Raymond James Issues Pessimistic Forecast for QCR (NASDAQ:QCRH) Stock Price

QCR (NASDAQ:QCRH) had its target price decreased by Raymond James from $95.00 to $82.00 in a research report sent to investors on Wednesday,Benzinga reports. Raymond James currently has an outperform rating on the bank’s stock.

QCR Price Performance

Shares of QCRH opened at $64.60 on Wednesday. The business’s 50-day moving average is $74.62 and its two-hundred day moving average is $79.62. The company has a market capitalization of $1.09 billion, a P/E ratio of 9.63 and a beta of 0.81. QCR has a fifty-two week low of $54.37 and a fifty-two week high of $96.08. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.99 and a current ratio of 1.02.

QCR (NASDAQ:QCRH) last announced its quarterly earnings results on Wednesday, January 22nd. The bank reported $1.93 earnings per share for the quarter, beating the consensus estimate of $1.74 by $0.19. QCR had a return on equity of 12.68% and a net margin of 19.06%. Research analysts predict that QCR will post 6.82 earnings per share for the current year.

QCR Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 3rd. Shareholders of record on Wednesday, March 19th were given a $0.06 dividend. The ex-dividend date of this dividend was Wednesday, March 19th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.37%. QCR’s dividend payout ratio (DPR) is currently 3.58%.

Insider Transactions at QCR

In other news, insider James D. Klein sold 630 shares of the stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $73.40, for a total transaction of $46,242.00. Following the transaction, the insider now owns 428 shares in the company, valued at $31,415.20. This trade represents a 59.55 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Nicole A. Lee purchased 1,094 shares of the business’s stock in a transaction that occurred on Wednesday, January 29th. The stock was bought at an average cost of $78.47 per share, with a total value of $85,846.18. Following the acquisition, the executive vice president now owns 1,881 shares in the company, valued at $147,602.07. This represents a 139.01 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 3.70% of the company’s stock.

Institutional Investors Weigh In On QCR

Several institutional investors have recently bought and sold shares of QCRH. JPMorgan Chase & Co. lifted its position in shares of QCR by 10.8% in the third quarter. JPMorgan Chase & Co. now owns 421,843 shares of the bank’s stock valued at $31,229,000 after acquiring an additional 41,043 shares in the last quarter. Barclays PLC raised its stake in QCR by 148.9% in the 3rd quarter. Barclays PLC now owns 30,805 shares of the bank’s stock valued at $2,281,000 after purchasing an additional 18,430 shares during the last quarter. Jane Street Group LLC lifted its holdings in QCR by 48.9% in the 3rd quarter. Jane Street Group LLC now owns 27,080 shares of the bank’s stock valued at $2,005,000 after purchasing an additional 8,890 shares in the last quarter. Assenagon Asset Management S.A. acquired a new stake in QCR during the 4th quarter worth $3,755,000. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of QCR by 6.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 145,990 shares of the bank’s stock worth $11,773,000 after buying an additional 9,292 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.