DA Davidson Comments on QCR Holdings, Inc.’s Q2 2024 Earnings (NASDAQ:QCRH)

QCR Holdings, Inc. (NASDAQ:QCRH) – Investment analysts at DA Davidson issued their Q2 2024 earnings estimates for shares of QCR in a research report issued to clients and investors on Thursday, April 25th. DA Davidson analyst J. Rulis expects that the bank will post earnings of $1.43 per share for the quarter. The consensus estimate for QCR’s current full-year earnings is $5.64 per share. DA Davidson also issued estimates for QCR’s FY2024 earnings at $5.85 EPS and FY2025 earnings at $6.25 EPS.

A number of other research firms have also recently commented on QCRH. Piper Sandler lifted their price objective on QCR from $67.00 to $74.00 and gave the stock an “overweight” rating in a research report on Thursday, January 25th. Keefe, Bruyette & Woods lifted their price objective on QCR from $69.00 to $70.00 and gave the company an “outperform” rating in a research note on Thursday, January 25th. Finally, Raymond James raised their target price on QCR from $60.00 to $72.00 and gave the company an “outperform” rating in a report on Monday, January 29th.

QCR Trading Down 1.8 %

NASDAQ:QCRH opened at $57.54 on Friday. QCR has a 1 year low of $35.14 and a 1 year high of $62.94. The stock has a market capitalization of $966.67 million, a price-to-earnings ratio of 8.58 and a beta of 0.95. The stock has a fifty day moving average price of $57.19 and a two-hundred day moving average price of $55.13. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.04 and a current ratio of 1.04.

QCR (NASDAQ:QCRH) last released its earnings results on Tuesday, April 23rd. The bank reported $1.59 earnings per share for the quarter, topping analysts’ consensus estimates of $1.32 by $0.27. The firm had revenue of $141.91 million for the quarter, compared to analyst estimates of $82.83 million. QCR had a net margin of 19.92% and a return on equity of 13.47%. During the same period in the prior year, the firm earned $1.65 earnings per share.

QCR Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 3rd. Shareholders of record on Friday, March 15th were issued a dividend of $0.06 per share. The ex-dividend date was Thursday, March 14th. This represents a $0.24 annualized dividend and a yield of 0.42%. QCR’s dividend payout ratio is presently 3.58%.

Insiders Place Their Bets

In other QCR news, CEO Larry J. Helling acquired 1,000 shares of the company’s stock in a transaction on Monday, February 5th. The shares were bought at an average cost of $56.00 per share, for a total transaction of $56,000.00. Following the acquisition, the chief executive officer now directly owns 36,601 shares of the company’s stock, valued at $2,049,656. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 3.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Comerica Bank boosted its position in QCR by 1.3% during the 4th quarter. Comerica Bank now owns 27,328 shares of the bank’s stock worth $1,596,000 after acquiring an additional 344 shares during the period. Teacher Retirement System of Texas boosted its position in QCR by 5.4% during the 4th quarter. Teacher Retirement System of Texas now owns 10,600 shares of the bank’s stock worth $619,000 after acquiring an additional 540 shares during the period. BKM Wealth Management LLC acquired a new position in QCR during the 4th quarter worth $33,000. Rafferty Asset Management LLC boosted its position in QCR by 6.3% during the 3rd quarter. Rafferty Asset Management LLC now owns 10,868 shares of the bank’s stock worth $527,000 after acquiring an additional 647 shares during the period. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of QCR by 2.4% in the first quarter. Assenagon Asset Management S.A. now owns 30,406 shares of the bank’s stock valued at $1,847,000 after buying an additional 716 shares during the period. Institutional investors and hedge funds own 70.01% of the company’s stock.

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.