QCR (NASDAQ:QCRH) Upgraded to “Moderate Buy” at Raymond James Financial

QCR (NASDAQ:QCRH) was upgraded by Raymond James Financial to a “moderate buy” rating in a research report issued on Wednesday, Zacks reports.

Several other research firms have also issued reports on QCRH. Piper Sandler reissued an “overweight” rating and set a $123.00 target price (up from $107.00) on shares of QCR in a research note on Monday, July 27th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of QCR in a research report on Monday, July 6th. Keefe, Bruyette & Woods increased their price target on shares of QCR from $105.00 to $108.00 and gave the stock an “outperform” rating in a research report on Friday, July 24th. DA Davidson raised their price objective on shares of QCR from $97.00 to $105.00 and gave the company a “neutral” rating in a research note on Monday, July 27th. Finally, Stephens started coverage on shares of QCR in a report on Friday, September 18th. They issued an “equal weight” rating and a $107.00 price objective for the company. Four research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $110.60.

QCR Stock Up 1.7%

NASDAQ:QCRH opened at $100.95 on Wednesday. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.57. The stock’s fifty day moving average is $101.95 and its two-hundred day moving average is $95.31. QCR has a 52 week low of $66.65 and a 52 week high of $108.11. The stock has a market capitalization of $1.65 billion, a price-to-earnings ratio of 11.93 and a beta of 0.74.

QCR (NASDAQ:QCRH) last released its quarterly earnings results on Wednesday, July 22nd. The bank reported $2.19 EPS for the quarter, topping the consensus estimate of $1.91 by $0.28. QCR had a return on equity of 12.87% and a net margin of 22.86%.The business had revenue of $97.34 million during the quarter, compared to analyst estimates of $104.10 million. Research analysts anticipate that QCR will post 8.43 EPS for the current year.

Institutional Trading of QCR

Hedge funds and other institutional investors have recently bought and sold shares of the business. Bank of New York Mellon Corp acquired a new stake in shares of QCR during the 2nd quarter worth about $7,300,000. Rhino Investment Partners Inc boosted its holdings in QCR by 122.1% in the first quarter. Rhino Investment Partners Inc now owns 133,324 shares of the bank’s stock valued at $11,393,000 after purchasing an additional 73,308 shares in the last quarter. Kennedy Capital Management LLC boosted its holdings in QCR by 9.7% in the fourth quarter. Kennedy Capital Management LLC now owns 762,068 shares of the bank’s stock valued at $63,480,000 after purchasing an additional 67,517 shares in the last quarter. Wellington Management Group LLP increased its stake in QCR by 18.4% in the second quarter. Wellington Management Group LLP now owns 284,295 shares of the bank’s stock valued at $27,676,000 after purchasing an additional 44,106 shares during the last quarter. Finally, Bank of America Corp DE increased its stake in QCR by 101.5% in the first quarter. Bank of America Corp DE now owns 42,709 shares of the bank’s stock valued at $3,649,000 after purchasing an additional 21,517 shares during the last quarter. 70.01% of the stock is currently owned by institutional investors and hedge funds.

QCR Company Profile

QCR Holdings, Inc is a bank holding company headquartered in Moline, Illinois. Through its community banking subsidiaries, the company provides financial services to businesses, professionals, individuals and institutions in selected Midwestern markets.

Its banking operations offer commercial and consumer lending, deposit accounts, treasury and cash-management services, mortgage lending, online and mobile banking, and other traditional banking products. The company also provides wealth management, trust, investment and related financial services through affiliated businesses.

QCR Holdings operates through banks including Quad City Bank & Trust, Cedar Rapids Bank & Trust, Community State Bank and Springfield First Community Bank.