Zacks Investment Research Upgrades QCR (NASDAQ:QCRH) to Hold

Zacks Investment Research upgraded shares of QCR (NASDAQ:QCRH) from a sell rating to a hold rating in a research note issued to investors on Wednesday morning, Zacks.com reports.

According to Zacks, “QCR Holdings, Inc. is the bank holding company of Quad City Bank and Trust Company. The Bank provides full service commercial and consumer banking, and trust and asset management services. “

Several other research analysts have also recently weighed in on QCRH. Maxim Group lowered their target price on SVB Financial Group to $325.00 and set a buy rating on the stock in a report on Monday, April 29th. ValuEngine upgraded USINAS SIDERURG/S from a sell rating to a hold rating in a report on Wednesday, May 29th. Finally, BidaskClub upgraded Zebra Technologies from a hold rating to a buy rating in a report on Saturday, July 6th. Two analysts have rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average target price of $41.50.

Shares of QCR stock opened at $34.23 on Wednesday. The firm has a market cap of $539.40 million, a PE ratio of 10.87, a P/E/G ratio of 1.04 and a beta of 0.76. The business’s 50 day moving average is $33.75. QCR has a 1-year low of $30.15 and a 1-year high of $49.40. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.55.

QCR (NASDAQ:QCRH) last issued its earnings results on Wednesday, April 24th. The bank reported $0.82 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.83 by ($0.01). The company had revenue of $48.90 million for the quarter, compared to analyst estimates of $50.20 million. QCR had a return on equity of 10.92% and a net margin of 18.92%. As a group, research analysts forecast that QCR will post 3.29 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 3rd. Stockholders of record on Friday, June 21st were given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.70%. The ex-dividend date was Thursday, June 20th. QCR’s payout ratio is presently 7.79%.

Several hedge funds have recently added to or reduced their stakes in the company. Rhumbline Advisers grew its position in QCR by 47.5% during the 4th quarter. Rhumbline Advisers now owns 19,135 shares of the bank’s stock worth $614,000 after acquiring an additional 6,163 shares during the last quarter. BlackRock Inc. grew its position in shares of QCR by 0.9% in the 4th quarter. BlackRock Inc. now owns 925,327 shares of the bank’s stock worth $29,694,000 after buying an additional 8,240 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of QCR by 2.8% in the 4th quarter. Bank of New York Mellon Corp now owns 72,905 shares of the bank’s stock worth $2,339,000 after buying an additional 1,961 shares during the last quarter. Martingale Asset Management L P grew its position in shares of QCR by 25.0% in the 4th quarter. Martingale Asset Management L P now owns 24,008 shares of the bank’s stock worth $771,000 after buying an additional 4,800 shares during the last quarter. Finally, Citigroup Inc. grew its position in shares of QCR by 53.0% in the 4th quarter. Citigroup Inc. now owns 5,245 shares of the bank’s stock worth $168,000 after buying an additional 1,817 shares during the last quarter. 58.67% of the stock is currently owned by hedge funds and other institutional investors.

About QCR

QCR Holdings, Inc, a multi-bank holding company, provides commercial and consumer banking, and trust and asset management services. The company operates through Commercial Banking and Wealth Management segments. Its deposit products include noninterest and interest-bearing demand, time, and brokered time deposits.

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