Analysts Expect QCR Holdings, Inc. (QCRH) Will Announce Quarterly Sales of $36.88 Million
Equities research analysts expect that QCR Holdings, Inc. (NASDAQ:QCRH) will post $36.88 million in sales for the current fiscal quarter, Zacks reports. Three analysts have made estimates for QCR Holdings’ earnings, with the highest sales estimate coming in at $38.27 million and the lowest estimate coming in at $36.00 million. QCR Holdings posted sales of $34.05 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 8.3%. The company is expected to announce its next earnings results on Thursday, October 26th.
According to Zacks, analysts expect that QCR Holdings will report full year sales of $36.88 million for the current financial year, with estimates ranging from $145.30 million to $152.73 million. For the next year, analysts expect that the business will report sales of $166.92 million per share, with estimates ranging from $163.90 million to $170.65 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for QCR Holdings.
QCR Holdings (NASDAQ:QCRH) last issued its earnings results on Thursday, July 20th. The bank reported $0.65 earnings per share for the quarter, missing the consensus estimate of $0.66 by $0.01. QCR Holdings had a return on equity of 11.17% and a net margin of 21.11%. The company had revenue of $34.83 million for the quarter, compared to analyst estimates of $36.49 million.
Several equities analysts have commented on the stock. Maxim Group reissued a “buy” rating and set a $53.00 target price on shares of QCR Holdings in a research note on Thursday, June 15th. ValuEngine cut shares of QCR Holdings from a “buy” rating to a “hold” rating in a research note on Thursday, July 6th. Keefe, Bruyette & Woods set a $52.00 target price on shares of QCR Holdings and gave the company a “buy” rating in a research note on Saturday, July 22nd. Finally, BidaskClub cut shares of QCR Holdings from a “buy” rating to a “hold” rating in a research note on Monday, July 24th. One investment analyst has rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. QCR Holdings presently has a consensus rating of “Buy” and an average price target of $47.00.
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In other QCR Holdings news, EVP Cathie Whiteside sold 5,000 shares of the firm’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $46.23, for a total transaction of $231,150.00. Following the transaction, the executive vice president now owns 17,255 shares of the company’s stock, valued at approximately $797,698.65. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In the last three months, insiders have sold 8,052 shares of company stock worth $370,937. 8.80% of the stock is owned by corporate insiders.
Institutional investors have recently added to or reduced their stakes in the stock. Prudential Financial Inc. boosted its position in QCR Holdings by 22.0% in the second quarter. Prudential Financial Inc. now owns 52,210 shares of the bank’s stock valued at $2,475,000 after buying an additional 9,410 shares during the last quarter. Federated Investors Inc. PA boosted its position in QCR Holdings by 24.5% in the second quarter. Federated Investors Inc. PA now owns 31,016 shares of the bank’s stock valued at $1,470,000 after buying an additional 6,103 shares during the last quarter. Comerica Bank bought a new position in QCR Holdings during the second quarter valued at approximately $397,000. Bank of New York Mellon Corp boosted its position in QCR Holdings by 5.5% in the second quarter. Bank of New York Mellon Corp now owns 67,856 shares of the bank’s stock valued at $3,217,000 after buying an additional 3,545 shares during the last quarter. Finally, Rhumbline Advisers boosted its position in QCR Holdings by 9.7% in the second quarter. Rhumbline Advisers now owns 13,478 shares of the bank’s stock valued at $639,000 after buying an additional 1,196 shares during the last quarter. 62.07% of the stock is currently owned by hedge funds and other institutional investors.
QCR Holdings (NASDAQ:QCRH) opened at 43.70 on Friday. The firm’s 50-day moving average is $45.49 and its 200 day moving average is $44.84. The firm has a market capitalization of $576.01 million, a price-to-earnings ratio of 17.98 and a beta of 0.61. QCR Holdings has a 12 month low of $28.70 and a 12 month high of $50.00.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 4th. Shareholders of record on Friday, September 15th will be paid a dividend of $0.05 per share. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $0.20 annualized dividend and a yield of 0.46%. QCR Holdings’s payout ratio is 8.23%.
About QCR Holdings
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), and Rockford Bank and Trust Company (RB&T), which provide full-service commercial and consumer banking and trust and asset management services.
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