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

QCR Holdings, Inc. (NASDAQ:QCRH) shares hit a new 52-week high during mid-day trading on Monday after the company announced a dividend. The company 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. Investors of record on Friday, December 13th will be given a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.25%. QCR’s dividend payout ratio (DPR) is presently 3.48%.

Analyst Upgrades and Downgrades

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

QCR Stock Performance

The company has a quick ratio of 0.99, a current ratio of 1.02 and a debt-to-equity ratio of 0.67. The stock has a 50 day simple moving average of $80.39 and a 200 day simple moving average of $70.47. The company has a market cap of $1.60 billion, a price-to-earnings ratio of 13.45 and a beta of 0.93.

QCR (NASDAQ:QCRH) last issued its quarterly earnings data on Wednesday, October 23rd. The bank reported $1.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.49 by $0.29. The business had revenue of $152.58 million during the quarter, compared to analyst estimates of $84.00 million. QCR had a return on equity of 12.92% and a net margin of 19.25%. During the same period in the prior year, the company posted $1.51 EPS. As a group, analysts predict that QCR Holdings, Inc. will post 6.73 EPS for the current year.

Insider Transactions at QCR

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

Institutional Trading of QCR

Hedge funds have recently modified their holdings of the company. Innealta Capital LLC acquired a new stake in shares of QCR during the second quarter worth approximately $35,000. Lazard Asset Management LLC bought a new stake in QCR during the 1st quarter worth about $43,000. Point72 Asset Management L.P. acquired a new position in shares of QCR during the 3rd quarter worth about $54,000. Quest Partners LLC acquired a new position in QCR in the 3rd quarter valued at about $62,000. Finally, Point72 DIFC Ltd bought a new stake in QCR in the 3rd quarter valued at about $65,000. 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.