QCR (NASDAQ:QCRH) Reaches New 52-Week High After Dividend Announcement

QCR Holdings, Inc. (NASDAQ:QCRH)’s stock price reached a new 52-week high on Monday after the company announced a dividend. The stock traded as high as $94.90 and last traded at $94.90, with a volume of 581 shares traded. The stock had previously closed at $92.67.

The newly announced dividend which will be paid on Friday, January 3rd. Stockholders of record on Friday, December 13th will be paid a $0.06 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.26%. QCR’s dividend payout ratio is currently 3.48%.

Analysts Set New Price Targets

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

QCR Stock Performance

The firm’s 50 day simple moving average is $80.39 and its 200 day simple moving average is $70.47. The firm has a market cap of $1.57 billion, a PE ratio of 13.45 and a beta of 0.93. The company has a current ratio of 1.02, a quick ratio of 0.99 and a debt-to-equity ratio of 0.67.

QCR (NASDAQ:QCRH) last released its earnings results on Wednesday, October 23rd. The bank reported $1.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.49 by $0.29. QCR had a net margin of 19.25% and a return on equity of 12.92%. The firm had revenue of $152.58 million during the quarter, compared to analyst estimates of $84.00 million. During the same quarter last year, the business earned $1.51 EPS. On average, research analysts forecast that QCR Holdings, Inc. will post 6.73 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CAO Nick W. Anderson sold 675 shares of the firm’s stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $81.93, for a total transaction of $55,302.75. Following the sale, the chief accounting officer now owns 782 shares in the company, valued at approximately $64,069.26. This trade represents a 46.33 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On QCR

Several hedge funds have recently modified their holdings of QCRH. Hohimer Wealth Management LLC acquired a new position in QCR in the 3rd quarter worth about $232,000. Geode Capital Management LLC increased its position in shares of QCR by 1.1% in the third quarter. Geode Capital Management LLC now owns 401,193 shares of the bank’s stock valued at $29,706,000 after buying an additional 4,179 shares in the last quarter. Barclays PLC raised its stake in shares of QCR by 148.9% during the 3rd quarter. Barclays PLC now owns 30,805 shares of the bank’s stock worth $2,281,000 after buying an additional 18,430 shares during the period. Jane Street Group LLC lifted its position in shares of QCR by 48.9% during the 3rd quarter. Jane Street Group LLC now owns 27,080 shares of the bank’s stock valued at $2,005,000 after buying an additional 8,890 shares in the last quarter. Finally, Wellington Management Group LLP grew its stake in QCR by 5.0% in the 3rd quarter. Wellington Management Group LLP now owns 253,452 shares of the bank’s stock valued at $18,763,000 after acquiring an additional 12,052 shares during the period. 70.01% of the stock is owned by hedge funds and other institutional investors.

QCR Company Profile

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.