Piper Jaffray Companies Reiterates $45.00 Price Target for QCR (QCRH)

Piper Jaffray Companies set a $45.00 price target on QCR (NASDAQ:QCRH) in a research report report published on Thursday. The firm currently has a buy rating on the bank’s stock. Piper Jaffray Companies also issued estimates for QCR’s FY2018 earnings at $3.03 EPS, Q1 2020 earnings at $0.96 EPS, Q2 2020 earnings at $0.99 EPS, Q3 2020 earnings at $1.02 EPS and FY2020 earnings at $4.05 EPS.

A number of other equities research analysts have also recently weighed in on QCRH. ValuEngine cut shares of QCR from a hold rating to a sell rating in a research note on Saturday, September 22nd. BidaskClub cut shares of QCR from a sell rating to a strong sell rating in a research note on Friday, September 14th. Finally, Raymond James cut their price objective on shares of QCR from $49.00 to $44.00 and set an outperform rating on the stock in a research note on Wednesday. Two research analysts have rated the stock with a sell rating and six have issued a buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus price target of $50.83.

QCRH stock traded up $0.61 during mid-day trading on Thursday, reaching $37.75. The company had a trading volume of 42,296 shares, compared to its average volume of 36,598. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.97 and a current ratio of 0.97. The stock has a market capitalization of $591.32 million, a price-to-earnings ratio of 13.15, a PEG ratio of 1.25 and a beta of 0.50. QCR has a one year low of $34.25 and a one year high of $49.60.

QCR (NASDAQ:QCRH) last posted its earnings results on Monday, October 29th. The bank reported $0.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.22). The company had revenue of $47.12 million during the quarter, compared to the consensus estimate of $45.06 million. QCR had a net margin of 19.46% and a return on equity of 11.59%. As a group, analysts predict that QCR will post 3.04 EPS for the current fiscal year.

In related news, CEO Thomas D. Budd sold 824 shares of QCR stock in a transaction dated Wednesday, September 19th. The shares were sold at an average price of $43.00, for a total transaction of $35,432.00. Following the sale, the chief executive officer now directly owns 2,116 shares in the company, valued at $90,988. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 8.80% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Barclays PLC raised its position in QCR by 82.8% in the first quarter. Barclays PLC now owns 3,514 shares of the bank’s stock worth $158,000 after acquiring an additional 1,592 shares in the last quarter. State Board of Administration of Florida Retirement System bought a new stake in QCR in the second quarter worth about $206,000. A.R.T. Advisors LLC bought a new stake in QCR in the first quarter worth about $239,000. Summit X LLC bought a new stake in QCR in the third quarter worth about $250,000. Finally, CWM LLC bought a new stake in QCR in the second quarter worth about $254,000. Institutional investors and hedge funds own 56.99% 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 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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Analyst Recommendations for QCR (NASDAQ:QCRH)

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