QCR (NASDAQ:QCRH) Given New $96.00 Price Target at DA Davidson

QCR (NASDAQ:QCRH) had its target price lifted by equities researchers at DA Davidson from $92.00 to $96.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the bank’s stock. DA Davidson’s target price would indicate a potential upside of 6.51% from the company’s current price.

Other equities research analysts have also issued reports about the company. Keefe, Bruyette & Woods upped their price target on QCR from $92.00 to $102.00 and gave the company an “outperform” rating in a research report on Thursday. Piper Sandler upped their target price on QCR from $92.50 to $97.00 and gave the company an “overweight” rating in a report on Monday, October 27th. Zacks Research downgraded QCR from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 29th. Weiss Ratings reissued a “hold (c+)” rating on shares of QCR in a research report on Monday, December 29th. Finally, Raymond James Financial reissued an “outperform” rating and issued a $88.00 price objective (up previously from $85.00) on shares of QCR in a report on Monday, October 27th. Three investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $95.75.

QCR Price Performance

QCRH traded up $0.64 on Thursday, hitting $90.13. 67,432 shares of the company’s stock were exchanged, compared to its average volume of 77,893. QCR has a fifty-two week low of $60.83 and a fifty-two week high of $92.00. The stock has a market cap of $1.52 billion, a price-to-earnings ratio of 12.59 and a beta of 0.82. The firm has a 50-day moving average price of $84.78 and a 200-day moving average price of $78.58. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.65.

QCR (NASDAQ:QCRH) last posted its quarterly earnings results on Tuesday, January 27th. The bank reported $2.21 earnings per share for the quarter, topping analysts’ consensus estimates of $1.96 by $0.25. The firm had revenue of $107.02 million for the quarter, compared to analyst estimates of $106.87 million. QCR had a net margin of 21.07% and a return on equity of 12.30%. As a group, equities analysts anticipate that QCR will post 6.82 earnings per share for the current year.

Hedge Funds Weigh In On QCR

Hedge funds have recently made changes to their positions in the stock. Kennedy Capital Management LLC increased its stake in QCR by 108.2% during the third quarter. Kennedy Capital Management LLC now owns 694,551 shares of the bank’s stock worth $52,536,000 after purchasing an additional 360,884 shares during the period. Victory Capital Management Inc. boosted its holdings in QCR by 715.4% in the third quarter. Victory Capital Management Inc. now owns 400,229 shares of the bank’s stock valued at $30,273,000 after purchasing an additional 351,145 shares during the period. Schroder Investment Management Group boosted its holdings in QCR by 86.2% in the third quarter. Schroder Investment Management Group now owns 350,963 shares of the bank’s stock valued at $26,663,000 after purchasing an additional 162,482 shares during the period. Hotchkis & Wiley Capital Management LLC acquired a new position in QCR during the 3rd quarter worth $9,825,000. Finally, Millennium Management LLC increased its holdings in QCR by 124.5% during the 1st quarter. Millennium Management LLC now owns 98,583 shares of the bank’s stock worth $7,031,000 after purchasing an additional 54,678 shares during the period. 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.