QCR (NASDAQ:QCRH) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of QCR (NASDAQ:QCRH) from a hold rating to a buy rating in a research note released on Saturday, Zacks.com reports. The brokerage currently has $40.00 price target on the bank’s stock.

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. “

QCRH has been the subject of a number of other reports. Maxim Group reaffirmed a buy rating and issued a $38.00 price target (down from $43.00) on shares of QCR in a research note on Monday, April 29th. ValuEngine raised QCR from a strong sell rating to a sell rating in a research note on Wednesday, May 29th. Finally, BidaskClub cut QCR from a hold rating to a sell rating in a research note on Wednesday, August 14th. Two investment analysts have rated the stock with a sell rating and four have assigned a buy rating to the stock. The stock has an average rating of Hold and a consensus price target of $41.75.

Shares of QCRH stock opened at $36.18 on Friday. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.96 and a quick ratio of 0.96. The stock has a market cap of $578.17 million, a PE ratio of 11.75, a price-to-earnings-growth ratio of 1.04 and a beta of 0.77. The stock has a 50-day moving average of $35.64 and a 200-day moving average of $34.64. QCR has a one year low of $30.15 and a one year high of $44.75.

QCR (NASDAQ:QCRH) last announced its quarterly earnings results on Tuesday, July 23rd. The bank reported $0.88 EPS for the quarter, beating analysts’ consensus estimates of $0.79 by $0.09. The company had revenue of $55.08 million during the quarter, compared to analysts’ expectations of $50.76 million. QCR had a return on equity of 10.82% and a net margin of 18.53%. As a group, research analysts anticipate that QCR will post 3.52 earnings per share for the current year.

In related news, insider Robert C. Fulp sold 1,500 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $39.00, for a total value of $58,500.00. Following the completion of the transaction, the insider now directly owns 28,009 shares in the company, valued at approximately $1,092,351. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 7.20% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently modified their holdings of the stock. Bank of Montreal Can acquired a new position in shares of QCR in the 2nd quarter valued at approximately $43,000. BNP Paribas Arbitrage SA grew its position in shares of QCR by 68,350.0% in the 1st quarter. BNP Paribas Arbitrage SA now owns 2,738 shares of the bank’s stock valued at $93,000 after purchasing an additional 2,734 shares during the period. SG Americas Securities LLC acquired a new position in shares of QCR in the 1st quarter valued at approximately $119,000. Metropolitan Life Insurance Co. NY grew its position in shares of QCR by 324.6% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 3,855 shares of the bank’s stock valued at $124,000 after purchasing an additional 2,947 shares during the period. Finally, JPMorgan Chase & Co. grew its position in shares of QCR by 25.4% in the 2nd quarter. JPMorgan Chase & Co. now owns 4,053 shares of the bank’s stock valued at $140,000 after purchasing an additional 820 shares during the period. Institutional investors and hedge funds own 59.63% 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 operates through Commercial Banking and Wealth Management segments. Its deposit products include noninterest and interest-bearing demand, time, and brokered time deposits.

Further Reading: Hold Rating

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