QCR (NASDAQ:QCRH) Sets New 52-Week High – Here’s What Happened

QCR Holdings, Inc. (NASDAQ:QCRH)’s stock price hit a new 52-week high on Tuesday . The stock traded as high as $80.60 and last traded at $80.39, with a volume of 29363 shares trading hands. The stock had previously closed at $78.19.

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $82.00 price target (up previously from $70.00) on shares of QCR in a report on Monday, July 29th.

QCR Price Performance

The company has a market capitalization of $1.37 billion, a PE ratio of 12.11 and a beta of 0.94. The company has a current ratio of 1.04, a quick ratio of 1.00 and a debt-to-equity ratio of 0.82. The stock has a fifty day simple moving average of $74.25 and a 200-day simple moving average of $65.12.

QCR (NASDAQ:QCRH) last posted its earnings results on Wednesday, July 24th. The bank reported $1.73 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.34. QCR had a return on equity of 12.90% and a net margin of 19.37%. The firm had revenue of $150.64 million during the quarter, compared to analysts’ expectations of $82.20 million. During the same quarter in the previous year, the business earned $1.69 earnings per share. Equities analysts anticipate that QCR Holdings, Inc. will post 6.34 earnings per share for the current year.

QCR Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 2nd. Investors of record on Friday, September 13th were paid a dividend of $0.06 per share. The ex-dividend date was Friday, September 13th. This represents a $0.24 annualized dividend and a yield of 0.29%. QCR’s dividend payout ratio is currently 3.58%.

Hedge Funds Weigh In On QCR

Several large investors have recently bought and sold shares of QCRH. Innealta Capital LLC acquired a new stake in shares of QCR in the 2nd quarter valued at about $35,000. Lazard Asset Management LLC acquired a new stake in QCR during the 1st quarter worth $43,000. SG Americas Securities LLC purchased a new position in QCR during the 1st quarter worth $116,000. Susquehanna Fundamental Investments LLC acquired a new position in QCR in the first quarter valued at $205,000. Finally, ProShare Advisors LLC purchased a new stake in shares of QCR in the second quarter valued at about $265,000. Institutional investors and hedge funds own 70.01% of the company’s stock.

About QCR

QCR Holdings, Inc, a multi-bank holding company, provides commercial and consumer banking, and trust and asset management services. The company’s deposit products include noninterest-bearing demand, interest-bearing demand, time, and brokered deposits. It also provides various commercial and retail lending/leasing, and investment services to corporations, partnerships, individuals, and government agencies.