company had revenue of $89.52 million for the quarter, compared to analyst estimates of $105.42 million. As a group, equities research analysts expect that QCR Holdings, Inc. will post 8.13 earnings per share for the current fiscal year.

QCR Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 3rd. Shareholders of record on Thursday, June 18th will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend is Thursday, June 18th. QCR’s payout ratio is currently 5.01%.

Insider Activity at QCR

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 owned 6,093 shares of the company’s stock, valued at approximately $578,591.28. The trade was a 10.96% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider James D. Klein sold 310 shares of the business’s stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $91.00, for a total transaction of $28,210.00. Following the sale, the insider directly owned 428 shares in the company, valued at approximately $38,948. This represents a 42.01% decrease in their position. The SEC filing for this sale provides additional information. 3.20% of the stock is currently owned by insiders.

Institutional Trading of QCR

A number of hedge funds have recently modified their holdings of QCRH. AQR Capital Management LLC boosted its holdings in QCR by 20.7% during the first quarter. AQR Capital Management LLC now owns 38,470 shares of the bank’s stock worth $2,744,000 after buying an additional 6,607 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in QCR by 4.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,729 shares of the bank’s stock worth $694,000 after buying an additional 403 shares in the last quarter. Millennium Management LLC boosted its holdings in QCR by 124.5% during the first quarter. Millennium Management LLC now owns 98,583 shares of the bank’s stock worth $7,031,000 after buying an additional 54,678 shares in the last quarter. Jane Street Group LLC boosted its holdings in QCR by 106.5% during the first quarter. Jane Street Group LLC now owns 30,052 shares of the bank’s stock worth $2,143,000 after buying an additional 15,501 shares in the last quarter. Finally, Legal & General Group Plc boosted its holdings in QCR by 1.0% during the second quarter. Legal & General Group Plc now owns 17,366 shares of the bank’s stock worth $1,179,000 after buying an additional 165 shares in the last quarter. Hedge funds and other institutional investors own 70.01% of the company’s stock.

QCR Company Profile

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.