QCR (NASDAQ:QCRH) Reaches New 1-Year High – Here’s What Happened

QCR Holdings, Inc. (NASDAQ:QCRH)’s stock price reached a new 52-week high on Wednesday . The stock traded as high as $88.38 and last traded at $88.38, with a volume of 655 shares traded. The stock had previously closed at $80.78.

Analyst Upgrades and Downgrades

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

QCR Trading Down 3.3 %

The company’s 50 day moving average price is $76.88 and its two-hundred day moving average price is $67.74. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.04 and a quick ratio of 1.00. The stock has a market capitalization of $1.49 billion, a PE ratio of 12.81 and a beta of 0.93.

QCR (NASDAQ:QCRH) last issued its earnings results on Wednesday, October 23rd. The bank reported $1.78 EPS for the quarter, topping analysts’ consensus estimates of $1.49 by $0.29. QCR had a net margin of 19.25% and a return on equity of 13.16%. The company had revenue of $152.58 million for the quarter, compared to the consensus estimate of $84.00 million. During the same period in the previous year, the firm earned $1.51 earnings per share. As a group, analysts expect that QCR Holdings, Inc. will post 6.73 earnings per share for the current year.

QCR Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 2nd. Shareholders of record on Friday, September 13th were paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.27%. The ex-dividend date of this dividend was Friday, September 13th. QCR’s dividend payout ratio (DPR) is presently 3.48%.

Insiders Place Their Bets

In other QCR news, CAO Nick W. Anderson sold 675 shares of QCR stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $81.93, for a total transaction of $55,302.75. Following the completion of the sale, the chief accounting officer now directly owns 782 shares in the company, valued at $64,069.26. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 3.70% of the stock is owned by insiders.

Institutional Investors Weigh In On QCR

A number of institutional investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP increased its position in shares of QCR by 1.3% during the second quarter. Dimensional Fund Advisors LP now owns 1,046,495 shares of the bank’s stock valued at $62,787,000 after acquiring an additional 13,567 shares during the last quarter. Renaissance Technologies LLC grew its holdings in shares of QCR by 2.7% in the second quarter. Renaissance Technologies LLC now owns 335,172 shares of the bank’s stock valued at $20,110,000 after purchasing an additional 8,800 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of QCR by 20.1% in the second quarter. American Century Companies Inc. now owns 307,197 shares of the bank’s stock valued at $18,432,000 after purchasing an additional 51,471 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of QCR by 3.8% in the second quarter. Bank of New York Mellon Corp now owns 88,886 shares of the bank’s stock valued at $5,333,000 after purchasing an additional 3,270 shares in the last quarter. Finally, Empowered Funds LLC grew its holdings in shares of QCR by 5.3% in the third quarter. Empowered Funds LLC now owns 64,027 shares of the bank’s stock valued at $4,740,000 after purchasing an additional 3,216 shares in the last quarter. 70.01% of the stock is currently owned by institutional investors and hedge funds.

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.